Mr. Matthew Lennox-King reports

INTREPID METALS RAISES OVER C$6 MILLION THROUGH STRONG WARRANT EXERCISE PARTICIPATION

All holders of the warrants issued in connection with Intrepid Metals Corp.'s Jan. 8, 2024, non-brokered private placement have elected to exercise their warrants. A total of 9,499,999 warrants were issued as part of the financing, with each warrant exercisable to purchase one additional common share of the company at an exercise price of 45 cents per share. All warrants have been exercised, generating proceeds of approximately $4.27-million.

In addition to the warrants issued in the first tranche 2024 financing that have been exercised, an additional 4,631,791 warrants issued in other financings have been exercised so far in 2026, providing further proceeds of approximately $2.14-million. An additional 5,135,645 warrants remain outstanding and are set to expire on April 24, 2026, at an exercise price of 45 cents per share, representing potential additional proceeds of approximately $2.31-million.

"We are very pleased to see such strong participation from our warrantholders," stated Matt Lennox-King, interim chief executive officer of Intrepid. "With over $6-million received from warrant exercises year to date, alongside Teck Resources Ltd.'s participation in two recent financings, the company has significantly strengthened its treasury. This positions us well to continue advancing our exploration strategy in Arizona and building long-term value for all shareholders."

The proceeds from these warrant exercises significantly strengthen the company's financial position. Since December, 2025, the company has raised gross proceeds of over $16.7-million from financings and warrant exercises. This enhanced treasury provides Intrepid with the flexibility to execute on the exploration and development program at the company's Corral copper project located in Arizona's copper belt.

About Intrepid Metals Corp.

Intrepid is focused on exploring for high-grade essential metals, including copper, silver and zinc, in established mining jurisdictions in southeastern Arizona, United States. 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. 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.

We seek Safe Harbor.