Intrepid Metals Amends Property Agreements
NEWS RELEASE
Intrepid Metals Amends Property Agreements
August 29, 2025 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV:INTR) (OTCQB:IMTCF) (“Intrepid”
or the “Company”) announces that it has entered into an agreement (the “CC Amendment”) to amend
the Share Purchase Option Agreement dated February 14, 2023, as amended March 17, 2025, with Cave
Creek Copper Inc (“Cave Creek”) and the shareholders of Cave Creek (the "Cave Creek Shareholders")
to acquire a 100% of the shares of Cave Creek which holds a portion of the Corral Copper Project (“Corral
Copper”) located in Cochise County, Arizona. The CC Amendment provides for an extension to make
certain cash payments to November 30, 2025 . Subject to the approval of the TSX Venture Exchange
(“TSXV”), in return for the extension the cash payme nt amount shall be increased by $ 20,737.50 to
$435,487.50, 38,725 common shares (“Common Shares”) shall be issued and 220,000 warrants shall be
issued in each case to Cave Creek Shareholders. Each warrant shall be exercisable for a Common Share
for a period of one year at an exercise price of $0.42 per Common Share.
The Company also announces that it has entered into an agreement (the “Mesa Amendment”) to amend
the Option to Purchase Agreement dated August 24, 2022, as amended August 16, 2024 (the “Option
Agreement”) with Bronco Creek Exploration, Inc to acquire a 100% interest in the Mesa Well Copper
Property (“Mesa Well”) located in south -central Arizona’s copp er porphyry belt. The Mesa Amendment
restructures the work commitment such that the full US$2 million work commitment must be completed by
the fifth anniversary in August 2027. This removes the requirement for year ly expenditure minimums.
Subject to the approval of the TSXV, in return for the amendment, the Company shall make an additional
cash payment of US$25,000 and issue 50,000 Common Shares upon TSXV approval. In addition, on the
fourth anniversary in August 2026, the Company shall make an additional US$25,000 cash payment and
issue an additional 50,000 Common Shares.
The CC Amendment and Mesa Amendment are subject to the approval of the TSXV.
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 histori cal
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. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol “INTR” and on the
OTCQB Venture Market under the symbol “IMTCF”. For more information, visit www.intrepidmetals.com.
Page 2 of 2
INTREPID METALS CORP.
On behalf of the Company
“Ken Engquist”
CEO
For further information regarding this news release, please contact:
Ken Engquist, CEO
604-681-8030
Notes
1 Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 (South32
completes acquisition of Arizona Mining).
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward -looking information within the meaning of applicable Canadian securities laws.
Such forward-looking statements relate to: the potential of the property; the interpretation of drills results; potential of Corral as an emerging copper
asset in a highly prospective district ; the potential to host copper-gold porphyry copper mineralization; the details of the amending agreements,
the receipt of TSXV approval for the amending agreements, the exploration potential of the Corral Copper Property and the Company’s other
mineral projects; and potential future production.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or state that cert ain actions, events or results "may",
"could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, object ives, assumptions,
intentions or statements about future events or performance. Forward -looking information contained in this news release is based on certain
factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations; the results of
exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and
materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assump tions
with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these
assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements exp ressed or implied by the
forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to
the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to
unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current
global financial conditions and the impact of any future global pandemic on the Company’s business, reliance on key personnel, operational risks
inherent in the conduct of exploration and development activities, including the risk of accidents, lab our disputes and cave-ins, regulatory risks
including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes
concerning property titles and interests, environmental risks and the additional ri sks identified in the “Risk Factors” section of the Company’s
reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors that cause actions, events or results n ot to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the
date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or
revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.