Intrepid Mines Limited

Intrepid Mines Limited

August 16, 2011 07:30 ET

Intrepid Mines: Executive General Manager Exploration and New Business Resigns

BRISBANE, AUSTRALIA--(Marketwire - Aug. 16, 2011) - Intrepid Mines Limited (ASX:IAU)(TSX:IAU) ("the Company") reports that Malcolm Norris, Executive General Manager, Exploration and New Business, will formally resign his position with the Company as at 30 September, 2011, for personal reasons. However, Mr. Norris will continue to provide ongoing technical support on a consulting basis to the Company.

"While we are disappointed to lose Malcolm's full-time services, he will continue to assist us in expanding and building Tujuh Bukit - perhaps the largest known, independently held, undeveloped copper-gold project in the world," said Brad Gordon, Managing Director and Chief Executive Officer. "Malcolm has made a huge contribution over the past five years at Intrepid (and Emperor prior to the 2008 merger) and we look forward to his ongoing insights and support. The search for a full-time replacement is well advanced".

Forward-looking statements

This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.

Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

ABN: 11 060 156 452

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