Intrepid Metals Intersects 177.25m of 0.58% Copper Equivalent from Ringo Zone at Corral Copper

On October 22, 2025, Intrepid Metals announced assay results for two additional diamond drill holes from the Ringo Zone at its flagship Corral Copper Property in Arizona. - Hole CC25_041 intersected 177.25 meters of 0.58% copper equivalent (CuEq), composed of 0.41% Copper (Cu), 0.195 grams per tonne (g/t) Gold (Au), and 2.52 g/t Silver (Ag). - Hole CC25_042 intersected two separate mineralized zones: 26.5 meters of 0.35% CuEq and 47.85 meters of 0.49% CuEq. - The CEO stated that the results advance the geological understanding of the project and strengthen the company's strategic position, reinforcing the view that Corral has the potential to attract major industry players.

The drill results are materially positive as they confirm the continuity and scale of the mineralized system at the Ringo Zone. The main intercept in hole CC25_041 (177.25m of 0.58% CuEq) is a robust, long interval that is consistent with, or slightly lower grade than, other strong intercepts announced this year (e.g., 216.5m of 0.85% CuEq on July 10; 85.05m of 0.70% CuEq on Sept 23). While not a game-changing result like the discovery of the new high-grade Clanton Zone (24.35m of 2.30% CuEq on Oct 2), this result successfully adds significant mineralized volume and de-risks the project by demonstrating predictability.

Crucially, this news follows the announcement of an upsized $6.7 million financing at $0.35 per unit. Strong, consistent drill results are essential to support this capital raise and maintain investor confidence. These results achieve that objective. They confirm that the exploration program is delivering, justifying the ongoing expenditure and dilution. The results from hole CC25_042 are less impressive and highlight that mineralization is not homogenous, which is a typical exploration risk.

Overall, the news is a solid, incremental step forward that reinforces the existing thesis. It is not transformative on its own, but it successfully supports the company's immediate need to fund its ongoing operations and exploration.

Intrepid Metals Corp. is a junior mineral exploration company focused on copper projects in the Tier-1 jurisdiction of Arizona, USA. - Flagship Project: The Corral Copper Property in Cochise County. The project is prospective for carbonate replacement deposits (CRDs), skarn, and porphyry-style copper-gold-silver-zinc mineralization. - Development: The company has been consolidating the land package and conducting systematic exploration, including geophysics and diamond drilling. The 2024 and 2025 drill programs have successfully identified and expanded several mineralized zones, including Ringo, Earp, Holliday, and the newly discovered Clanton zone. The project is gaining credibility due to consistent, long intercepts of copper mineralization and validation from major mining companies like Rio Tinto and Ivanhoe Electric acquiring adjacent land. The property is royalty-free.