Intrepid Metals Commences Drill Program at Corral Copper

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that drilling has commenced at the Corral Copper Property ("Corral" or the "Property"), located in Cochise County, part of the prolific Turquoise District of southeastern Arizona. The 2025 drill program is Intrepid's second drill program on the Property and includes diamond drilling at the Ringo, Earp and Holliday Zones. Drilling will be conducted by Godbe Drilling LLC ("Godbe").

"We are excited to announce the commencement of drilling at our Corral Copper Property, with the objective of further delineating and expanding the impressive 3.5 by 1.5 kilometer copper-gold-silver-zinc mineralized footprint identified during our 2024 program," stated Ken Engquist, CEO of Intrepid. "This Phase 2 drill campaign builds on the strong results of our earlier work and is a significant step forward in advancing this highly promising discovery."

The initial 5,000m diamond drill program has started at the Ringo Zone ("Ringo"), which delivered high-grade intercepts in 2024, including:

- 112.95 meters ("m") of 1.50% Copper ("Cu"), 0.53 grams per ton ("gpt") Gold ("Au") and 8.22 gpt Silver ("Ag") (1.66% Copper Equivalent ("CuEq")¹) from 68.40 to 181.35m in Hole CC24_023 including,

• 63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq¹)

• 1.40m of 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq¹).

- 193.15m of 0.68% Cu and 0.33 gpt Au (0.83% CuEq¹ from 27.00 to 220.15m in Hole CC24_011 including,

• 48.85m of 2.24% Cu and 0.97 gpt Au (2.58% CuEq¹) and

• 3.90m of 6.80% Cu and 1.02 gpt Au (6.54% CuEq¹).

Please refer to the Intrepid News Release dated July 9, 2024 and entitled "Intrepid Metals Drills 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq) at its Corral Copper Property in Arizona" for more details on these results, including details on data verification and exploration information.

A total of six drill holes are initially planned at Ringo, after which the drill rig will be mobilized to the Holliday and Earp Zones. Results from the initial 2025 drilling at Ringo, combined with data from the 2024 program, will be used to refine the geological model and optimize subsequent 2025 drilling at Ringo.