Idex receives USFS approval for exploration at Freeze

Executive Summary

• The U.S. Forest Service granted Idex Metals a categorical exclusion, allowing expanded exploration—including diamond drilling—at the Freeze project in Idaho.
• Idex completed its first 2025 drill hole (KSMT25001) at the Kismet target, confirming historic mineralization and intersecting oxide‑ and sulfide‑copper zones to a depth of 278 m; assay results are expected September 2025.
• A second hole (KSMT25002) has already reached >404 m and continues to encounter mineralized intrusive and breccia units, with assays anticipated in October 2025.

Key Details

• USFS Approval: Categorical exclusion (CE) issued for expanded exploration on Idex’s wholly‑owned Freeze project (Washington County, Idaho). Enables diamond drilling, ground‑based geophysics, mapping, and sampling.
• Drill Program – Kismet Target:
• Objective 1: Confirm subsurface presence of historic tourmaline‑bearing breccia.
• Objective 2: Test depth for a potential porphyry source.
• Hole KSMT25001:
• Depth = 278 m (≈4× deeper than 1965 hole).
• Encountered continuous oxide and sulfide mineralization; stopped due to technical conditions.
• Core processed at AGAT Laboratories, Calgary; assays pending September 2025.
• Historical Reference: 1965 drilling intersected 41.15 m @ 0.85 % Cu (hole 4).
• Hole KSMT25002:
• Depth > 404 m and still drilling.
• Ongoing mineralized intrusive and breccia intervals; assays expected October 2025.
• Geological Findings (KSMT25001):
• Surface oxide minerals: malachite, chrysocolla replacing chalcopyrite.
• Transition to sulfide‑dominant zones (pyrite, chalcopyrite, molybdenum) at depth.
• Intrusive suite ranging from gabbro to granodiorite; complex breccia system with hydrothermal overprint.
• Qualified Person: David Hladky, P.Geol., Vice‑President of Exploration, reviewed and approved technical content per NI 43‑101.

Notable Quotes

“We're really pleased to have the green light to drill CM. It's a big target we've been eager to test and adding it to the program makes this project even more exciting.” – Clayton Fisher, CEO, Idex Metals

All forward‑looking statements are subject to risks and uncertainties; readers should consult the company's full filings for additional information.