Intrepid Minerals Corporation
TSX : IAU

Intrepid Minerals Corporation

January 25, 2006 11:02 ET

Intrepid Minerals Announces An Increase In The Private Placement To A Maximum Of CDN $5,500,000

TORONTO, ONTARIO--(CCNMatthews - Jan. 25, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES

Intrepid Minerals Corporation (TSX:IAU) is pleased to announce that its private placement of units announced on January 17, 2006 (Press Release #06-2) has been increased to a maximum of CDN $5,500,000 (including the over-allotment option). All other terms of the financing have not changed.

Paradigm Capital Inc. is the lead agent of a syndicate that includes Blackmont Capital Inc.

Closing of the financing, which is subject to regulatory approval, is anticipated to occur on or around February 9, 2006.

Intrepid Minerals is a TSX-listed company engaged in the acquisition, exploration and development of mineral prospects. The Company, either directly or through joint venture partnership, holds interests in several gold-silver and silver-base metal properties in Argentina, El Salvador, and Canada. Intrepid has 49,929,552 shares outstanding.

FORWARD LOOKING STATEMENTS

This Press 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 has neither approved nor disapproved the information contained in this press release.

Contact Information

  • Grove Communications Inc.
    Stephen Coates and Cathie Simon
    (416) 368-4525 or Toll Free: 866-409-4716
    (416) 368-3859 (FAX)
    or
    Grove Communications Inc.
    Laurence Curtis, PGeo.
    President & CEO and designated Qualified Person
    (416) 368-4525 or Toll Free: 866-409-4716
    (416) 368-3859 (FAX)
    info@intrepidminerals.com
    www.intrepidminerals.com