Intrepid Metals Expands Ringo Footprint with Latest Drill Results at Corral Copper in Arizona
NEWS RELEASE
Intrepid Metals Expands Ringo Footprint with Latest Drill Results
at Corral Copper in Arizona
September 9, 2025 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV:INTR) (OTCQB:IMTCF) (“Intrepid”
or the “Company”) is pleased to provide assay results from a step-out diamond drill hole from the Ringo
Zone, part of the ongoing 2025 drill campaign at the Company’s Flagship Corral Copper Property (“Corral”
or the “ Property”) in Cochise County, Arizona . To date, Intrepid has competed seventeen drill holes
(4602.35 meters (“m”)) across the Ringo, Earp and Holliday zones, with a n eighteenth hole currently
underway at the Ringo Zone.
The latest drill hole, CC25_037 intersected 140.80m of 0.36% CuEq1 including 32.15m of 0.85% CuEq1
and is located 50m north of CC24_018, which intersected 88.25m of 0.60% CuEq1 including 28.30m of
0.94% CuEq1 and roughly 90m northwest of CC24-019, which intersected 175.00m of 0.45% CuEq1 (see
Figure 1 below).
“These latest results continue to demonstrate the consistency and scale of copper-gold-silver
mineralization at our project. Step-outs to the north/northwest confirm grade continuity and the mineralized
footprint, enhancing our confidence in the potential of this system ,” said Mark Morabito, Chairman and
CEO of Intrepid Metals. “With each hole, we’re not only validating our geological model but also building
toward a district-scale opportunity. The strength of these intercepts, combined with the growing interest
from major industry players, reinforces our belief that Corral Copper is emerging as one of the most
compelling copper exploration stories in the Southwest. We’re excited to continue advancing the program
and unlocking value for our shareholders.”
Highlights from Hole CC25_037:
- 140.80 meters (“m”) of 0.27% Copper (“Cu”), 0.15 grams per ton (“gpt”) Gold (“Au”) and
3.37 gpt Silver (“Ag”) (0.36% Copper Equivalent (“CuEq”)1) including,
o 87.30m of 0.39% Cu, 0.18 gpt Au and 4.89 gpt Ag (0.49% CuEq1) including
o 32.15m of 0.66% Cu, 0.29 gpt Au and 9.87 gpt Ag (0.85% CuEq1) including
o 13.30m of 0.94% Cu, 0.40 gpt Au and 10.31 gpt Ag (1.15%CuEq1).
Emerging Gold Mineralization
The Corral Copper Project and the Bisbee Mining Camp (“Bisbee”) (Copper Queen CRD Deposit, 5 3 M
tonnes (‘t”) at 6% Cu and the spatially and genetically linked Lavender Pit Porphry Deposit with 223Mt at
0.63% Cu2) occur in similar geological settings and therefore share many features in common including
favourable host rocks (Jurassic intrusions and Paleozoic and Cambrian carbonates sedimentary host
rocks), alteration styles (decalcification, marbelization, calcsi licate/skarn, quartz -sericite-pyrite and
potassic) and timing of mineralization (Jurassic). Both Corral and Bisbee are also gold enriched (Copper
Queen produced approximately 2.8M ounces of gold and 77M ounces of silver, making it the largest gold
producer in Arizona2) which is a feature that is not present in all CRD/Porphyry deposits globally. Intrepid
has recognized and prioritized the contribution of gold mineralization to the upside exploration potential of
the project and has been working to further it’s understanding of the distribution of gold at Corral. Intrepid
identified a series of important syn- to post-mineral breccias that occur internal to Ringo, Earp and Holliday
but also in many other parts of the Property (emerging targets) which have the potential to contribute
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significant volumes of gold mineralization and represent a focus for future exploration drilling on the
Property.
Gold Highlights from Intrepid’s 2024 and 2025 drill program:
- 105.20m of 0.55 gpt Au including 48.85m of 0.97 gpt Au in Hole CC24_011
- 44.40m of 0.53 gpt Au including 3.30m of 1.86 gpt Au in Hole CC24_013
- 79.00m of 0.65 gpt Au including 33.00m of 1.43 gpt Au and 2.35m of 15.84 gpt Au in Hole CC24_014
- 112.95m of 0.53 gpt Au including 63.40m of 0.91 gpt Au in Hole CC24_023
- 49.10m of 0.78 gpt Au including 23.05m of 1.31 gpt Au in Hole CC25_029
- 37.50m of 1.00 gpt Au in Hole CC25_030
Image 1: Drillhole CC25_037 at 258.2m sho wing patches of chalcopyrite >pyrite in the Courtland
Hydrothermal Breccia
Image 2: Drillhole CC25_037 at 266.7m showing vienlets of chalcopyrite>pyrite in the Courtland
Hydrothermal Breccia
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Economic Geology of Corral
Precious and base metal mineralization at Corral is concentrated in structurally controlled northeast
dipping siliciclastic and carbonate sedimentary rocks including (oldest to youngest) Cambrian Bolsa
Quartzite, upper-Cambrian Abrigo Limestone, Devonian M artín limestone and Mississippian Escabrosa
limestone and in Jurassic aged intrusions. The most intense mineralization occurs in the Abrigo Limestone
(main host) and Bolsa Quartzite, which are intruded locally by a series of Jurassic (and possibly younger)
mineralized intrusions including the Star Hill, Copper Bell and Sniveler porphyries, quartz latite sills, and
cross-cutting mineralized breccia bodies.
