Mr. Matthew Lennox-King reports

INTREPID METALS LAUNCHES FIRST SYSTEMATIC EXPLORATION PROGRAM AT MATTIE GOLD PROSPECT

Intrepid Metals Corp. has commenced a rock and soil sampling program at the Mattie prospect within the company's district-scale Corral copper project in Cochise county, Arizona. This is the first ever gold-focused exploration initiative for the project.

The planned program includes a detailed soil sampling grid designed to resolve the dimensions of the surface gold mineralization footprint at Mattie, the orientation of gold mineralization and establish targets for follow-up drilling. Approximately 1,170 soil samples will be collected across an area measuring approximately 1,900 by 1,500 metres (m), using sample spacing of 50 m. The company expects the field program to take approximately three weeks to complete.

Mattie represents a separate and distinct third style of mineralization recognized at Corral, complementing the project's established carbonate replacement deposit (CRD) style mineralization and emerging porphyry copper potential. Located within the central portion of the Corral project, Mattie provides the company with an additional opportunity to evaluate the broader precious metals potential of the district.

"Mattie adds an important new dimension to the exploration opportunity at Corral," said Matt Lennox-King, chairman and interim chief executive officer of Intrepid. "While much of our work at the project has focused on expanding the known copper-gold-silver CRD style mineralization and identifying its potential porphyry source, Mattie represents a distinct gold-focused target in the centre of the project. This initial systematic program will help us build a stronger geological and geochemical framework for Mattie and determine the most effective next steps for advancing the prospect."

Mattie gold prospect

Historical exploration at Mattie included trenching, geological mapping, geochemical sampling and geophysical surveys, primarily targeting low-sulphidation gold mineralization. Despite this earlier work, the area has seen limited systematic modern exploration.

The current program is intended to provide consistent geochemical coverage across Mattie, assess the continuity of previously identified gold-bearing trends, and evaluate areas concealed by limited outcrop or surface cover. Results will be integrated with historical geological, geochemical and geophysical information to refine the company's exploration model and identify targets for potential follow-up mapping, sampling, geophysics and drilling.

Corral 2026 exploration program

Work at Mattie forms part of Intrepid's broader 2026 exploration program at Corral. The company is advancing an integrated program designed to expand the known CRD mineralization, develop and test porphyry copper targets, and systematically evaluate additional exploration opportunities across the district-scale property.

The company's continuing work at Corral includes geological mapping, detailed drill core review, targeted field investigations and portable X-ray fluorescence (pXRF) analysis. This work will be integrated with the company's approximately 65-line-kilometre induced polarization (IP) survey planned for August to further refine and prioritize targets ahead of the September drill program, which includes approximately 5,000 metres dedicated to testing high-priority porphyry targets.

About Corral copper

The Corral copper project is a district-scale, advanced exploration-stage opportunity located in Cochise county, Arizona, approximately 24 kilometres east of the historic mining town of Tombstone and 35 kilometres north of the historic Bisbee mining district, which has produced more than eight billion pounds of copper. Production from the Bisbee mining district is not necessarily indicative of the mineral potential at Corral.

The project hosts widespread copper-gold-silver-zinc mineralization across an approximately 3.5-kilometre-by-1.5-kilometre area, including substantial shallow and high-grade CRD-style mineralization identified through historical and recent drilling. Intrepid is also advancing multiple targets for a potential porphyry copper-gold system that may be associated with the known CRD mineralization.

Technical information

All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, PGeo. Mr. MacNeil is a technical adviser to the company and is a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Intrepid Metals Corp.

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 property, an advanced exploration-stage, district-scale system with extensive drilling and significant shallow results, complemented by the Tombstone South and Mesa Well properties. 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.