Intrepid Metals Corp. (TSX-V: INTR) (OTCQB: IMTCF) is pleased to announce the closing on October 28, 2025, of its previously announced non-brokered private placement  for aggregate gross proceeds of $6.7 million. The Offering resulted in the issuance of 19,142,858 units, with each Unit consisting of one common share and one-half of one common share purchase warrant at a price of $0.35 per Unit. Each full Warrant shall entitle the holder thereof to acquire one additional common share at a price of $0.50 until October 28, 2027. All securities issued in connection with the Offering are subject to a hold period ending March 1, 2026.

The net proceeds of the Offering will be used for exploration expenditures, working capital, property payments and a bridge to completion of a strategic partnership transaction.

Finder’s fees of 6% in cash and 6% in non-transferrable finder warrants exercisable at a price of $0.35 for a period of twenty-four months from the closing date of the Offering, were paid on a portion of the Offering in accordance with the policies of the TSX Venture Exchange. A total of $235,409.94 was paid in cash finder’s fees and 672,599 Finder Warrants were issued.

To demonstrate continued support of the Company, certain officers of the Company and their affiliates participated in the Offering and acquired an aggregate of 771,430 Units for total gross proceeds of $270,000.50. Each subscription by a Related Party is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The related party transactions are exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 in reliance upon the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the transaction, insofar as it involves the Related Parties, does not exceed 25% of the Company’s market capitalization. The Company did not file a material change report related to Offering more than 21 days before the expected closing of the Offering as required by MI 61-101 since the details of the participation by the Related Parties were not settled until shortly prior to the closing of the Offering and the Company wished to close on an expedited basis for sound business reasons.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registrations are available. No public offering of securities is being made in the United States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Intrepid Metals Corp.

Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018¹, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America.