Intrepid Metals Corp. has finalized the acquisition of Cave Creek Copper Inc., securing ownership of key mining claims and surface rights for the Corral Copper Project in Arizona. The company is now focused on advancing the project, leveraging historical data and modern exploration techniques to progress towards development studies.
Thursday, March 5, 2026 4:00 AM PSThas completed the exercise of the option to acquire Cave Creek Copper Inc. . Cave Creek is now a wholly owned subsidiary of the Company. Cave Creek, through certain US subsidiaries, holds key patented mining claims, unpatented mining claims and surface rights forming part of the Corral Copper Project as set out in Figure 1 below.
The Company entered into a Share Purchase Option Agreement dated February 14, 2023, as amended with Cave Creek and the shareholders of Cave Creek. The Option Agreement provided for a series of share and cash payment to the shareholders of Cave Creek over a three-year period. The Company has now completed the final share and cash payment and has closed the acquisition of Cave Creek. With the completion of the acquisition of Cave Creek, the Company owns all of the lands and mining claims encompassing the Corral Copper Project, except for the MAN Property. There is a final cash and share payment required to complete the acquisition of the MAN Property which will occur during the current calendar year.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 copper. 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 these data. The Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group, the MAN Property and the Viewsite Claims. The Company has completed the acquisition of the Excelsior Property, Sara Claim Group and Viewsite Claims through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the"Commitments" section of the Company's most recently filed Management Discussion and Analysis for further details.https://images.newsfilecorp.com/files/6187/286283_7d4b095c14807bc2_001full.jpg 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.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 Project, an advanced exploration-stage, district-scale system with extensive drilling and significant shallow results, complemented by the Tombstone South and Mesa Well projects. Teck Resources Limited recently became a 14.7% equity stakeholder in Intrepid, reflecting its strategic interest in the Company and its Corral Project. 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, visitFMI is a boutique investment bank headquartered in Toronto, Canada, that provides advisory and capital raising services to stakeholders in a range of industries. FMI also includes a team of professionals located in New York, Miami and London, U.K. providing its clients with access to a global network of capital markets services, with a particular expertise in the mining sector.Information disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website and on the City of Bisbee website has reviewed or accepts responsibility for the adequacy or accuracy of this release.Venezuela mining reform coming soon, acting president says The mining law is expected to include provisions that would allow foreign companies to exploit gold, diamonds and rare earths.PDAC: Ontario shifts metals strategy to defence as EVs stall, mining minister says The previous strategy focused on the electric vehicle market and emphasized the need for clean technologies, but the world has changed.China's refiners could reap windfall profits in the event of a prolonged disruption to crude supplies from the Middle East.Defense Metals conditionally approved for Canadian infrastructure funding The funding would allow Defense Metals to advance the development of a new 60-km transmission line to its rare earth mine site.Gold price rebounds as investors buy the dip on safe-haven metal
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