Intrepid Mines Completes A$31.9 Million Share Purchase Plan

23.12.2010  |  Marketwired

BRISBANE, AUSTRALIA -- (Marketwire) -- 12/23/10 -- Intrepid Mines Limited ('Intrepid' or the 'Company') (TSX: IAU)(ASX: IAU) is pleased to announce that it has completed the allocation of shares pursuant to the share purchase plan ('SPP') offered to existing shareholders with registered addresses in Australia and New Zealand.

The subscription offer under the SPP closed on 17 December 2010 and the Company has now allocated 17,921,420 ordinary shares at a price of A$1.78 per share, representing gross proceeds to the Company of A$31,900,127. The shares issued pursuant to the SPP will rank equally with existing ordinary shares of the Company.

'We are delighted with the strong support shown by our retail shareholders in relation to the SPP. This support, coupled with the recent success of the institutional offering completed by the Company, allows us to finish a record year on a further high note, with confirmed market support, substantial cash holdings and a near-record share price', said Intrepid CEO, Brad Gordon.

ABN: 11 060 156 452

Contacts:

Intrepid Mines Limited

Brad Gordon

Chief Executive Officer, Brisbane, Australia

+61 7 3007 8011
bgordon@intrepidmines.com


Intrepid Mines Limited

Greg Taylor

Investor Relations, Toronto, Canada

+905 337 7673 or Mobile: +416 605 5120
gtaylor@intrepidmines.com
www.intrepidmines.com