Intrepid Metals : Interim Financial Statements and MD&A – March 31, 2026

About this update from Intrepid Metals Corp.

INTREPID METALS CORP. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS MARCH 31, 2026 (Expressed in Canadian Dollars) (Unaudited) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements. The accompanying unaudited condensed interim condensed consolidated interim financial statements of Intrepid Metals Corp. (the "Company") have been prepared by and are the responsibility of the Company's management. The Company's independent auditor has not performed a review of these condensed interim condensed consolidated interim financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor. AS AT MARCH 31, AS AT DECEMBER 31, 2026 2025 ASSETS Current assets Cash and cash equivalent $ 18,827,497 $ 8,310,732 Restricted cash (note 4) 114,435 - GST receivable 28,986 46,803 Prepaid expenses (notes 5 and 10) 91,877 221,198 Investment (note 6) 1 1 19,062,796 8,578,734 Deposit (note 7) - 138,015 Exploration and evaluation assets (note 7) 7,998,107 6,238,162 $ 27,060,903 $ 14,954,911 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities (notes 8 and 10) $ 233,406 $ 553,784 Income taxes payable (note 4) 75,000 - Due to former CCCI shareholders (note 4) 114,435 - Promissory notes payable (note 9) 50,000 50,000 472,841 603,784 Equity Share capital (note 11) 55,090,839 41,316,450 Equity reserves 5,084,246 4,822,738 Accumulated other comprehensive income 967 825 Deficit (33,587,990) (31,788,886) 26,588,062 14,351,127 $ 27,060,903 $ 14,954,911 Nature of operations and going concern (note 1) Subsequent events (note 16) Approved on May 29, 2026 on behalf of the Board of Directors: "Mark Lotz" Director "Richard Lock" Director Mark Lotz Richard Lock EXPENSES Exploration and evaluation (note 7) $ 168,233 $ 210,127 General and administration (notes 12) 1,363,866 368,887 Marketing and investor relations 110,599 194,672 Share-based payments (notes 10 and 11) 261,508 152,130 (1,904,206) (925,816) OTHER ITEMS Interest income 67,213 10,799 Foreign exchange gain...

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