• 216.50m of 0.71% Cu, 0.28 gpt Au and 5.14 gpt Ag (0.85% CuEq¹) from 29.00m to 245.50m in Hole CC25_029 including
  • 49.10m of 1.84% Cu, 0.78 gpt Au and 11.41 gpt Ag (2.20% CuEq¹) and
  • 23.05m of 3.31% Cu, 1.31 gpt Au and 16.65 gpt Ag (3.77% CuEq¹) and
  • 10.25m of 5.94% Cu, 2.20 gpt Au and 25.50 gpt Ag (6.51%CuEq¹) and
  • 63.10m of 0.79% Cu, 0.28 gpt Au and 6.81 gpt Ag (0.94% CuEq¹)

• 98.20m of 0.35% Cu, 0.43 gpt Au and 4.75 gpt Ag (0.70% CuEq¹) from 54.8m to 153.00m in Hole CC25_030 including
  • 37.50m of 0.81% Cu, 1.00 gpt Au and 10.18 gpt Ag (1.63% CuEq¹) and
  • 14.00m of 0.78% Cu, 0.61 gpt Au and 12.92 gpt Ag (1.17% CuEq¹) and
  • 5.85m of 2.04% Cu, 1.27 gpt Au and 16.44 gpt Ag (3.50% CuEq¹)

Intrepid Metals Corp. (TSX-V: INTR) (OTCQB: IMTCF) is pleased to announce assay results from two additional diamond drill holes from the Ringo Zone as part of the ongoing 2025 drill program at the Company’s Corral Copper Property in Cochise County, Arizona. To date, Intrepid has competed eleven drill holes (2813.2m meters) across the Ringo, Earp and Holliday zones, with a twelfth hole currently underway at the Ringo Zone (see Figure 1). These latest results continue to build on the encouraging mineralization identified in earlier drilling and further validate the potential of Corral as an emerging copper asset in a highly prospective district.

“Our 2025 drill campaign continues to deliver strong copper and gold results from the Ringo Zone,” said Ken Engquist, CEO of Intrepid Metals. “We’re especially encouraged by the success of our northern drilling extension, which is showing potential expansion of this mineralized zone. Beyond the impressive intervals of continuous, locally high-grade mineralization, we’re now seeing clear signs of a transition toward copper-gold porphyry-style systems. This reinforces Ringo’s potential as a shallow, bulk-minable porphyry target. And it’s just one of several newly identified porphyry centers within our rapidly advancing exploration program at Corral.”

Highlights from Hole CC25_029 and CC25_030:

CC25_029

• 216.50 meters of 0.71% Copper, 0.28 grams per ton Gold and 5.14 gpt Silver (0.85% Copper Equivalent¹) including,
  • 49.10m of 1.84% Cu, 0.78 gpt Au and 11.41 gpt Ag (2.20% CuEq¹) and
  • 23.05m of 3.31% Cu, 1.31 gpt Au and 16.65 gpt Ag (3.77% CuEq¹) and
  • 10.25m of 5.94% Cu, 2.20 gpt Au and 25.50 gpt Ag (6.51%CuEq¹) and
  • 63.10m of 0.79% Cu, 0.28 gpt Au and 6.81 gpt Ag (0.94% CuEq¹) and
  • 7.95m of 2.92% Cu, 0.48 gpt Au and 18.64 gpt Ag (2.89% CuEq¹) and
  • 13.35m of 1.14% Cu, 0.23 gpt Au and 9.53 gpt Ag (1.17% CuEq¹).

CC25_030

• 98.20m of 0.35% Cu, 0.43 gpt Au and 4.75 gpt Ag (0.70% CuEq¹) including,
  • 37.50m of 0.81% Cu, 1.00 gpt Au and 10.18 gpt Ag (1.63% CuEq¹) and
  • 14.00m of 0.78% Cu, 0.61 gpt Au and 12.92 gpt Ag (1.17% CuEq¹) and
  • 5.85m of 2.04% Cu, 1.27 gpt Au and 16.44 gpt Ag (3.50% CuEq¹)
• 31.10 meters of 0.27% Cu, 0.20 gpt Au and 3.99 gpt Ag (0.38% CuEq¹) including,
  • 9.80m of 0.79% Cu, 0.54 gpt Au and 7.63 gpt Ag (1.04% CuEq¹)