The Corral Copper Property includes the Holliday, Earp and Ringo Zones (northwest to southeast), which
are related zones of discontinuously outcropping, locally high grade CRD, skarn and distal porphyry related
mineralization and associated supergene enrichment that formed in the distal porphyry copper geological
environment. A significant component of Intrepid’s discovery strategy at Corral is to leverage distal
alteration and mineralization to vector toward one or more mineralized porphyry copper centers (see News
Release dated April 15, 2025).
The Ringo Zone is located at the southern end of a 3 .5km long string of copper-gold-silver-zinc bearing
carbonate replacement bodies. The Ringo Zone measures approximately 900m (northwest to southeast)
by 800m (southwest to northe ast) and contains favorable Abrigo Limestone (and Bolsa Formation), pre -
mineral intrusions, alteration and copper-gold-silver-zinc replacement style mineralization and secondary
enriched copper oxide zones that are locally high-grade.
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.
Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data
underlying the information or opinions contained in this news release. Mr. MacNeil verified the data
disclosed (including previously released Intrepid data underlying the information disclosed) in this news
release by reviewing imported and sorted assay data; checking the performance of blank samples and
certified reference materials; reviewing the variance in field duplicate results; and reviewing g rade
calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is
not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability
of the drilling data referred to in this news release.
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Figure 1: Drill plan map from the Ringo Zone at Corral Copper
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Table 1: Drill Intercepts for the Ringo Zone1
CC25_037 COMPOSITE INTERCEPTS
DRILL HOLE DETAILS ANALYZED GRADE
DILUTED METAL
EQUIVALENT1
DRILL HOLE FROM TO LENGTH COPPER GOLD SILVER ZINC CUEQ AUEQ
ID (m) (m) (m) (%) (ppm) (ppm) (%) (%) (ppm)
CC25_037 8.00 9.45 1.45 0.02 0.13 0.25 0.00 0.10 0.13
CC25_037 26.00 27.50 1.50 0.10 0.01 0.25 0.00 0.10 0.13
CC25_037 38.10 52.25 14.15 0.10 0.02 0.42 0.16 0.14 0.19
CC25_037 64.00 65.50 1.50 0.16 0.04 0.25 0.01 0.16 0.22
CC25_037 74.50 76.00 1.50 0.08 0.03 0.25 0.02 0.09 0.13
CC25_037 97.50 99.00 1.50 0.10 0.02 0.25 0.01 0.09 0.13
CC25_037 102.00 103.60 1.60 0.04 0.07 0.25 0.01 0.08 0.11
CC25_037 109.00 116.50 7.50 0.11 0.03 0.70 0.01 0.11 0.16
CC25_037 124.00 125.50 1.50 0.13 0.07 2.30 0.03 0.18 0.24
CC25_037 129.65 131.05 1.40 0.10 0.02 1.50 0.12 0.14 0.19
CC25_037 148.00 150.40 2.40 0.10 0.02 0.63 0.06 0.11 0.15
CC25_037 164.50 305.30 140.80 0.27 0.15 3.37 0.08 0.36 0.49
Incl. 218.00 305.30 87.30 0.39 0.18 4.89 0.11 0.49 0.68
And 231.35 263.50 32.15 0.66 0.29 9.87 0.24 0.85 1.17
And 250.20 263.50 13.30 0.94 0.40 10.31 0.18 1.15 1.57
And 297.05 301.50 4.45 0.66 0.45 4.13 0.01 0.86 1.18
Table 2: Drill Hole Location Information for Holes CC25-026 through CC25_043
DRILL START END EASTING NORTHING ELEVATION AZIMUTH INCLINATION DEPTH
HOLE DATE DATE (m) (m) (m) (°) (°) (m)
CC25_026 2025-04-28 2025-05-03 613245 3514003 1424 0 -90 234.4
CC25_027 2025-05-04 2025-05-08 613265 3514017 1423 0 -90 224.65
CC25_028 2025-05-09 2025-05-16 613267 3513936 1420 0 -90 240.8
CC25_029 2025-05-17 2025-05-23 613353 3513985 1415 225 -60 305.1
CC25_030 2025-05-24 2025-05-30 613219 3513900 1423 0 -90 270.7
CC25_031 2025-05-31 2025-06-06 611891 3515918 1501 235 -40 320.65
CC25_032 2025-06-07 2025-06-12 612028 3515934 1472 0 -90 313.05
CC25_033 2025-06-12 2025-06-17 612135 3515757 1485 235 -80 230.1
CC25_034 2025-06-18 2025-06-22 612169 3514840 1495 250 -45 204.2
CC25_035 2025-06-22 2025-06-29 612258 3514776 1494 245 -50 249.95
CC25_036 2025-06-30 2025-07-06 612177 3514898 1497 250 -50 219.6
CC25_037 2025-07-07 2025-07-18 613050 3514029 1435 0 -90 334.65
CC25_038 2025-07-19 2025-07-29 613337 3513870 1422 0 -90 282.55
CC25_039 2025-07-30 2025-08-09 613276 3513906 1420 0 -90 255.75
CC25_040 2025-08-10 2025-08-22 613341 3513664 1438 0 -90 331.30
CC25_041 2025-08-23 2025-08-27 613099 3513981 1428 0 -90 310.00
CC25_042 2025-08-28 2025-09-02 613188 3513970 1425 0 -90 274.90
CC25_043* 2025-09-03 613305 3514040 1420 0 -90
*Hole in progress at time of news release
Quality Assurance and Quality Control
Drill core was first reviewed by a geologist, who identified and marked intervals for sampling. The marked
sample intervals were then cut in half with a diamond saw; half of the core was left in the core box and the
other half was removed, placed in plastic bags, sealed and labeled. Intervals and unique sample numbers
are recorded on the drill logs and the samples are sequenced with standards and blanks inserted
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according to a predefined QA/QC procedure. The samples are maintained under security on site until they
are shipped to the analytical lab.
