Intrepid Mines Limited

Intrepid Mines Limited

December 23, 2010 08:00 ET

Intrepid Mines Completes A$31.9 Million Share Purchase Plan

BRISBANE, AUSTRALIA--(Marketwire - Dec. 23, 2010) - Intrepid Mines Limited ("Intrepid" or the "Company") (TSX:IAU)(ASX:IAU) is pleased to announce that it has completed the allocation of shares pursuant to the share purchase plan ("SPP") offered to existing shareholders with registered addresses in Australia and New Zealand.

The subscription offer under the SPP closed on 17 December 2010 and the Company has now allocated 17,921,420 ordinary shares at a price of A$1.78 per share, representing gross proceeds to the Company of A$31,900,127. The shares issued pursuant to the SPP will rank equally with existing ordinary shares of the Company.

"We are delighted with the strong support shown by our retail shareholders in relation to the SPP. This support, coupled with the recent success of the institutional offering completed by the Company, allows us to finish a record year on a further high note, with confirmed market support, substantial cash holdings and a near-record share price", said Intrepid CEO, Brad Gordon.

ABN: 11 060 156 452

Contact Information