Intrepid Metals selects Major Drilling for 10,000 m program at Corral Copper in Arizona

Vancouver, British Columbia--(Newsfile Corp. - August 19, 2026) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company" ) is pleased to announce that it has selected Major Drilling Group International Inc. (" Major Drilling ") as the drilling contractor for the Company's planned 10,000-metre (" m ") drill program at its district-scale Corral Copper Project (" Corral " or the " Project ") in Cochise County, Arizona. Equity Exploration Consultants Ltd. (" Equity Exploration ") has also been engaged to provide geological and operational support for the program, which is scheduled to commence in early September 2026.

The planned program is expected to include approximately 20 drill holes, with approximately 5,000m dedicated to expanding and further evaluating the near-surface Carbonate Replacement Deposit (" CRD ") style copper-gold-silver mineralization previously identified across the Project. The remaining approximately 5,000 metres will represent the first drilling at Corral specifically designed to test high-priority porphyry copper-gold targets and evaluate the potential source of the extensive CRD mineralization identified through previous exploration. Major Drilling recently completed a site visit at Corral as part of final preparations for mobilization and the commencement of drilling.

Previous CRD focused drilling by Intrepid in 2024 and 2025 returned long near surface intervals of high-grade copper (" Cu ") and gold (" Au ") mineralization.

Highlights from Intrepid drilling include :

112.95 meters ("m") of 1.50% Cu, 0.53 grams per ton ("gpt") Au & 8.22 gpt Silver ("Ag") from 68.40 to 181.35m in Hole CC24_023 including, 63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag and

1.40m of 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag.

193.15m of 0.68% Cu and 0.33 gpt Au from 27.00 to 220.15m in Hole CC24_011 including**, 105.20m of 1.17% Cu and 0.55 gpt Au and

48.85m of 2.24% Cu and 0.97 gpt Au and

3.90m of 6.80% Cu and 1.02 gpt Au.

216.50m of 0.71% Cu, 0.28 gpt Au & 5.14 gpt Ag from 29.00 to 245.50m in Hole CC25_029 including***, 49.10m of 1.84% Cu, 0.78 gpt Au and 11.41 gpt Ag.

198.00m of 0.56% Cu, 0.12 gpt Au and 4.35 gpt Ag from 10.00 to 208.00m in Hole CC24_016**** including, 72.20m of 1.28% Cu, 0.08 gpt Au and 3.16 gpt Ag and

1.60m of 5.30% Cu, 1.95 gpt Au and 11.20 gpt Ag.

142.30m of 0.51% Cu, 0.17 gpt Au and 4.01 gpt Ag from 56.70 to 199.00m in CC25_26 including*****, 84.90m of 0.79% Cu, 0.26 gpt Au and 6.18 gpt Ag and

17.65m of 2.72% Cu, 0.58 gpt Au and 18.16 gpt Ag and

0.55m of 27.50% Cu, 10.15 gpt Au and 192 gpt Ag.

Major Drilling is the world's leading provider of specialized drilling services to the metals and mining industry, with operations spanning six continents, more than 6,000 employees and a fleet of more than 700 drill rigs. Established in 1980, Major Drilling has extensive experience executing technically demanding exploration programs and is recognized globally for its operational expertise, safety performance and ability to successfully complete challenging drilling projects.

Equity Exploration is a Vancouver-based geological consulting and project management firm specializing in advanced mineral exploration. Founded in 1987, the company provides technical, geological and logistical services across all stages of mineral exploration and has contributed to more than 300 exploration projects involving over 1.4 million metres of drilling in North America and internationally. Equity Exploration will work alongside Intrepid's technical team throughout the Corral drill program, providing drill supervision, core logging, geological data collection and management, and logistical and operational support.

"Finalizing our drilling and technical support teams represents another important step toward launching our most ambitious exploration program at Corral to date," said Matt Lennox-King, Chairman and Interim Chief Executive Officer of Intrepid. "Major Drilling and Equity Exploration bring extensive drilling, geological and project execution experience to the program. With the site visit now complete and final preparations underway, we remain on schedule to commence drilling in early September. With approximately half of the program focused on expanding the extensive CRD mineralization already identified and half dedicated to our first direct tests of high-priority porphyry targets, this program is designed to advance both components of the significant exploration opportunity at Corral."

Planned Drill Program

Drilling is expected to begin in early September with approximately 13 holes targeting extensions of the known CRD mineralization. These initial holes will focus on expanding known mineralized zones at Ringo, Clanton, Earp, and Holliday.

Beginning with the CRD portion of the program will allow the Company additional time to complete and interpret its scheduled IP-MT ground geophysical survey and incorporate the results with 3D geological mapping, surface geochemistry, structural interpretation, drill core relogging and other recent fieldwork. The integrated datasets will be used to further refine the Project's geological model and finalize the location and orientation of the planned porphyry drill holes.

Porphyry drilling is currently expected to begin in mid- to late October and will include approximately 7 holes testing high-priority targets across the Project. These holes will represent the first drilling at Corral specifically designed to evaluate the potential source of the extensive CRD copper-gold-silver mineralization identified through previous exploration.

The sequencing of the program may be adjusted as drilling progresses and additional geological, geochemical and geophysical results become available.

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.

* Please refer to the Intrepid News Release dated July 9, 2024 and entitled "Intrepid Metals Drills 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq) at its Corral Copper Property in Arizona" for more details on these results, including details on data verification and exploration information.

** Please refer to the Intrepid News Release dated May 1, 2024 and entitled "Intrepid Metals Intersects 105.20 meters of 1.17% Copper (1.42% CuEq) and 48.85 meters of 2.24% Copper (2.58% CuEq) Near Surface in Its Initial Drill Program at its Corral Copper Property in Arizona" for more details on these results, including details on data verification and exploration information.

*** Please refer to the Intrepid News Release dated July 10, 2025 and entitled "Intrepid Metals Intersects 216.50m of 0.71% Cu and 0.28 gpt Au Starting 29m from Surface at Corral Copper in Arizona" for more details on these results, including details on data verification and exploration information.

**** Please refer to the Intrepid News Release dated May 14, 2024 and entitled "Intrepid Metals Intersects Shallow Mineralization of 72.20 Meters of 1.28% Copper Within 198.00 Meters of 0.68% CuEq During Its Initial Drill Program at Its Corral Copper Property in Arizona" for more details on these results, including details on data verification and exploration information.

***** Please refer to the Intrepid News Release dated May 27, 2024 and entitled "Intrepid Metals Intercepts 27.50% Copper, 10.15 gpt Gold, and 192 gpt Silver Over 0.55m in First Drill Hole of 2025 at Corral Copper" for more details on these results, including details on data verification and exploration information.

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

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 potential of the Project; the timeline, goals and expectations regarding planned exploration and drilling programs at the Company's mineral projects; the interpretation of exploration results; the potential for a porphyry copper-gold system; the mineral potential of the Corral district; and the exploration potential of the Corral Copper Property and the Company's other mineral projects.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310349

TMX Newsfile

August 19, 2026 - 4:00 AM PDT

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