Intrepid Mines Limited

Intrepid Mines Limited

September 13, 2013 08:00 ET

Intrepid Mines Limited: Executive Chairman Temporary Remuneration Package

BRISBANE, AUSTRALIA--(Marketwired - Sept. 13, 2013) - Intrepid Mines Limited ("Intrepid", the "Company") (TSX:IAU)(ASX:IAU) advised on 8 August 2013 that the Chairman Mr Ian McMaster AM would assume the role of Executive Chairman for the period until a new CEO is appointed.

The key terms of Mr McMaster's appointment have now been finalised and are as follows:

Term: Initially 3 months from 1 September 2013 and then subject to monthly review (if required).
Salary: $30,000 per month plus superannuation at 9.25%.
Short Term Incentives: The Board at its discretion may award a short term incentive bonus on completing or demonstrably advancing recovery of value in Indonesia.

The search for a new CEO has progressed with a short list of candidates subject to final interview.

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