Intrepid Metals Commences 10,000-Metre Drill Program and 65 Line-km IP-MT Survey at Corral Copper Project in Arizona
NEWS RELEASE
Intrepid Metals Commences 10,000-Metre Drill Program and 65
Line-km IP-MT Survey at Corral Copper Project in Arizona
September 16th, 2026 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV:INTR) (OTCQB:IMTCF)
(“Intrepid” or the “Company”) is pleased to announce that drilling has commenced as part of
the Company’s planned 10,000-metre (“m”) diamond drill program (the “Drill Program”) and that
an approximately 65 line -kilometre SWATH direct current induced polarization and
magnetotelluric (“IP-MT”) geophysical survey is also underway at its district-scale Corral Copper
Project (“Corral” or the “Project”) in Cochise County, Arizona.
The 2026 program includes the following:
• Approximately 5,000m focused on expanding and further evaluating the near -surface
Carbonate Replacement Deposit (“CRD”) style copper-gold-silver mineralization identified
through previous drilling;
• Approximately 5,000m representing the first drilling at Corral specifically designed to test
high-priority porphyry copper -gold targets and evaluate the potential source of the
extensive CRD mineralization identified across the Project; and
• An approximately 65 line-kilometre IP-MT survey designed to further refine the Project’s
high-priority porphyry targets.
“With both d rilling and the IP -MT survey underway, we now have two major field programs
advancing in parallel at Corral,” said Matt Lennox -King, Chairman and Interim Chief Executive
Officer of Intrepid. “We are beginning the Drill Program with targets that build on the extensive
near-surface CRD mineralization already identified through our previous drilling and property -
wide surface exploration programs completed earlier in 2026. The IP -MT survey will provide an
important three-dimensional view of the subsurface across our priority target areas and help us
refine the location and orientation of our first dedicated porphyry drill holes. Together, these
programs give us multiple opportunities to add scale and make new discoveries at Corral.”
CRD Drilling
Drilling has commenced at the Holliday Zone, and the initial portion of the Drill Program will target
extensions of known CRD-style copper-gold-silver mineralization at the Ringo, Clanton, Earp and
Holliday zones (see Figure 1 below).
Previous drilling by Intrepid in 2024 and 2025 confirmed a broad, approximately 3.5 -kilometre
trend of near -surface CRD and related copper -gold-silver mineralization. The 2026 Program is
designed to test extensions of this mineralization and further evaluate continuity between and
beyond the areas drilled to date.
Selected results from Intrepid’s previous drilling at Corral include:
• 112.95m of 1.50% copper (“Cu”), 0.53 grams per tonne (“g/t”) gold (“Au”) and 8.22
g/t silver (“Ag”) , including 63.40m of 2.57% Cu, 0.91 g/t Au and 14.14 g/t Ag in Hole
CC24_023*;
• 216.50m of 0.71% Cu, 0.28 g/t Au and 5.14 g/t Ag, including 49.10m of 1.84% Cu, 0.78
g/t Au and 11.41 g/t Ag in Hole CC25_029**.
IP-MT Survey
The IP-MT survey is being conducted by Quantec Geoscience Ltd. (“Quantec”), an international
geophysical services company with extensive experience in deep -earth imaging for mineral
exploration. Fieldwork is expected to take approximately two months to complete.
The survey will comprise 12 receiver (“ Rx”) lines spaced approximately 400m apart, with
individual line lengths varying across the survey area, as illustrated in Figure 1 below. Rx lines
are the survey lines along which receiver electrodes and sensors are positioned to measure
electrical and electromagnetic responses from the subsurface.
Quantec’s SWATH configuration will collect three complementary datasets:
• DC resistivity, which maps variations in the electrical resistivity of subsurface rocks and
can assist in identifying geological contacts, alteration and structures;
• IP chargeability, which measures the ability of subsurface materials to temporarily store
an electrical charge and can help identify concentrations of disseminated sulphide
minerals; and
• MT resistivity, which uses naturally occurring electromagnetic signals to image resistivity
at greater depths than the DCIP component of the survey.
Together, these datasets are expected to provide broad subsurface coverage across priority
areas and help identify chargeability and resistivity anomalies that may represent sulphide -rich
intrusive centres, alteration zones or geological structures associa ted with a potential porphyry
system at depth.
First-Ever Porphyry Drill Program
The Company has started the Drill Program targeting extensions of the known CRD
mineralization. This sequencing will allow additional time to complete and interpret the IP -MT
survey now underway before drilling begins on the porphyry targets later in 2026.
The porphyry portion of the Drill Program is expected to include approximately 5,000m of drilling.
This drilling will be the first to test high-priority porphyry copper -gold targets and evaluate the
potential source of the extensive CRD mineralization identified through previous exploration.
Results from the IP-MT survey will be integrated with geological mapping, surface geochemistry,
structural interpretation, drill core relogging and other recent fieldwork to further refine the
Project’s geological model and finalize the locations and orientations of the planned porphyry drill
holes.
Porphyry drilling is currently expected to begin late October, although the sequencing of the
Program may be adjusted as drilling progresses and additional geological and geophysical
information becomes available.
Figure 1: Proposed Drilling and IP-MT Program at Corral Copper Project
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.
* 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.
** Please refer to the Intrepid News Release dated July 10, 2025 and entitled “Intrepid Metals
Intersects 216.50m of 0.71% Cu and 0.28 gpt Au Starting 29m from Surface at Corral Copper in
Arizona” for more details on these results, including details on data verification and exploration
information.
About Intrepid Metals Corp.
Intrepid Metals Corp. is focused on exploring for high -grade essential metals, including copper,
silver, and zinc, in established mining jurisdictions in southeastern Arizona, USA. The Company’s
portfolio is anchored by the Corral Copper Property, an advanced exploration-stage, district-scale
system with extensive drilling and significant shallow results, complemented by the Tombstone
South and Mesa Well Properties.
Teck Resources Limited became an equity stakeholder in Intrepid at the end of 2025. Intrepid is
led by an experienced technical and management team with a strong track record of advancing
and permitting projects across North America. The Company trades on the TSX Venture
Exchange under the symbol “INTR” and on the OTCQB Venture Market und er the symbol
“IMTCF”. For more information, visit www.intrepidmetals.com.
INTREPID METALS CORP.
On behalf of the Company
“Matthew Lennox-King”
Chairman & Interim-CEO
For further information regarding this news release, please contact:
Matthew Lennox-King, Chairman & Interim CEO
Evelyn Cox, VP Corporate Development
604-506-0552
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 Project; the timeline, goals and expectations regarding
planned exploration and drilling programs at the Company’s mineral projects; the interpretation of exploration results; the potential for
a porphyry copper-gold system; the mineral potential of the Corral district; and the exploration potential of the Corral Copper Property
and the Company’s other mineral projects.
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, objectives, 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 assumptions 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 resu lts,
performance or achievements of the Company to be materially different from any future results, performance or achievements
expressed 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, labour 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 c oncerning
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.