Intrepid amends options with Cave Creek, Bronco Creek

Executive Summary

• Intrepid Metals amended its share‑purchase option agreement with Cave Creek Copper Inc., extending cash payment deadline to Nov 30 2025 and increasing the cash consideration by $20,737.50; 38,725 common shares and 220,000 warrants (exercise price $0.42) will be issued to Cave Creek shareholders.
• The company also amended its option‑to‑purchase agreement with Bronco Creek Exploration Inc. for the Mesa Well copper property, restructuring a US$2 million work commitment to be completed by Aug 2027 and adding two cash payments of US$25,000 each together with issuances of 50,000 common shares at each payment date.
• Both amendments remain subject to approval by the TSX Venture Exchange (TSX‑V).

Key Details

• Cave Creek Amendment
• Extension of cash payment deadline to Nov 30 2025.
• Cash payment increased from $414,750 to $435,487.50 (+$20,737.50).
• Issuance of 38,725 common shares to Cave Creek shareholders.

• Issuance of 220,000 warrants, each exercisable for one share at $0.42 per share, with a one‑year term.

• Mesa Well Amendment

• Work commitment of US$2 million now due in full by the fifth anniversary (Aug 2027), eliminating annual expenditure minimums.
• Additional cash payment of US$25,000 and issuance of 50,000 common shares upon TSX‑V approval (first tranche).

• Second cash payment of US$25,000 and additional 50,000 common shares scheduled for the fourth anniversary (Aug 2026).

• Both amendments are subject to TSX‑V approval.

Notable Quotes

(No direct quotes were provided in the release.)