Mr. Matthew Lennox-King reports

INTREPID METALS REPORTS LARGE, MULTI-LINE, MULTI-STATION GOLD IN SOILS ANOMALIES INCLUDING + 1 G/T FROM MATTIE GOLD TARGET AT CORRAL COPPER IN ARIZONA

Intrepid Metals Corp. has released results from soil sampling at the Mattie gold target within its Corral copper project in Cochise county, Arizona. The results identify multiple, large zones of anomalous gold and silver values in soils, including areas associated with previously reported gold-bearing rock samples. Located approximately 3.25 kilometres south of the Ringo zone, Mattie is an emerging gold target where soil sampling results, together with the company's rock chip results and widespread surface alteration, support further exploration.

Highlights:

• Gold soil anomalies support Mattie's exploration potential: Elevated gold in soils occurs around several areas of previously reported gold-bearing rock samples and highlights additional areas for follow-up, with a high over 1.0 gram per tonne gold.
• Silver results complement the gold anomalies: Silver values reach 2.50 g/t in soils, with a prominent northwest-southeast trend in the central and eastern portions of the mapped area and additional localized anomalies.
• Combined results strengthen exploration priorities: The soil results, previously reported rock sampling and widespread surface alteration, provide a basis for prioritizing detailed mapping and additional rock and channel sampling to refine potential drill targets.

"The strength of the gold response in soils adds to our confidence in Mattie's exploration potential," said Matt Lennox-King, interim chief executive officer and chair of Intrepid. "The soil results complement our previously reported rock sampling and highlight additional areas for follow-up. Combined with the widespread surface alteration, they give us a compelling basis for advancing exploration at Mattie."

Soil results refine exploration priorities

The soil results build on the rock sampling reported in the company's Oct. 20, 2026, news release, which returned values including 21.0 g/t gold and 195 g/t silver. Gold soil values range from 0.0006 g/t to greater than 1.0 g/t, with 52 samples exceeding 0.05 g/t gold and 22 exceeding 0.10 g/t gold (see table 1 below).

Several distinct areas have an elevated response rather than a single uniform anomaly. Some coincide with clusters of previously reported gold-bearing rock samples while others occur where rock sampling is more limited. These areas provide a basis for additional fieldwork.

Silver in soils broadly overlaps parts of the gold response although the silver distribution includes an elongated northwest-southeast pattern through the central and eastern portions of the survey, as well as localized responses farther west and south. Comparing these patterns with the gold results and mapped geology will help identify areas for closer examination.

Mattie lies approximately 3.25 km south of the Ringo zone. Previously reported field observations associate gold with hematite alteration in fractured sedimentary rocks. The soil survey provides a broader geochemical data set to support investigation of this target, including areas where bedrock exposure is limited.

Next steps at Mattie

The company plans to integrate the soil results with its geological observations and rock sampling to prioritize detailed mapping and additional rock and channel sampling. This work is intended to investigate the sources of the soil anomalies, improve understanding of the controls on mineralization and refine potential drill targets.

Soil sampling and quality assurance

A total of 686 soil samples were analyzed by ALS USA Inc. in Reno, Nev., including a 52-element supertrace package with an aqua regia digest and ICP-MS finish (AuME-ST44), with overlimit copper, lead and zinc (Cu-OG46, Pb-OG46 and Zn-OG46) and loss on ignition (OA-GRA05)

Certified laboratory check samples (standards and blanks) were inserted into the sample series at a frequency of one check sample for every 20 soil samples. ALS USA Inc. is independent of the company. No issues with the results were detected, and these data have been reviewed and approved by Intrepid's qualified person. Historical exploration data were used to guide follow-up geological mapping/prospecting and sampling at Mattie.

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).

Mr. MacNeil has verified the data underlying the scientific and technical information disclosed in this news release. Mr. MacNeil detected no significant quality assurance/quality control issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.

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, United States. 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.

Teck Resources Ltd. became an equity stakeholder in Intrepid at the end of 2025. 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.

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