Mr. Ken Brophy reports

INTREPID METALS COMMENCES INITIAL DRILL PROGRAM AT CORRAL COPPER PROPERTY IN ARIZONA

Intrepid Metals Corp.'s drilling has commenced on the Corral copper property in Cochise county, Arizona. The 5,000-metre drill program is being carried out by Godbe Drilling LLC and is expected to take four months to complete.

"We are very excited to have the drill turning on our Corral copper property," said Ken Brophy, chief executive officer of Intrepid. "After consolidating the previously fragmented property via several property transactions, we now have 9,600 acres and a previously established the three-kilometre trend of impressive copper and gold mineralization within our patented mining claims and additional surface rights. We'd like to thank everyone involved for getting this program launched so quickly and I'm excited to execute on our initial drill program and have the opportunity to create significant value for the company and our shareholders."

The 5,000 m (23 hole) diamond drill program has started at the Holliday zone (previously Courtland North), where seven holes (roughly 1,200 m) are planned. The drill 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. The drill program is expected to verify the fragmented historical results from various previous drill campaigns and extend certain holes that ended in mineralization.

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 the Corral copper property

The Corral copper property is a district scale advanced exploration and development opportunity in Cochise county, Arizona. The Corral copper property 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 provide 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.

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