Mr. Ken Brophy reports

INTREPID METALS MOBILIZES DRILL AND RENAMES ZONES AT CORRAL COPPER PROPERTY IN ARIZONA

The drill rig for Intrepid Metals Corp.'s upcoming initial 5,000-metre program has arrived on site at the Corral copper property in Cochise county, Arizona.

"We are excited for the next stage of our growth and to have the drill mobilized to site," said Ken Brophy, chief executive officer of Intrepid. "After 18 months of consolidating the property via several different property transactions, we now have 9,600 acres and a previously established three-kilometre trend of impressive copper and gold mineralization within patented mining claims and additional surface rights. After compiling all the historical drill data and most recently completing our $6.6-million financing, we are well positioned to execute on our initial drill program and excited to have the opportunity to derisk our Corral copper property and build substantial value for Intrepid and its shareholders."

The 5,000 m (23-hole) diamond drill program is expected to start at the Holliday zone (previously Courtland North), where seven holes (roughly 1,200 m) are planned. The drill program will then continue on to the Earp zone (previously Courtland South), where five holes (roughly 900 m) are planned and finally to the Ringo zone (previously Man), where the final 11 holes (roughly 2,900 m) are planned.

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 these 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.

Dr. Chris Osterman, PGeo, a consultant of the company, is a qualified person as defined by National Instrument 43-101. Dr. Osterman has reviewed and is responsible for the technical information disclosed in this news release, including the statements with respect to data verification.

About Corral

The Corral copper property is a district-scale advanced exploration and development opportunity in Cochise county, Arizona. Corral Copper is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historical Bisbee mining camp which has produced more than eight billion pounds of copper. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral.

The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was unco-ordinated, non-synergistic, and focused on discrete land positions and commodities due to the fragmented ownership. Intrepid has been able to secure data from various sources which provides a solid foundation in creating geological interpretations and identifying new target areas.

Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral copper property can quickly become an advanced exploration-stage project and move toward development studies.

About Intrepid Metals Corp.

Intrepid Metals is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, lead 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), 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 Venture Exchange under the symbol INTR and on the OTCQB Venture Market under the symbol IMTCF.

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