Vancouver, British Columbia — March 5, 2026 — Leads & Copy —
Intrepid Metals Corp. has finalized the acquisition of Cave Creek Copper Inc., making it a wholly owned subsidiary. The acquisition gives Intrepid Metals Corp. complete ownership of the lands and mining claims associated with the Corral Copper Project, excluding the MAN Property. A final payment is due to acquire the MAN Property later this year.
The company (TSXV: INTR) (OTCQB: IMTCF) announced that it has completed the exercise of the option to acquire Cave Creek Copper Inc. (“Cave Creek”). Cave Creek is now a wholly owned subsidiary of the Company. Cave Creek, through certain US subsidiaries, holds key patented mining claims, unpatented mining claims and surface rights forming part of the Corral Copper Project as set out in Figure 1 below.
According to the company, it entered into a Share Purchase Option Agreement dated February 14, 2023, as amended (the “Option Agreement”) with Cave Creek and the shareholders of Cave Creek. The Option Agreement provided for a series of share and cash payment to the shareholders of Cave Creek over a three-year period. The Company has now completed the final share and cash payment and has closed the acquisition of Cave Creek. With the completion of the acquisition of Cave Creek, the Company owns all of the lands and mining claims encompassing the Corral Copper Project, except for the MAN Property. There is a final cash and share payment required to complete the acquisition of the MAN Property which will occur during the current calendar year.
The Corral Copper Property is located near historical mining areas in Cochise County, Arizona. It sits 15 miles east of Tombstone and 22 miles north of Bisbee, a mining camp that has produced more than 8 billion pounds of copper.
Mining in the district dates back to the late 1800s. From 1950 to 2008, various companies explored the district. Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these data.
The Corral Copper Property includes the Excelsior Property, the CCCI Properties, the Sara Claim Group, the MAN Property and the Viewsite Claims. Intrepid has acquired the Excelsior Property, Sara Claim Group and Viewsite Claims through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement.
FMI Capital Advisory Inc. advised Cave Creek on the transaction.
Intrepid Metals Corp. explores for metals such as copper, silver, and zinc in Arizona. Its portfolio includes the Corral Copper Project, Tombstone South, and Mesa Well projects. Teck Resources Limited holds a 14.7% equity stake in Intrepid.
Source: Intrepid Metals Corp.
