Intrepid Minerals Corporation
TSX : IAU

Intrepid Minerals Corporation

November 09, 2005 16:46 ET

Intrepid Minerals Closes Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 9, 2005) - Intrepid Minerals Corporation (TSX:IAU) is pleased to announce that it has closed the offering as previously announced on October 3, 2005 (see Press Release #05-13 for details). Intrepid issued a total of 3,334,332 units priced at CDN $0.60 per unit for gross proceeds of CDN $2,000,600.

Intrepid will use these funds to continue drilling programs at its Casposo project in Argentina and to advance this project towards feasibility as well as for continued exploration in El Salvador. Up to 30% of the proceeds will be used for general working capital.

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 49,344,552 shares outstanding upon closing of this transaction.

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
    Stephen Coates and Cathie Simon
    (416) 368-4525 or Toll Free: (866) 409-4716
    (416) 368-3859 (FAX)
    or
    Intrepid Minerals Corporation
    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