Intrepid Mines Announces Resignation of Chief Financial Officer

Intrepid Mines Limited (TSX: IAU)(TSX: IXN)(ASX: IAU) (“Intrepid”), an international precious metals production, development and exploration company, advises that Chief Financial Officer, Brendan Gill, has resigned from the Company, effective 30 May 2008, in order to pursue other business opportunities.

Intrepid Chief Executive Officer, Brad Gordon, expressed his thanks to Mr Gill for his role in finalising the merger with Emperor Mines Limited, noting: “The Company is now well positioned to focus exclusively on growth and development, having completed the integration of all core business systems”.

Intrepid has already commenced a search for a new Chief Financial Officer.

About Intrepid Mines:

Intrepid Mines Limited is an international gold and silver production, development and exploration company. The Company’s producing property is the Paulsens Gold Mine, located in northwestern Australia. The Company’s advanced development property is the Casposo Project located in San Juan Province, Argentina. The Company’s exploration properties are located in Argentina, Australia, Canada, El Salvador, Indonesia and Mexico. The issued capital is 427,902,350 shares comprised of 413,061,497 ordinary shares of Intrepid Mines Limited on the TSX (TSX: IAU) and ASX (ASX: IAU) and 14,840,853 Exchangeable Shares of Intrepid NuStar Exchange Corporation quoted on the TSX (TSX: IXN).

 Contacts: Intrepid Mines Limited – Toronto, Canada Ann Candelario VP Investor Relations (416) 368-4525 Email: acandelario@intrepidmines.com  Intrepid Mines Limited – Brisbane, Australia Brad Gordon Chief Executive Officer +61 7 3007 8011 Email: bgordon@intrepidmines.com.au Website: www.intrepidmines.com

SOURCE: Intrepid Mines Limited