Intrepid Metals Advances Porphyry Targeting at Corral Ahead of Integrated Geophysical Survey and Planned Q3 Drill Program

About this update from Intrepid Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - July 9, 2026) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ( "Intrepid" or the "Company" ) is pleased to provide an update on the advancement of its integrated exploration program focused on defining high-priority porphyry copper-gold targets at its Corral Copper Project (" Corral " or the " Project ") in Cochise County, Arizona. Building on the Company's successful identification of extensive carbonate replacement (" CRD ") mineralization, Intrepid has continued to refine its understanding of the broader mineralizing system through an integrated exploration program undertaken with input from Teck Resources Limited (" Teck "). The next phase of work includes an approximately 65 line-kilometre induced polarization (" IP ") survey, scheduled to commence in early August, ahead of the Company's planned September drill program, where approximately 5,000 metres (" m ") of the planned 10,000m campaign are expected to be dedicated to testing priority porphyry targets. "Our understanding of Corral continues to evolve with every phase of exploration," said Matt Lennox-King, Chairman and Interim CEO of Intrepid Metals. "While our previous drilling successfully demonstrated the scale and continuity of the CRD system, our 2026 work, undertaken in collaboration with Teck, has been focused on identifying the potential porphyry source that we believe drives that mineralization. While CRD mineralization can be economically significant on its own, a related porphyry system has the potential to represent a much larger mineralized system. By integrating the results of our geological, geochemical and geophysical programs, we are building the most comprehensive geological model assembled on the Project to date. This work will directly guide our first dedicated porphyry drill tests later this year." Building the Porphyry Model Initial drilling at Corral successfully demonstrated the presence of extensive CRD copper-gold-silver mineralization across multiple zones. CRD deposits commonly form when metal-rich fluids originating from a nearby porphyry intrusion migrate into favourable limestone host rocks, where they precipitate high-grade mineralization. The Company's exploration model is based on geological similarities between Corral and Arizona's historic Bisbee Mining District, where extensive CRD mineralization is spatially associated with a significant porphyry copper system. Intrepid's 2026 exploration program has been designed to systematically evaluate whether a similar relationship exists at Corral through an integrated program of geological mapping, surface geochemistry, structural interpretation, drill core relogging and geophysical surveys.

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