Intrepid Metals Corp. provided additional details, including its 2023 exploration plans, surrounding the recently announced district scale, advanced exploration and development copper property, the Corral Copper Project (the "Project"), in Cochise County, Arizona. The Project is located 15 miles east of the famous mining town of Tombstone & 22 miles north of the historical Bisbee mining camp which has produced more than 8 billion pounds of copper with grades of up to 23%.

Drilling on the Project is expected to take place later this year after the historical data has been compiled into a new database. All of the historical drill logs and assay data will be re-examined in order to distinguish the copper mineralization (e.g. supergene chalcocite, supergene oxide and primary sulfide zones) ahead of more detailed modeling. This modeling will help guide Intrepid's confirmation drill program and enable the Company to advance the Project much quicker than a typical exploration drill campaign.

The two cross sections below show the historical drill results within the recently acquired patented mining claims and highlight some of the copper, silver, gold and zinc grades within the Project. Historical Drilling Highlights: Copper ("Cu") highlights, as well as the corresponding silver ("Ag"), gold ("Au") and zinc ("Zn") grades, from historic drilling on the Project are included below: 126.2m at 1.24% Cu and 3.45 grams per tonne ("g/t") Ag (30.4m to 156.6m), including 5m at 3.6% Cu in Hole 20_01, 104.9m at 1.31% Cu, 4.89 g/t Ag and 0.43 g/t Au (60.8m to 165.7m), including 7.6m at 3.74% Cu in Hole 20_21, 71.4m at 0.75% Cu and 26.43 g/t Ag (66.9m to 138.3m),including 6m at 3.5% Cu in Hole NCTR_11, 44.0m at 1.35% Cu, 30.38 g/t Ag, 0.21 g/t Au and 0.28% Zn (35.0m to 79.0m), including 7.6m at 3.9% Cu and another 41.0m at 0.32% Cu and 9.18 g/t Ag (106.4m to 147.4m) in Hole BR_06_81, 51.7m at 1.01% Cu, 7.98 g/t Ag and 0.39 g/t Au (63.8m to 115.5m) in Hole 20_37, 62.4m at 0.74% Cu and 3.85 g/t Ag (25.8m to 88.2m) in Hole 20_36, 63.9m at 0.62% Cu, 8.50 g/t Ag, 0.42 g/t Au and 0.25% Zn (79.0m to 142.9m) in Hole BR_06_100, 41.0m at 0.73% Cu and 3.01 g/t Ag (21.3m to 62.3m) and another 30.4m at 0.70% Cu, 5.03 ("g/t") Ag and 0.35 g/t Au (79.0m to 109.4m) in Hole 20_03, 41.1m at 0.86% Cu and 17.70 g/t Ag (25.8m to 66.9m) in Hole CG_08, 25.9m at 1.10% Cu, 6.68 g/t Ag, 0.39 g/t Au and 0.20% Zn (101.8m to 127.7m) in Hole NCTR_07, 62.3m at 0.36% Cu (0.0m to 62.3m) in Hole 20_08, 36.5m at 0.37% Cu, 11.9 g/t Ag and 0.44 g/t Au (68.4m to 104.9m) in Hole 20_09, 27.4m at 0.91% Cu, 5.72 g/t Ag and 0.47 g/t Au (85.1m to 112.5m) in Hole 20_13, 39.5m at 0.30% Cu and 3.35 g/t Ag (112.5m to 152.0m) in Hole 20_34, 36.5m at 0.54% Cu and 0.26 g/t Au (6.1m to 42.6m) in Hole 20_41, 35.0m at 0.52% Cu (67.8m to 102.8m) in Hole NCTR_08, 30.4m at 0.45% Cu, 7.28 g/t Ag and 0.32 g/t Au (7.6m to 38.0m) and another 42.6m at 0.68% Cu, 14.18 g/t Ag, 0.26 g/t Au and 0.21 Zn (54.7m to 97.3m) in Hole BR_06_73. The drill results are historical in nature.

Intrepid has not 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 this 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 further drilling. Geological Cross-Sections with Historical Drill Results: Sections below are created from composities derived from the historical drill results and considers a cut-off of 0.2% Cu over a length of 20m with 7m waste.