Intrepid Metals Appoints Ken Engquist as CEO
NEWS RELEASE
Intrepid Metals Appoints Ken Engquist as CEO
September 9, 2024 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV: INTR ) (OTCQB: IMTCF )
(“Intrepid” or the “Company”) is pleased to announce that in a strategic move to drive continued growth,
the Company has appointed Mr. Ken Engquist as the new Chief Executive Officer (“CEO”). Intrepid’s CEO
of the last two years, Mr. Ken Brophy, has transitioned into the role of President and Chief Operating
Officer (“COO”) of Intrepid.
“We are very fortunate to have Ken Engquist join us as our new CEO, adding his extensive experience
and visionary leadership to our team, ” said Mark Morabito, Chair man of Intrepid. “As we advance our
exciting portfolio of Arizona -based projects, having someone with Ken’s technical and executive
experience from Western Copper and Gold, First Mining Gold, Nevsun, Rio Tinto and several others will
be invaluable. I look forward to working with Ken as we continue to make significant strides in growing our
Company.”
“I am honoured to join Intrepid as the CEO,” said Ken Engquist, CEO of Intrepid. “This is an exciting time
for the Company, and I look forward to working closely with Mark, Ken Brophy and the rest of the Intrepid
team as we build on the success they’ve already achieved. Together, we will continue to add value for
our shareholders and continue to move our projects in Arizona forward.”
“It has been a busy and successful two years as we assembled our impressive project portfolio and
executed a successful initial drill campaign at our Corral Copper project,” said Ken Brophy. “It is now time
we build out our dedicated corporate team and I look forward to working with Ken to achieve the common
goals of continued growth and delivering value to shareholders.”
Mr. Engquist brings over 30 years of leadership and extensive development experience overseeing the
de-risking and advancement of numerous mining projects from early -stage exploration through start -up
and operations of surface and underground mines located in various jurisdictions all over the world . He
has extensive experience in a wide range of indigenous and community relations and government relations
and an in -depth technical knowledge and understanding of project evaluation, market sensitivities,
economics, and strategic drivers.
Mr. Engquist has led operations, technical studies, work programs , permitting, and stakeholder relations
most recently as COO of Western Copper and Gold (“WRN”) following a similar role at First Mining Gold
(“FF”). He is experienced in negotiation and financing structures, mergers and acquisitions, and strategic
partnership agreements. Some recent development projects of his include WRN’s Casino project in the
Yukon and FF’s Springpole gold project, South32’s Hermosa zinc project, and Zijin Mining’s Timok copper
project in Serbia. Mr. Engquist also led various other projects within Oxygen Capital’s managed group of
companies where he was responsible for advancing a portfolio of assets through various stages of
development and into the start of production. He’s previously held key management roles on large capital
projects and operations within AngloGold Ashanti and Rio Tinto. Mr. Engquist serves as a Director on
Silver One Resources and has served on the board of several other public and private organizations. He
holds a B.Sc. in Engineering from Michigan Technological University.
Effective September 11, 2024, the Company will make a grant of 325,000 stock options to Mr. Engquist at
an exercise price equal to the closing market price of the Company’s common shares on the day prior to
the date of grant, and with vesting periods to be determined by the Company subject to the terms and
conditions of the Company's stock option plan.
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About Intrepid Metals Corp.
Intrepid Metals Corp. is a Canadian company focused on exploring for high -grade essential metals such
as copper, silver, lead, 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 2018, 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.
INTREPID METALS CORP.
On behalf of the Company
“Mark J. Morabito”
Chairman of the Board
For further information regarding this news release, please contact:
Mark Morabito, CEO
604-604-681-8030
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: (i) the growth of the Company and benefits of Mr. Engquist’s appointment as CEO ; (ii) the
advancement, exploration and developments of the Company’s mineral projects; (iii) the creation of shareholder value; (iv) the exploration potential
of the Company’s mineral properties; and (v) 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, risks related to
current global financial conditions, risks related to current global financial conditions 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, labour disputes and cave-ins,
regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, fina ncing, capitalization and liquidity risks, risks
related to disputes concerning property titles and interests, environmental risks and the additional risks 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.