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Intrepid and Aura to Commence Drilling at Taviche Project, Mexico

Tuesday, October 2nd, 2007

Intrepid Mines Limited and Aura Silver Resources Inc. are in receipt of the environmental permit for a minimum eighteen hole (4,000 metre) drill program at the West Taviche joint venture project in Mexico. Rig mobilization from an adjacent property is anticipated mid-month.
The drill program will focus on target three areas: La Noria, San Martin and El Portillo and will consist of at least six holes in each targeting epithermal veins hosting significant gold and silver values.
The Taviche District is located in central Oaxaca, Mexico about 10 km south-southeast of the city of Ocotlan. The Intrepid/Aura holdings are contained in two blocks: the West Taviche Block (6,254 hectares) and the East Taviche Block (7,494 hectares).
The companies have contracted Construccion, Arrendamineto de Maquinaria y Mineria, S.A. de C.V. (CAMMSA) for the completion of a 4,000 metre core program to commence mid-October. CAMMSA is currently drilling the adjacent San Jose project for Fortuna Silver Mines, Inc. with three core rigs and has established logistics and developed considerable technical expertise in the Taviche district.
In preparation for the drill program, access and water usage agreements have been signed with all neighboring communities. Extensive consideration was given to these agreements to assure a long-term relationship based upon mutual trust and assuring environmental stewardship, community participation and sound corporate social responsibility practices.
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