Mr. Alex Klenman of Leocor Mining reports

LEOCOR MINING INC. ANNOUNCES EXERCISE OF INTREPID METALS CORP. WARRANTS

Leocor Mining Inc. (formerly Leocor Gold Inc.) has exercised an aggregate of 8,823,529 warrants of Intrepid Metals Corp. The warrants were previously acquired by the company as a strategic investment on Jan. 4, 2024, as part of a private placement of units and special warrants.

Prior to the exercise of the warrants, the company held 8,823,529 common shares, representing approximately 8.17 per cent of the issued and outstanding common shares of Intrepid, and 8,823,529 warrants. As a result of the exercise of the warrants, the company now holds 17,647,058 common shares, representing approximately 15.09 per cent of the issued and outstanding common shares of Intrepid. Following this exercise, the company holds no warrants or other convertible securities.

The company has exercised the warrants of Intrepid for investment purposes. Depending on market conditions and other factors, the company may from time to time acquire or dispose of securities of Intrepid or continue to hold its current position.

A copy of the early warning report required to be filed with the applicable securities commission in connection with the investment will be available on SEDAR+ and can be obtained by contacting the company.

Intrepid Metals is focused on exploring for high-grade essential metals, including copper, silver and zinc, in established mining jurisdictions in southeastern Arizona, U.S. The company's portfolio is anchored by the Corral copper project, an advanced-exploration-stage, district-scale system with extensive drilling and significant shallow results, complemented by the Tombstone South and Mesa Well projects. Teck recently became a 14.7-per-cent equity stakeholder in Intrepid, reflecting its strategic interest in the company and its Corral project. Intrepid is led by an experienced technical and management team with a strong record of advancing and permitting projects across North America. The company trades on the TSX Venture Exchange under the symbol INTR and on the OTCQB Venture Market under the symbol IMTCF.

About Leocor Mining Inc.

Leocor Mining is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte mining district. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous approximately 2,000-hectare exploration corridor.

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