Intrepid Metals to acquire Viewsite claims in Arizona

Mr. Ken Engquist reports INTREPID METALS ACQUIRES KEY PATENTED MINING CLAIMS NEAR IVANHOE ELECTRIC AT CORRAL COPPER PROJECT IN ARIZONA Intrepid Metals Corp. has entered into a purchase and sale agreement with private owners for highly sought-after patented mining claims (the Viewsite claims) immediately south/southwest of the Ringo copper-gold zone at the Corral copper property in Cochise county, Arizona. The Viewsite claims are located within two kilometres of the Ivanhoe Electric claims, which Ivanhoe acquired following Intrepid's successful 2024 drill program. Please refer to Intrepid's news release dated Jan. 15, 2025, for further details. The Viewsite claims cover several prospective targets that are geologically consistent with mineralization previously encountered at the Ringo zone, where drilling intersected 112.95 metres of 1.50 per cent copper and 216.50 metres of 0.71 per cent copper. "The Viewsite claims are strategically located between our high-grade Ringo zone and the claims acquired by Ivanhoe following our highly successful 2024 drill program at Corral and securing these patented mining claims is a strategic step that strengthens our position in the district," said Ken Engquist, chief executive officer of Intrepid. "Located immediately adjacent to our Ringo mineral rights, the Viewsite claims host several compelling targets that we are eager to evaluate through upcoming exploration. An added advantage is that the Viewsite claims are patented mining claims, which provide full ownership of both surface and mineral rights. This advantage streamlines permitting, increases operational flexibility and adds long-term value to our portfolio." The Viewsite claims add 348 acres of patented mining claims and increase the company's land position to roughly 10,346 acres (4,187 hectares). They have excellent exploration potential, supported by geological, geophysical and historical data. The Viewsite claims share key characteristics with the adjoining Ringo zone, including intensely altered multiphase porphyry intrusions, porphyry-style alteration (quartz-sericite-pyrite), and skarn- and carbonate-replacement-style mineralization. Geophysical surveys reveal magnetic and resistivity features consistent with subsurface mineralization, together representing several priority targets. Historical drilling intersected anomalous copper, gold and silver in several locations. The presence of reactive Paleozoic limestones, jasperoids and supportive trace element geochemistry further demonstrates the potential for CRD-style mineralization. Complex structural fabrics, including stacked thrust faults and abrupt geological transitions, enhance the likelihood of mineralization. Zones of high-grade mineralization are present, underscoring the need for additional mapping and drilling. Over all, the Viewsite claims are highly prospective for porphyry-, CRD- and skarn-type systems and warrant continued exploration. The terms of the agreement are as follows: Intrepid shall pay the vendor $100,000 (U.S.) upon closing and the remaining balance of $375,000 (U.S.) on or before Jan. 31, 2026. No common shares or other securities are issuable pursuant to the agreement. The vendor is arm's length to the company. No finders' fees are payable in connection with this transaction. For additional technical information on the drill results disclosed in this news release, including data verification and quality assurance/quality control procedures, please refer to the company's news releases dated July 10, 2025, and July 9, 2024, available on SEDAR+ and Intrepid's website. Daniel MacNeil, PGeo, a consultant of the company, is a qualified person (QP) as defined by National Instrument 43-101. Mr. MacNeil has reviewed and approved the technical information disclosed in this news release. About the Corral copper property The Corral copper property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise county, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp, which has produced more than eight billion pounds of copper. Production from the Bisbee mining camp or within the district as disclosed in the next paragraph is not necessarily indicative of the mineral potential at Corral. The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tonnes. Between 1950 and 2008, various companies explored parts of the district, but the effort was unco-ordinated, non-synergistic, and focused on discrete land positions and commodities due to the fragmented ownership. There are over 50,000 metres of historical drilling at Corral, mainly centred on the Ringo, Earp and Holliday zones, and, although this core has been destroyed, Intrepid has a historical digital drill hole archive database, which the company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through continuing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these data. The Corral copper property currently comprises the Excelsior property, the CCCI properties, the Sara claim group and the Man property. The company has completed the acquisition of the Excelsior property and Sara claim group through purchase and sale agreements. The company has the right to acquire the corporate group that holds the CCCI properties through an option agreement. The company has the right to acquire the Man property through an option agreement. See the "Commitments" section of the company's most recently filed management discussion and analysis for further details. Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral copper property can quickly become an advanced-exploration-stage project and move toward development studies. About Intrepid Metals Corp. Intrepid Metals 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, United States. 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) and the Tombstone South project (within the historical Tombstone mining district with geological similarities to the Taylor deposit, which was purchased for $1.3-billion in 2018, 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 under the symbol INTR and on the OTCQB Venture Market under the symbol IMTCF. We seek Safe Harbor.