Intrepid Responds to Media Reports

Marketwired

BRISBANE, AUSTRALIA--(Marketwire - Oct. 26, 2012) -

Intrepid Mines Limited (IAU.AX)(IAU.TO) ("the Company") notes that articles have appeared in the Australian Financial Review and The Mining News today which refer to a lawsuit being filed against Emperor Mines Ltd, Intrepid Mines Ltd and Intrepid employees Brad Gordon and Vanessa Chidrawi in the South Jakarta District Court on Thursday 25 October.

The Company advises that neither it nor any of its employees has been served with notice of a claim or court proceedings.

The Company will provide a further update should additional material information become available.

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.

Directors

Ian McMaster (Chairman)

Colin G. Jackson (Deputy Chairman)

Brad A. Gordon (Managing Director)

Laurence W. Curtis (Non-executive Director)

Robert J. McDonald (Non-executive Director)

Alan Roberts (Non-executive Director)

Adrianto Machribie (Non-executive Director)

Nyla Bacon (Company Secretary)

Stock Exchange Listing

ASX and TSX symbol: IAU

Substantial Shareholders

Taurus Funds Management 8.5%

Acorn Capital 8.2%

Van Eck Associates 7.8%

Surya Paloh 5.0%

Issued Capital

553,802,270 shares

9,015,095 unlisted options

6,181,693 unlisted share rights

51,208,032 unlisted restricted performance rights

Shareholder Enquiries

Matters related to shares held, change of address and tax file numbers should be directed to:

Computershare Investor Services

GPO Box 2975, Melbourne, Victoria 3001, Australia

Telephone: 1300 805 505

+61 3 9415 4000

Contact:
Intrepid Mines Limited
Brad Gordon
Managing Director / Chief Executive Officer
Brisbane, Australia
(office) +61 7 3007 8000 / (mobile) +61 400 036 636
bgordon@intrepidmines.com

Intrepid Mines Limited
Greg Taylor
Investor Relations
Toronto, Canada
(office) +1 905 337 7673 / (mobile) +1 416 605 5120
gtaylor@intrepidmines.com

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