Intrepid Mines Limited: Shareholder Requisitions for General Meetings

BRISBANE, AUSTRALIA--(Marketwired - Mar 14, 2014) - Intrepid Mines Ltd. ("Intrepid", the "Company") (ASX:IAU)(TSX:IAU) advises that it has received notice ("Notice") under Section 249D of the Corporations Act 2001 (Act) from Quantum Pacific Investment Limited and Fides Capital Partners Limited (Requisitioning Shareholders), who purport to hold in excess of 5% of the voting shares in Intrepid, requesting that the Company hold a general meeting of shareholders to consider resolutions to remove all current directors with the exception of Mr Alan Roberts and to appoint three new directors in their place.

Intrepid also advises that it has received a second notice under Section 249D of the Act from the Requisitioning Shareholders, requesting that the Company hold a further general meeting of shareholders to consider resolutions to effect a return of capital to shareholders.

Under Section 249D of the Act, the directors must call and arrange to hold a general meeting on the request of members with at least 5% of the votes that may be cast at the general meeting. Directors must call the meeting within 21 days after the request is given to the Company and the meeting is to be held not later than 2 months after the Notice has been received. However, the Company is currently evaluating whether the Requisitioning Shareholders meet the requirements of the Act in order validly to give the notices referred to above.

The Company confirms that the general meeting scheduled for 9 April 2014 to consider an agreed sale of the Company's interest in the Tujuh Bukit project and cessation of all legal actions relating to that interest in return for an US$80 million cash settlement negotiated by your directors, is not affected by the above.