Economic Geology of Corral

Precious and base metal mineralization at Corral is concentrated in structurally controlled northeast dipping siliciclastic and carbonate sedimentary rocks including (oldest to youngest) Cambrian Bolsa Quartzite, upper-Cambrian Abrigo Limestone, Devonian Martín limestone and Mississippian Escabrosa limestone and in Jurassic aged intrusions. The most intense mineralization occurs in the Abrigo Limestone (main host) and Bolsa Quartzite, which are intruded locally by a series of Jurassic (and possibly younger) mineralized intrusions including the Star Hill, Copper Bell and Sniveler porphyries, quartz latite sills, and cross-cutting mineralized breccia bodies.

The Corral Copper Property includes the Holliday, Earp and Ringo Zones (northwest to southeast), which are related zones of discontinuously outcropping, locally high grade CRD, skarn and distal porphyry related mineralization and associated supergene enrichment that formed in the distal porphyry copper geological environment. A significant component of Intrepid’s discovery strategy at Corral is to leverage distal alteration and mineralization to vector toward one or more mineralized porphyry copper centers (see News Release dated April 15, 2025).

The Ringo Zone is located at the southern end of a 3.5km long string of copper-gold-silver-zinc bearing carbonate replacement bodies (Figure 1). The Ringo Zone measures approximately 900m (northwest to southeast) by 800m (southwest to northeast) and contains favorable Abrigo Limestone (and Bolsa Formation), pre-mineral intrusions, alteration and copper-gold-silver-zinc replacement style mineralization and secondary enriched copper oxide zones that are locally high-grade.

Technical Information

All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, P.Geo. Mr. MacNeil is a Technical Advisor to the Company and is a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news release.

Figure 1: Drill plan map from the Corral Copper Project²

Table 1: Drill Intercepts for the Ringo Zone¹

Table 2: Drill Hole Location Information for Holes CC25-026 through CC25_037

*Hole in progress at time of news release

Quality Assurance and Quality Control

Drill core was first reviewed by a geologist, who identified and marked intervals for sampling. The marked sample intervals were then cut in half with a diamond saw; half of the core was left in the core box and the other half was removed, placed in plastic bags, sealed and labeled. Intervals and unique sample numbers are recorded on the drill logs and the samples are sequenced with standards and blanks inserted according to a predefined QA/QC procedure. The samples are maintained under security on site until they are shipped to the analytical lab.

Figure 2: Cross-section A-A¹ from the Ringo Zone at the Corral Copper Project²

All core samples were sent to ALS Geochemistry (ALS), a division of ALS Global, in Tucson, Arizona, for sample preparation, with pulps sent to the ALS Geochemistry laboratory in Reno, Nevada for analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015 for analytical procedures and is independent of the Company. HQ size core was split and sampled over approximately two metre intervals. Samples were analyzed using: ALS’s Fire Assay Fusion method (Au-AA23) with an AA finish for gold and by gravimetric finish (Au-GRA21) for samples assaying greater than 10 ppm (gpt) gold; by a 36-element four acid digest ICP-AES analysis (ME-ICP61) with additional analysis for Ore Grade Cu (Cu-OG62), Ore Grade Zn (Zn-OG62) and Ore Grade Pb (Pb-OG62); and for silver assays above 100 ppm (g/t) by Fire Assay Fusion method with gravimetric finish (Ag-GRA21). ME-ICP61 results were reported in parts per million (ppm), Ore Grade (OG62) results were reported in percent (%). In addition to ALS quality assurance- quality control protocols, Intrepid implements an internal QA/QC program that includes the insertion of sample blanks, duplicates, and standards, with QA QC control samples comprising approximately 10% of the sample stream.

About Corral Copper

The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper³. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral.

The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these data.

The Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group and the MAN Property. The Company has completed the acquisition of the Excelsior Property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the “Commitments” section of the Company’s most recently filed Management Discussion and Analysis for further details.

Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development studies.

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 2018⁴, 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.