Mr. Ken Engquist reports

INTREPID METALS ENGAGES INDEPENDENT TRADING GROUP AS MARKET MAKER

Intrepid Metals Corp., subject to regulatory approval, has engaged the services of Independent Trading Group (ITG) under the terms of a market-making services agreement to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the company on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the company's common shares.

Under the agreement, ITG will receive compensation of $7,500 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days of notice. There are no performance factors contained in the agreement, and ITG will not receive shares or options as compensation. ITG and the company are arm's length, unrelated and unaffiliated entities, and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the company. The company will finance the compensation under the agreement from its cash on hand.

ITG is a Toronto-based CIRO (Canadian Investment Regulatory Organization) dealer-member that specializes in market-making, liquidity provision, agency execution, ultralow-latency connectivity and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors. ITG's head office is located at 33 Yonge St., Suite 420, Toronto, Ont., Canada M5E 1G4.

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) and 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 (South32 completes acquisition of Arizona Mining).

We seek Safe Harbor.