Intrepid: update regarding new PT IMN shareholders

(25 July 2012)--Intrepid Mines Limited provides an update following on the advice to the market on 28 June 2012 regarding the change in shareholding of its Indonesian joint venture partner, PT Indo Multi Niaga ("IMN").

The Company has sought to engage the original shareholders of IMN on the identity of the new shareholders, without success. Enquiries made at the Indonesian Ministry of Law and Human Rights revealed that the following additional individuals and entities were listed as shareholders of IMN as at 12 June 2012:

PT Cinta Kasih Abadi
PT Selaras Karya Indonesia
Andreas Tjahjadi
Rahmad Deswandy.

The Company is not able to give any assurance as to the accuracy of this information, as the publicly available information is sourced from filings which are the legal responsibility of the Directors of IMN, and there is no assurance that these filings are correct or current.

The new shareholders listed above collectively hold 80% of the expanded issued capital in 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 IMN holding the remaining 20%.

Intrepid continues to attempt to establish discussions with both the new and original IMN shareholders.(ends)