Intrepid options Rosarita to expand Kamila target

Toronto-based Intrepid Minerals (TSX-V: IAU) reported that it has entered into an option agreement with Vancouver-based Exeter Resource (TSX-V: XRC) to earn a 50% interest in Exeter's Rosarita epithermal gold project in Argentina's San Juan province. The 7,600ha Rosarita concession is on the southern boundary of Intrepid's Casposo project, where an inferred and indicated resource of 304,600oz and 163,200oz gold equivalent respectively has been estimated on the Kamila zone. The Kamila zone is contained in a 3.5km long northwest-southeast trending structure which may extend into the Rosarita property, said Intrepid. Exploration will focus on extending the Kamila zone's defined resource, especially at depth. The option agreement calls for minimum expenditures of US$250,000 by end-2005 and a total of 5,000m of drilling by end-2006. KAMILA DRILL RESULTS Intrepid also reported results from the last eight holes of a phase 2 drill program at Kamila. Four holes tested the northern limit of the proposed open pit and no significant values were encountered, it said. Of the remaining four, drilled for metallurgical test work for the ongoing scoping study, the best hole returned 19.9m of 6.03g/t gold equivalent.