Vancouver, British Columbia - Newsfile Corp. - December 23, 2025 - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce that pursuant to its announcement on December 18, 2025, Teck Resources Limited ("Teck") has acquired, on a non-brokered private placement basis, 8,800,000 common shares in the capital of the Company (the "Common Shares") at a price of $0.45 per Common Share (the "Issue Price") for gross proceeds to the Company of $3,960,000 (the "Offering"), representing a 9.9% strategic equity interest in the Company on an outstanding basis. Proceeds from the Offering will be used to complete an initial 24-month exploration and development program at Corral (the "Committed Program"). The Committed Program is expected to include, among other work programs, a 50 line-kilometre induced polarization ("IP") survey, geological mapping and geochemical sampling, metallurgical and permitting work, and follow-up drilling designed to expand known zones and test new targets identified by Intrepid's integrated, multi-dataset targeting. Intrepid anticipates additional mapping, geophysics, geochemical sampling and drilling at Corral in H2 2026. The Company and Teck have concurrently entered into an investor rights agreement (the "Investor Rights Agreement"). Pursuant to the Investor Rights Agreement, and subject to customary conditions and ownership thresholds, Teck will have, among other rights: (i) participation rights in future equity financings to enable Teck to maintain its pro-rata interest in the Company for up to three years and, if exercised, to increase its ownership interest to up to 15% of the Company; (ii) the right to nominate two representatives to a four-person technical committee to provide technical oversight and collaboration with respect to the Corral Copper Project, with Teck holding a tie-breaking vote; (iii) certain information rights relating to the Corral Copper Project; and (iv) a right of first refusal, for a period of 30 months, on any proposed transfer of the Company's interest in the Corral Copper Project, subject to customary exclusions. The Common Shares issued under the Offering are subject to a statutory hold period under applicable securities laws in Canada expiring four months and one day from today. Haywood Securities Inc. is acting as financial advisor and Farris LLP is acting as legal counsel to the Company. The Company acknowledges the significant contributions of Mr. Ken Engquist, whose early engagement and relationship-building efforts with Teck were instrumental in advancing discussions. During his tenure as CEO, Mr. Engquist initiated and led the Company's engagements with Teck and helped cultivate the strategic and technical dialogue that laid the groundwork for Teck's 9.9% investment at this early stage of project development. Intrepid appreciates Mr. Engquist's ongoing support of the Corral Copper Project as a Technical Advisor. About Corral Copper The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper¹. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral. The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of this data. Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development studies. About Intrepid Metals Corp. Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale...