Intrepid Mines Limited: Extraordinary General Meeting-Results
BRISBANE, AUSTRALIA--(Marketwired - May 13, 2014) - Intrepid Mines Ltd. (TSX:IAU)(ASX:IAU) ("Intrepid", or the "Company"), advises that at an extraordinary meeting of shareholders held today, shareholders voted to retain the Chairman, Ian McMaster AM and Managing Director Scott Lowe as Directors of the Company, and to replace three other Intrepid Directors with nominees of requisitioning shareholders Quantum Pacific Investment Limited and Fides Capital Partners Limited.
Chairman Ian McMaster AM said "I congratulate Messrs Mazur, Sanderson and Lim on their appointment to the Board. The newly constituted Intrepid Board will meet in the near future with the shared objective of working constructively in the interests of all shareholders."
"I would also like to take this opportunity to sincerely thank and recognise Laurie Curtis (Founding Chief Executive), Colin Jackson (Deputy Chairman) and Rob McDonald for their tireless efforts and stewardship of the Company over a number of years. I am especially grateful for their active support and efforts throughout the very difficult period of the Indonesia dispute and ultimate settlement."
"Looking ahead, the Annual General Meeting will be held on 30 May 2014 and shareholders will then determine the future of the Company including voting on a capital return."
Results of the poll which was called by the Chairman was as follows:
| Resolution | Votes in Favour | Votes Against | Abstain |
| 1. Removal of Ian McMaster AM | 176,505,476 | 210,527,064 | 7,532,359 |
| 2. Removal of Scott Lowe | 176,840,600 | 210,193,378 | 7,530,921 |
| 3. Removal of Colin Jackson | 241,820,370 | 145,213,608 | 7,530,921 |
| 4. Removal of Robert McDonald | 226,918,640 | 160,115,338 | 7,530,921 |
| 5. Removal of Laurence Curtis | 242,425,691 | 145,232,287 | 7,536,921 |
| 6. Appointment of Gregory Mazur | 228,539,874 | 158,476,927 | 7,548,098 |
| 7. Appointment of Lim Yu Neng Paul | 228,501,057 | 157,515,744 | 7,548,098 |
| 8. Appointment of Clifford Sanderson | 241,780,228 | 145,186,406 | 7,598,265 |
Proxies received were as follows
| Resolution | Votes in Favour | Votes Against | Open Board | Open Other | Abstain |
| 1. Removal of Ian McMaster AM | 176,505,476 | 201,849,544 | 871,358 | 17,353 | 7,532,359 |
| 2. Removal of Scott Lowe | 176,840,600 | 201,535,858 | 851,358 | 17,353 | 7,530,921 |
| 3. Removal of Colin Jackson | 241,820,370 | 136,556,088 | 851,358 | 17,353 | 7,530,921 |
| 4. Removal of Robert McDonald | 226,918,640 | 151,457,818 | 851,358 | 17,353 | 7,530,921 |
| 5. Removal of Laurence Curtis | 242,425,691 | 136,475,526 | 950,599 | 17,353 | 7,536,921 |
| 6. Appointment of Gregory Mazur | 228,539,874 | 149,427,955 | 1,242,810 | 17,353 | 7,548,098 |
| 7. Appointment of Lim Yu Neng Paul | 228,501,057 | 149,456,772 | 1,252,810 | 17,353 | 7,548,098 |
| 8. Appointment of Clifford Sanderson | 241,780,228 | 136,127,434 | 1,252,810 | 17,353 | 7,598,265 |
Inquiries regarding this report and Company business may be directed to the contacts below.
Contact
Intrepid Mines Ltd.
Scott Lowe
Chief Executive Officer, Brisbane, Australia
+61 7 3007 8000
slowe@intrepidmines.com
Intrepid Mines Ltd.
Greg Taylor
Toronto, Canada
+905 337 7673 or (mobile) +1 416 605 5120
gtaylor@intrepidmines.com
www.intrepidmines.com
