Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce plans to drill the Kate Target, a newly generated and prioritized carbonate replacement deposit ("CRD") style copper-gold target at the Company's Corral Copper Project ("Corral" or the "Project") in Cochise County, Arizona. The Company's systematic surface exploration program highlighted the exploration potential of this area approximately 1.5 kilometres south of the Ringo Zone (see Figure 1 below). The Kate Target adds a new area for drill testing as part of the Company's broader assessment of emerging targets at Corral.
"The Kate Target demonstrates how our groundwork is helping us identify and advance additional targets at Corral," said Matt Lennox-King, Chairman and Interim CEO of Intrepid. "Our mapping and geochemical work drew us to this area, and we were encouraged to find that limited historical drilling had returned copper-gold mineralization at depth. There is more here to follow up on, and we look forward to testing Kate with the drill in the coming weeks."
Highlights:
Expanding exploration south: Located 1.5 kilometres south-southwest of the Ringo Zone.
Target developed through Intrepid's groundwork: Geological mapping, surface geochemistry and oxygen-isotope analysis identified Kate as an area warranting further exploration.
Limited historical drilling supports the interpretation: Historical drilling returned copper-gold mineralization in a geological setting similar to that at the Ringo Zone (see Tables 1 and 2 below for results).1
Copper grades up to 3.2%
Gold grades up to 5.72 g/t
Historic drill hole MH-03 ended in mineralization
Multiple indicators of hydrothermal activity: Elevated gold and tellurium, oxygen-isotope results and alteration in the surrounding rocks suggest that mineralizing fluids may have passed through the area.
Drilling planned to evaluate the target: Intrepid plans to drill test the Kate Target in the coming weeks to verify historical results and test for additional copper-gold mineralization, with targets guided by the Company's fieldwork and review of historical drilling.
Figure 1. Location of the Kate Target relative to other exploration areas at Corral Copper
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Groundwork Leads to the Kate Target
Intrepid's geological mapping, rock sampling and stable-isotope analysis earlier this year highlighted the Kate Target as an area for further exploration. This work identified alteration and geochemical vectors that together suggest the rocks have been affected by mineralizing fluids.
Rock samples returned elevated gold and tellurium results, with multiple consecutive samples showing elevated values. Lower oxygen-isotope values also suggest interaction between the limestone and hydrothermal fluids potentially associated with mineralization. Tellurium enrichment provides another useful vector, helping identify alteration that may not be readily visible.
Lithological and structural mapping documented bleached and locally marbleized Escabrosa limestone which contain regions of silica replacement, and fractures containing manganese oxides and limonite consistent with distal carbonate replacement mineralization. Altered intrusive dikes are also exposed at surface.
Together, these observations support the interpretation that the area experienced hydrothermal activity and provide a geological basis for drill testing.
Historical Drilling Supports the Target
Immediately following the exploration work that highlighted the Kate Target, Intrepid reviewed historical exploration records and identified encouraging copper-gold results from limited drilling, including hole MH-03. The geological setting and style of mineralization appear similar to those at the Ringo Zone.
Highlights from Hole MH_032:
- 27.43 meters ("m") of 0.65% copper ("Cu"), 0.98 grams per ton ("gpt") gold ("Au") and 17.20 gpt silver ("Ag") including,
- 7.62m of 1.71% Cu, 3.30 gpt Au and 44.55 gpt Ag and
- 1.52m of 3.2% Cu, 4.8 gpt Au and 73.00 gpt Ag
Table 1: Drill Intercepts from MH_03 at Kate Target2
| DRILL | DH_From | DH_To | LENGTH | COPPER | GOLD | SILVER | ZINC |
| HOLE ID | (m) | (m) | (m) | (%) | (gpt) | (gpt) | (%) |
| MH_03 | 429.77 | 457.20 | 27.43 | 0.65 | 0.98 | 17.20 | 0.10 |
| Inc. | 429.77 | 437.39 | 7.62 | 1.71 | 3.30 | 44.55 | 0.20 |
| and | 429.77 | 431.29 | 1.52 | 0.62 | 5.72 | 31.00 | 0.04 |
| and | 434.34 | 435.86 | 1.52 | 3.20 | 4.80 | 73.00 | 0.35 |
| Inc. | 448.06 | 457.20 | 9.14 | 0.53 | 0.15 | 11.67 | 0.07 |
| and | 451.87 | 453.24 | 1.37 | 1.42 | 0.27 | 26.00 | 0.19 |
Table 2: Drill Hole Location for Historical Drilling at Kate Target
| DRILL | EASTING | NORTHING | ELEVATION | DEPTH | INCLINATION | Azimuth | COMPANY |
| HOLE ID | (m) | (m) | (m) | (m) | (°) | (°) | NAME |
| MH_03 | 613006 | 3512283.3 | 1489 | 457.2 | -90 | 0 | Santa Fe Pacific |
Historical work linked mineralization to faulted carbonate rocks of the Martin and Abrigo formations. These faults may have provided pathways for mineralizing fluids, making them an important consideration in planning new drill holes.
The historical results support the target identified through Intrepid's surface work, but the extent and continuity of mineralization remain untested. Planned drilling will be carried out to verify the historical results and test for additional copper-gold mineralization.
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, P.Geo. Mr. MacNeil is a Technical Advisor 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 QA/QC 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. However, some of the data disclosed is related to historical drilling results which have been identified as such. Intrepid Metals and Mr. MacNeil have not undertaken any independent investigation of the sampling nor have they independently analyzed the results of the historical exploration work in order to verify the results. Intrepid and Mr. MacNeil considers these historical drill results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
Additional information on the Corral Copper Project can be found in the technical report entitled "NI 43-101 Technical Report Corral Copper Exploration Project" dated August 5, 2026 and filed on SEDAR+ at www.sedarplus.ca.
About Intrepid Metals Corp.
Intrepid Metals Corp. is focused on exploring for high-grade essential metals, including copper, silver, and zinc, in established mining jurisdictions in southeastern Arizona, USA. 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 Limited became an equity stakeholder in Intrepid at the end of 2025. Intrepid is led by an experienced technical and management team with a strong track 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". For more information, visit www.intrepidmetals.com.
INTREPID METALS CORP.
On behalf of the Company
"Matthew Lennox-King"
Chairman & Interim-CEO
For further information regarding this news release, please contact:
Matthew Lennox-King, Chairman & Interim CEO
Evelyn Cox, VP Corporate Development
604-506-0552
invest@intrepidmetals.com
Notes
1 Data disclosed in this news release includes historical drilling results and information derived from historic drill results, Intrepid Metals 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 data relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
2 Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper, gold, silver and zinc assay values according to a 0.10% CuEq (see below) cutoff and include a maximum of 15 meters of internal dilution. The intercept reported in historical drill hole ML_03 from 429.77 to 457.20 includes 13.11 meters of internal dilution. All intervals reported are down hole core lengths, and true thicknesses have yet to be determined. Mineral resource modeling is required before true thicknesses can be estimated.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to: the exploration potential of the Kate Target and the Corral Copper Project, including the potential for additional carbonate replacement-style copper-gold mineralization; the timing, scope and objectives of planned drilling at the Kate Target, including plans to commence drilling in the coming weeks; the ability of planned drilling to verify historical results and identify additional mineralization; geological interpretations based on mapping, sampling, isotope analysis and historical exploration records; and the identification and advancement of additional exploration targets at Corral.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current global financial conditions and the impact of any future global pandemic on the Company's business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
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