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Intrepid Metals Corp. reports mineral exploration, land consolidation and financing developments tied to copper-focused projects in Arizona. Company updates center on the Corral Copper Property in Cochise County, where exploration programs target porphyry copper-gold and copper-gold-silver carbonate replacement deposit mineralization through mapping, geochemical work, geophysics and drilling preparation.
Recurring news also covers the Tombstone South Property, option agreements, patented and unpatented mining claims, surface rights, and completed acquisitions that expand the Corral Copper land package. Capital updates include warrant exercises and private financings used to support exploration activity, while governance items include board and executive leadership changes.
Intrepid Metals (OTCQB: IMTCF; TSXV: INTR) amended its Tombstone South option to extend the US$1,500,000 work commitment due May 2026 to May 2027. The amendment included issuance of 200,000 shares and an additional US$50,000 payment to the vendor, now completed, and is subject to TSXV approval.
The company plans a ~4,000 m Phase 1 drill program from four-to-five pads and notes it has raised over C$19.1 million since December 2025.
Intrepid Metals (OTCQB: IMTCF) has started a Phase 1 2026 exploration program at its Corral Copper Property in Cochise County, Arizona, featuring geochemical sampling and detailed geological mapping to refine drill targets for a planned deeper and shallower drill program later in 2026.
The company reports >98% warrant exercise participation, raising approximately C$8.58M from recent warrant exercises and over C$19.1M gross proceeds since December 2025, and engaged Capital Analytica for marketing services under a six-month CAD $150,000 agreement plus 175,000 stock options (subject to TSXV approval).
Intrepid Metals (OTCQB: IMTCF) announced Phase 1 of a 2026 exploration program at the Corral Copper property in Cochise County, Arizona. Work begins next week and includes geological mapping, ~65 line-km of IP and MT geophysics, passive seismic, and a >450-sample rock campaign.
The Program aims to refine porphyry and CRD targets to support a substantial Phase 2 diamond drilling program planned for Q3/Q4 2026, targeting porphyry-style mineralization roughly 300–1,000 metres below surface.
Intrepid Metals (OTCQB: IMTCF) reported that holders exercised 9,499,999 warrants from its Jan 8, 2024 financing at C$0.45, generating ~C$4.27 million, and that 4,631,791 other warrants exercised in 2026 added ~C$2.14 million, for over C$6 million year-to-date.
The company said gross proceeds since Dec 2025 exceed C$16.7 million. An additional 5,135,645 warrants remain outstanding, expiring April 24, 2026, representing potential proceeds of ~C$2.31 million. Proceeds will support exploration at the Corral Copper Project in Arizona.
Intrepid Metals (OTCQB: IMTCF) announced a leadership transition on March 30, 2026: Founder and CEO Mark J. Morabito will step down and be succeeded by Matt Lennox-King as Interim CEO and Chairman, with Dan Barnholden joining the Board.
The company noted strategic validation after back-to-back investments by Teck Resources, which now holds approximately 14.7% ownership following a December 2025 stake and participation in a February 2026 non-brokered financing. Intrepid also granted 1,000,000 incentive stock options at $0.49, vesting quarterly over 12 months and exercisable for five years.
Intrepid Metals (OTCQB: IMTCF) completed its option exercise to acquire Cave Creek Copper Inc., making Cave Creek a wholly owned subsidiary effective March 5, 2026. The acquisition transfers patented and unpatented mining claims and surface rights forming most of the Corral Copper Project.
The Company now owns all lands and mining claims comprising the Corral Copper Project except the MAN Property. A final cash and share payment to complete the MAN Property acquisition is required during the current calendar year. FMI Capital Advisory acted as financial advisor to Cave Creek.
Intrepid Metals (OTCQB: IMTCF) announced a non-brokered private placement to raise up to C$6.5 million at C$0.60 per share, with Teck subscribing for 6,842,881 shares (~C$4.1M). Proceeds will fund a 30-month committed exploration and development program at the Corral Copper Project.
The deal would increase Teck's maximum ownership to 19.9% (subject to closing and exchange approval) and extend committed timelines by six months; issued shares will carry a standard four-month-and-one-day Canadian hold period.
Intrepid Metals (OTCQB: IMTCF) closed acquisition of the patented Viewsite Claims in Cochise County, Arizona, adding 348 acres and increasing its Corral land position to ~10,346 acres (4,187 ha). The claims are contiguous with the Ringo Zone and show porphyry, CRD, and skarn prospectivity supported by geological, geophysical, and historical drilling data, including high-grade intercepts. The company paid US$475,000 in cash under the July 31, 2025 purchase agreement. Intrepid also announced that President & COO Ken Brophy will step down from his operational role and move to the Advisory Board.
Intrepid Metals (OTCQB: IMTCF) announced TSX Venture Exchange approval to extend the expiry of 19,046,764 share purchase warrants by 90 days. All Warrants remain exercisable at $0.45 per share.
The Company extended expiry dates to April 5, 2026 for 9,499,999 Warrants issued Jan 5, 2024, and to April 24, 2026 for 9,546,765 Warrants issued Jan 24, 2025. Prior to the extension, 365,000 Warrants had been exercised.
9,146,567 Warrants are held by related parties, so the amendment is a related party transaction under MI 61-101 and TSX-V Policy 5.9; the company says it relied on exemptions because fair value of the Warrants does not exceed 25% of market capitalization. The Company did not file a material change report more than 21 days before the expected closing due to expedited decision timing.
Intrepid Metals (OTCQB: IMTCF) closed a non-brokered private placement with Teck Resources acquiring 8,800,000 common shares at C$0.45 per share for gross proceeds of $3,960,000, representing a 9.9% strategic equity interest on an outstanding basis.
Proceeds will fund a 24-month Committed Program at Corral including a 50 line-km IP survey, mapping, geochemical sampling, metallurgical and permitting work, and follow-up drilling, with additional work planned in H2 2026.
Intrepid and Teck signed an Investor Rights Agreement giving Teck participation rights for up to three years (ability to increase to 15% ownership), two nominees on a four-person technical committee (Teck holds tie-breaking vote), information rights, and a 30-month right of first refusal on transfers of the Company’s Corral interest. Issued shares are subject to a 4-month+1-day statutory hold.