Favourable Results From Drilling At The Corral Copper Property

VANCOUVER - Intrepid Metals Corp. reported on the first 12 diamond drill holes from its initial drill program on the Corral Copper Property in Cochise County, Arizona. The favourable results from the first 12 holes confirm the 3-kilometer-long trend of near surface carbonate replacement (CRD) and related supergene enrichment oxide copper-gold-silver-zinc mineralization in the Holliday, Earp and Ringo zones, which falls within Intrepid's private property consisting of patented mining claims and additional surface rights. The planned 5,000m diamond drill program is ongoing within the three main mineralized zones on the Property.

"The results from the first 12 drill holes returned long runs of robust CRD style mineralization punctuated by highly attractive high-grade intervals of copper-gold-silver-zinc, which confirms our confidence in the economic potential of the Property," said Ken Brophy, Chief Executive Officer. "Additional drilling will be completed at Corral Copper to further confirm historical copper-gold-silver-zinc grade and continuity and to lay the foundation for future exploration drilling designed to expand the Holliday, Earp and Ringo zones along strike and at depth and to identify a possible porphyry copper source for this mineralization."

Intrepid has completed 18 diamond drill holes totaling approximately 3,300m as part of a planned 5,000m program within its private lands at Corral Copper. Intrepid is drill testing a 3.5 by 1.5 kilometer ("km") copper-gold-silver-zinc mineralized footprint to demonstrate its potential to host economic CRD, skarn, and related porphyry copper mineralization.