Intrepid Metals Corp. introduced its new district scale, advanced exploration copper property, the Corral Copper Project, in Cochise County, Arizona. The project area is located approximately 20 miles from the Company's Tombstone South property and has over 50,000 metres ("m") of drilling, with shallow mineralization of copper, silver, zinc, and gold.

Intrepid has concluded transactions for 100% ownership with two of the large individual land holders in the Corral district and remains actively engaged with other stakeholders to further consolidate land holdings in the area. The Corral Copper Project combines two previously announced agreements, both of which have been approved by the TSX.V: the definitive agreement with Cave Creek Copper Inc. announced on February 15, 2023; and the purchase and sale agreement with Excelsior Mining Corp. announced on August 26, 2022.

Many members of the Intrepid team have a long history of working in the State of Arizona and Cochise County in particular, and this experience is key as the Company expands its asset base in the County. Over 50,000m of historical drilling has been completed within the district, with significant near surface intercepts, including 126.2m (30.4m to 156.6m) of 1.24% copper in Hole 20_01, drilled by Santa Fe Pacific Mining Inc. in 1990. This drill result is historical in nature and based on assay information from Ski Line Labs Inc. Intrepid has not yet undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results.

Intrepid considers these historical drill results relevant, as the Company will use this data as a guide to plan future exploration programs. Intrepid also considers the data to be reliable for these purposes; however, the Company's future exploration work will include verification of the data through drilling.