Intrepid Minerals Corporation
TSX : IAU

Intrepid Minerals Corporation

February 06, 2006 09:02 ET

Intrepid Minerals Executes Merger Agreement With NuStar Mining

TORONTO, ONTARIO--(CCNMatthews - Feb. 6, 2006) - Intrepid Minerals Corporation (TSX:IAU) reports that Australian gold miner NuStar Mining Corporation Limited and Intrepid Minerals Corporation have formalised their commitment to merge through the execution of a definitive Arrangement Agreement (press release #05-18).

The merger, which remains conditional on shareholder and regulatory approvals, is to be implemented via a Plan of Arrangement. The transaction is scheduled for completion by March 31, 2006. NuStar will subsequently apply for dual listing on the Toronto Stock Exchange and change its name to Intrepid Mines Limited. The combined company will be a dual-listed intermediate producer with an international portfolio of precious metals assets including high grade resources of one million gold equivalent ounces.

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 49,969,552 shares outstanding.

For further information visit our website at http://www.intrepidminerals.com.

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
    or
    Intrepid Minerals Corporation
    Laurence Curtis, PGeo.
    President & CEO and designated Qualified Person:
    (416) 368-4525 or Toll Free: (866) 409-4716
    info@intrepidminerals.com
    www.intrepidminerals.com