All core samples were sent to ALS Geochemistry (ALS), a division of ALS Global, in Tucson, Arizona, for
sample preparation, with pulps sent to the ALS Geochemistry laboratory in Reno, Nevada for analysis.
ALS meets all requirements of International Standar ds ISO/IEC 17025:2017 and ISO 9001:2015 for
analytical procedures and is independent of the Company. HQ size core was split and sampled over
approximately two metre intervals. Samples were analyzed using: ALS's Fire Assay Fusion method (Au -
AA23) with an AA finish for gold and by gravimetric finish (Au-GRA21) for samples assaying greater than
10 ppm (gpt) gold; by a 36-element four acid digest ICP-AES analysis (ME-ICP61) with additional analysis
for Ore Grade Cu (Cu -OG62), Ore Grade Zn (Zn -OG62) and Ore Grade Pb (Pb -OG62); and for silver
assays above 100 ppm (g/t) by Fire Assay Fusion method with gravimetric finish (Ag-GRA21). ME-ICP61
results were reported in parts per million (ppm), Ore Grade (OG62) results were reported in percent (%).
In addition to ALS q uality assurance- quality control (QA/QC) protocols, Intrepid implements an internal
QA/QC program that includes the insertion of sample blanks, duplicates, and standards, with QA QC
control samples comprising approximately 10% of the sample stream.
About Corral Copper
The Corral Copper Property, located near historical mining areas, is an advanced exploration and
development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining
town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than
8 billion pounds of copper2. Production from the Bisbee mining camp, or within the district as disclosed in
the next paragraph, is not necessarily indicative of the mineral potential at Corral.
The district has a mining history dating back to the late 1800s, with several small mines extracting copper
from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various
companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on
discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of
historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core
has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses
for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration
drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity
of this data.
Intrepid is confident that by combining modern exploration techniques with historical data and with a clear
focus on responsible development, the Corral Copper Property can quickly become an advanced
exploration stage project and move towards development studies.
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 20183, 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.
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INTREPID METALS CORP.
On behalf of the Company
“Mark Morabito”
Chairman & CEO
For further information regarding this news release, please contact:
Mark Morabito, Chairman & CEO
604-681-8030
Notes
1 Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper,
gold, silver and zinc assay values according to a 0.10% CuEq (see below) cutoff and include a maximum of 10 meters of internal
dilution. All intervals reported are down hole core lengths, and true thicknesses have yet to be determined. Mineral resourc e
modeling is required before true thicknesses can be estimated. Analyzed Grade corresponds composite weighted (“composites”)
averages of laboratory analyses. Metal Equivalent assumes estimated recovery factors including 85% recovery for copper, and
80% recovery for gold, silver and zinc for reported composite intervals. Metal prices used for the CuEq and AuEq calculation s
are in USD based on Ag $22.00/oz, Au $1900/oz, Cu $3.80/lb, Zn $1.15/lb The following equation was used to calculate copper
equivalence: CuEq = Copper (%) (85% rec.) + (Gold (g/t) x 0.71)(80% rec.) + (Silver (g/t) x 0.0077)(80% rec.) + (Zinc (%) x
0.28)(80% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (gpt)(80% rec.) + (Copper (%) x
1.4085)(85% rec.) + (Silver (gpt) x 0.0108)(80% rec.) + (Zinc (%) x 0.4188)(80% rec.). Analyzed metal equivalent calculations are
reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most
dollar value after accounting for assumed recoveries.
2 Information disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website
and on the City of Bisbee website (www.bisbeeaz.gov/2174/Bisbee-History).
3 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; a transition toward copper-gold porphyry-
style systems Ringo’s potential as a shallow, bulk-minable porphyry target; the completion of additional drillholes; 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 fina ncing, 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
concerning property titles and interests, environmental risks and the additional ri sks identified in the “Risk Fac tors” 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
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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.