Intrepid Metals Announces Upsize of Private Placement Financing to $6.7 Million
NEWS RELEASE
Intrepid Metals Announces Upsize of Private Placement Financing to $6.7 Million
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
October 14, 2025 (TSXV:INTR) (OTCQB:IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSXV:INTR) (OTCQB:IMTCF)
(“Intrepid” or the “Company”) announces that due to strong investor demand it has increased its
previously non-brokered private placement (the “Offering”) to up to 19,142,858 units (the “Units”), with
each Unit consisting of one common share and one-half of one common share purchase warrant (each
full common share purchase warrant, a “Warrant”) at a price of $0. 35 per Unit for aggregate gross
proceeds of $6.7 million. Each full Warrant shall entitle the holder thereof to acquire one additional
common share at a price of $0.50 for a period of twenty-four (24) months from the closing date of the
Offering. All securities issued in connection with the Offering will be subject to a hold period of four
months from the date of issuances.
The net proceeds of the Offering will be used for exploration expenditures, working capital, property
payments and a bridge to completion of a strategic partnership transaction.
Finder's fees of 6% in cash and 6% in non-transferrable finder warrants exercisable at a price of $0.35
for a period of twenty-four (24) months from the closing date of the Offering, may be paid on a portion
of the Offering in accordance with the policies of the TSX Venture Exchange.
Intrepid intends to close the Offering on or around October 24, 2025, or such a date as the Company
may determine. Closing of the Offering is subject to approval of the TSX Venture Exchange.
This news release does not constitute an offer of securities for sale in the United States. The
securities being offered have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and such securities may not be offered or sold within the
United States absent U.S. registration or an applicable exemption from U.S. registration
requirements.
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 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 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 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 the completion of the Offering or any tranche thereof; the number of secur ities to be issued under
the Offering and the gross proceeds received; the timing of the closing of the Offering; the payment of any finder’s fees and the form thereof;
and the use of net proceeds from the Offering.
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 certain 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 Company receives TSXV approval for the Offering; 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 esti mation 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, failure to receive TSXV approval
for the Offering, 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 concernin g 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.