Mr. Mark Morabito reports

INTREPID METALS ANNOUNCES UPSIZE OF PRIVATE PLACEMENT FINANCING TO $6.7 MILLION

Due to strong investor demand, Intrepid Metals Corp. has increased its previously non-brokered private placement to up to 19,142,858 units, with each unit consisting of one common share and one-half of one common share purchase warrant at a price of 35 cents per unit for aggregate gross proceeds of $6.7-million. Each full warrant shall entitle the holder thereof to acquire one additional common share at a price of 50 cents for a period of 24 months from the closing date of the offering. All securities issued in connection with the offering will be subject to a hold period of four months from the date of issuances.

The net proceeds of the offering will be used for exploration expenditures, working capital, property payments and a bridge to completion of a strategic partnership transaction.

Finders' fees of 6 per cent in cash and 6 per cent in non-transferrable finder warrants exercisable at a price of 35 cents for a period of 24 months from the closing date of the offering, may be paid on a portion of the offering in accordance with the policies of the TSX Venture Exchange.

Intrepid intends to close the offering on or around Oct. 24, 2025, or such a date as the company may determine. Closing of the offering is subject to approval of the TSX Venture Exchange.

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-V under the symbol INTR and on the OTCQB Venture Market under the symbol IMTCF.

We seek Safe Harbor.