Intrepid Mines Limited: Change to Joint Venture Partner Shareholding

BRISBANE, AUSTRALIA -- (Marketwire) -- 06/28/12 -- Intrepid Mines Limited ("Intrepid" or the "Company") (TSX: IAU)(ASX: IAU) advises that new shareholders have joined the register of PT IMN, the Company's joint venture partner in the Tujuh Bukit project in Indonesia.

The new shareholders collectively hold 80% of the expanded issued capital in PT IMN, which holds the Tujuh Bukit mining licences.

Under the terms of the Alliance Agreement between the parties, Intrepid holds an 80% economic interest in the Tujuh Bukit project, with PT IMN holding the remaining 20%.

The Company is in the process of engaging the representatives of the new shareholders in discussion and will provide updates on negotiations, including details of the new shareholders, as appropriate.

Mr Ian McMaster, Intrepid's lead director, will immediately assume the role of Deputy Chairman, to facilitate negotiations.

Directors
Colin G. Jackson (Chairman)
Brad A. Gordon (Managing Director)
Ian McMaster (Deputy Chairman)
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 9.2%
Acorn Capital 7.9%
Van Eck Associates 6.6%

Issued Capital
525,885,308 shares
4,710,972 unlisted options
4,014,632 unlisted share 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

ABN 11 060 156 452

Contacts:

Intrepid Mines Limited

Colin Jackson

Chairman

Mobile: +61 417 929 107


Intrepid Mines Limited

Brad Gordon

Managing Director

Chief Executive Officer, Brisbane, Australia

Office: +61 7 3007 8000
www.intrepidmines.com