Addition positive drill results at Casposo

Intrepid Mines Ltd, an international gold and silver production, development....

  Intrepid Mines Ltd, an international gold and silver production, development and exploration company, has announced results of a post-feasibility core drilling program at its 100% owned Casposo project in San Juan Province, Argentina.

Highlights include:
- 4.15m at 14.19 g/t gold equivalent from 120.6m;
- 3.0m at 16.19 g/t gold equivalent from 109.8m;
- 7.0m at 13.41 g/t gold equivalent from 59.8m;
- 5.15m at 8.56 g/t gold equivalent from 74.65m;
- 4.3m at 7.51 g/t gold equivalent from 116.2m;
- 6.0m at 7.46 g/t gold equivalent from 110.75m; and
- 4.0m at 7.10 g/t gold equivalent from 18.0m.
According to the company, the accompanying cross section shows the ore body pierce points and clearly indicates these results will expand the pit boundaries and postpone the transition to the underground phase.A new resource and reserve estimate will be undertaken to include all relevant information from the Kamila area obtained since the previous estimate was completed with the results to be used in engineering and financial planning in advance of planned mine development start-up in 2008.This is the first drill program since completion of the Casposo Feasibility Study in March 2007. The near term goal for exploration at Casposo is to increase the life of mine proposed in the Feasibility Study by testing pit extension and underground vein targets.Drilling completed in late 2006 on the Inca Vein returned very encouraging results, suggesting that more mineralized material was available within the current mine design or with some changes to the pit outline and underground areas.These 2006 results and others were not included in the current resource and reserve estimate due to time considerations for the estimation. Intrepid initiated new drilling in 2007 to improve drill density in the new extension of the Inca vein with a view to generating new measurable mineral resources and allowing optimization of the deposit prior to construction of the mine. The drilling program also included additional testing at the Kamila Southeast Extension (SEXT) area of the property, a near mine underground resource target.A total of 3,315m of core drilling was completed in the program that concluded in May. Approximately 600 metres (in nine holes) were used specifically to support mine geotechnical design. Highlights of drilling results are listed in the attached table.Of particular note are very strong values in intercepts obtained from drill hole CA-07-200, which intersected 7.00m at 9.02g/t gold and 338g/t silver at shallow depth along the proposed pit wall. This additional near surface information will help determine pit design in the initial year of mining. Drill holes CA-07-205 intersected 4.3m of 4.18g/t gold and 256g/t silver from 116.20m to 120.50m and CA-07-216 intersected 3m of 8.6g/t gold and 579g/t silver from 109.80m to 112.80m. Both intercepts test down dip extension of a new section of the Inca vein defined by drill holes CA-06-183, 184, 197 in September of 2006. These results once incorporated into the resource and mine models will lead to consideration of a larger pit design of the Kamila pit and of additional underground mining potential. The new information will also assist in determining the pit floor for the final mine plan.