Mr. Mark Morabito reports

INTREPID METALS ANNOUNCES LEADERSHIP TRANSITION

Mark Morabito will become the chief executive officer of Intrepid Metals Corp., replacing Ken Engquist. Mr. Morabito will now be chairman and CEO of the company.

Mr. Morabito has more than 20 years of experience in the public markets with expertise in raising capital and corporate development. He is the founder of King & Bay West, a merchant bank and technical services company that specializes in identifying, financing, developing and managing high-potential opportunities. Mr. Morabito founded, and has been the principal driving force behind, a number of successful resource development companies. He has raised over $1-billion in financing, including leading the team that struck an off-take agreement with Hebei, China's largest steel producer, worth over $400-million. Mr. Morabito has a BA from Simon Fraser University and completed his JD at the University of Western Ontario.

The leadership transition from Mr. Engquist to Mr. Morabito is driven by personal considerations on Mr. Engquist's part. While stepping down as CEO, Mr. Engquist will remain engaged with Intrepid Metals as a member of its advisory board. The company expresses its gratitude for his valuable contributions during his tenure and looks forward to his continued involvement and support in this new role.

About Intrepid Metals Corp.

Intrepid Metals is a Canadian company focused on exploring for high-grade essential metals such as copper, silver and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona. 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 (1), 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.

(1) Details regarding the sale of the Taylor deposit can be found in South32 news release dated Oct. 8, 2018.

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