TORONTO, ONTARIO -- (MARKET WIRE) -- 09/25/2006 -- Intrepid Mines Limited (TSX: IAU)(ASX: IAU)(TSX: IXN), an international gold and silver production, development and exploration company, today announced the appointment of Ann Candelario to the inaugural position of Vice President, Investor Relations. In this position, Candelario will be responsible for the execution of the investor relations program and the effective communication of the Company's business opportunities and growth strategy to the investment community. Candelario will report to Laurence Curtis, President and Chief Executive Officer.

Candelario has more than 12 years experience in the investor relations field. She directed and managed the investor relations program at International Network Services Inc., a network consulting and services company which was acquired by Lucent Technologies. In 1999, she participated in the successful initial public offering of CacheFlow, Inc., a Silicon Valley-based network appliance company.

"We are delighted to have Ann join Intrepid," said Laurence Curtis, President and Chief Executive Officer at Intrepid Mines. "Intrepid is at the beginning of an exciting stage of development. Having recently completed the merger with NuStar Mining in Australia, the combined Company is now a dual-listed gold producer with an international portfolio of advanced exploration projects providing strong future growth potential. Ann's proven track record at communicating a company's vision and strategy to the investment community will play a key role as we move forward."

On behalf of the Board of Directors of Intrepid Mines Limited.

Laurence Curtis

Intrepid Mines Limited has an international production, development and exploration profile, and holds interests in several gold-silver and silver-base metal properties in Australia, Argentina, El Salvador, and Canada, either directly or through joint venture partnership. The issued capital is 150,032,576 shares comprised of 119,027,689 ordinary shares of Intrepid Mines Limited quoted on the TSX:IAU and ASX:IAU and 31,004,887 Exchangeable Shares of Intrepid NuStar Exchange Corporation quoted on the TSX:IXN.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This release contains certain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX & ASX has neither approved nor disapproved the information contained in this press release. Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.