Intrepid Metals Extends Expiry Date of Warrants by 90 Days
NEWS RELEASE
Intrepid Metals Extends Expiry Date of Warrants by 90 Days
December 10, 2025 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV:INTR) (OTCQB:IMTCF)
(“Intrepid” or the “Company”) announces that the Company intends to extend the exercise period of
a total of 19,046,764 share purchase warrants, all of which are exercisable at $0.45 per common share
(collectively, the "Warrants") by 90 days. The Warrants were issued pursuant to private placements that
closed on January 5, 2024 and January 24, 2024 , respectively. The Company proposes to extend the
expiry dates for (i) 9,499,999 of the Warrants, originally issued on January 5, 2024, to April 5, 2026 and
(ii) 9,546,765 of these Warrants, originally issued on January 24, 2025, to April 24, 2026. All other terms
and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by
the TSX Venture Exchange (“TSX-V”).
A total of 9,146,567 Warrants are held by parties who are "related parties" of the Company. Therefore,
the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral
Instrument 61-101 - Protection of Minority Shareholders in Special Transactions (“MI 61-101”), and TSX-
V Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions
from formal valuation and minority approval requirements provided for by these guidelines can be relied
upon as the fair market value of the Warrants does n ot exceed 25% of the market capitalization of the
Company. The Company did not file a material change report related to this transaction more than 21
days before the expected closing of the Warrant Extension as required by MI 61-101 since the decision
to extend the warrants was made on an expedited basis for sound business reasons.
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 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 1, 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-V under the symbol “INTR”
and on the OTCQB Venture Market under the symbol “IMTCF”. For more information, visit
www.intrepidmetals.com.
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).
INTREPID METALS CORP.
On behalf of the Company
“Mark Morabito”
Chairman & CEO
Page 2 of 2
For further information regarding this news release, please contact:
Mark Morabito, Chairman & CEO
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 the proposal to extend the terms of the Warrants, TSX Venture Exchange approval of the proposal
to extend the Warrants and the exploration and development potential of the Company’s mineral properties.
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 c ertain 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 oper ations; 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 ex pressed 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 financi al conditions, risks
related to current global financial conditions and the i mpact 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 i ncluding 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 r isks 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.