Intrepid Mines updates E. Java gold project

Intrepid Mines Limited announces that the technical report entitled ?Tujuh Bukit Project Report on Mineral Resources? dated January 2011, has been filed on SEDAR (www.sedar.com) as well as with the ASX (www.asx.com)

The report was prepared by independent consultants Hellman and Schofield Pty. Ltd. in accordance with the JORC Code and Canadian NI 43-101. It details an updated Inferred Resource estimate of 130 million tonnes at 0.55 g/t gold and 18 g/t silver above a 0.2 glt gold cut-off, for 2.4 million ounces of contained gold and 80 million ounces of contained silver within the combined oxide zones of the Tumpangpitu area of the Tujuh Bukit Project in East Java.

The updated oxide resource estimate follows on the Company?s announcement of the initial Inferred Resource of 500 million tonnes at 0.4% copper and 0.5 g/t gold, at a cut-off grade of 0.2% copper, for the known porphyry copper-gold zone within the Tumpangpitu area of the Tujuh Bukit Project.

Exploration Drill program
The Company currently has 6 diamond drills testing the Tumpangpitu area, five of which are located south of the main porphyry zone. Two of these drills ? all of which have a depth capacity of 1,200 metres ? are located between 100 and 450 metres south of the area used for the latest porphyry inferred resource estimate. The other two drills are set approximately 160 metres to the north and south of GTD 10-137, located 1.2 kilometres south of the main porphyry resource area, which intercepted porphyry mineralisation including 85.85 m at 1.11 g/t gold and 0.54% copper. It has not yet been determined whether this represents an extension of the already large main porphyry zone or if it is a separate porphyry zone.

Assay results for this latest drilling are expected in approximately one month. (end of edited excerpt)