Intrepid Mines Limited
TSX : IAU
ASX : IAU
TSX : IXN

Intrepid Mines Limited

November 03, 2006 15:00 ET

Intrepid Holds 2006 Annual General Meeting in Perth

Intrepid Re-Files 2005 MD&A

TORONTO, ONTARIO--(CCNMatthews - Nov. 3, 2006) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU), an international gold and silver production, development and exploration company, announced today that the 2006 Annual General Meeting of Shareholders will be held on Thursday, November 30, 2006 at the Hay Street Room, Rydges Hotel Perth, Western Australia commencing at 11:00 a.m. (Perth time).

Re-filing of 2005 MD&A for Intrepid Minerals Corporation

At the request of the Ontario Securities Commission, Intrepid Mines Limited has re-filed the MD&A and certificates of the CEO and CFO, on behalf of its wholly-owned subsidiary, Intrepid Minerals Corporation ("IMC"), for the year ended December 31, 2005.

The re-filing of the MD&A was necessary due to the inadvertent omission of a conclusion statement regarding the effectiveness of IMC's disclosure controls and procedures. For the period covered by this MD&A, an evaluation of IMC's disclosure controls and procedures was performed by the Chief Executive Officer and the Chief Financial Officer, as required by Multilateral Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings. Based on this evaluation and notwithstanding the oversight of the omitted statement, senior management concluded that IMC's disclosure controls and procedures were effective. No other changes were made to the MD&A. A copy of the re-filed MD&A can be accessed at www.sedar.com.

On behalf of the Board of Directors of Intrepid Mines,

Laurence Curtis, President & CEO

About Intrepid Mines:

Intrepid Mines Limited has an international production, development and exploration profile, and holds interests in several gold-silver and silver-base metal properties in Australia, Argentina, El Salvador, and Canada, either directly or through joint venture partnership. The issued capital is 150,032,576 shares comprised of 119,086,756 ordinary shares of Intrepid Mines Limited quoted on the TSX:IAU and ASX:IAU and 30,987,487 Exchangeable Shares of Intrepid NuStar Exchange Corporation quoted on the TSX:IXN.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This release contains certain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX & ASX has neither approved nor disapproved the information contained in this press release. Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

CUSIP: Q4968A

ABN: 11 060 156 452

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