Vancouver, B.C. – July 9, 2025 – TheNewswire - IDEX Metals Corp. ("IDEX" or the "Company") (TSXV: IDEX) is pleased to announce the commencement of its 2025 field exploration program at the Company’s 100% owned Freeze Project, a copper-gold porphyry system located in the emerging Idaho Copper Belt. The fully funded program will consist of a multiphase approach with soil and rock sampling, property wide mapping, geophysics and diamond drilling. Exploration will focus on confirming areas of known mineralization at the Kismet Tourmaline Breccia Pipe and discovering new zones of mineralization across the amalgamated 31,645 acre property.

Key Highlights

• Multiphase Exploration Program: The Company’s fully funded 2025 program is underway at the 31,645-acre Freeze Project including geological mapping, sampling, geophysics, and diamond drilling across the largely underexplored copper-gold porphyry prospect. 

• Extensive Surface Work to Define New Targets: With the collection of up to 5,000 soil and rock samples, along with geological mapping, it is expected to expand coverage of known anomalies, investigate new targets, and refine the district-scale exploration model. 

• Advanced Geophysical Surveys: A Magnetotelluric (MT) and experimental Natural Source Induced Polarization (NSIP survey was completed over much of the property to map deep porphyry-related structures at depth, with optional a ZTEM survey under evaluation pending initial results. 

• Drilling to Target Priority Zones: Up to 2,500 metres of diamond drilling will follow up on high-grade historical intercepts at the Kismet Target and test coincident geochemical-geophysical anomalies at the Cuddy Mine (CM) Target, with IDL permits in place and USFS permitting progressing. 

“The 2025 program at Freeze marks a significant step forward for IDEX,” stated Clayton Fisher, CEO of IDEX. “Exploration is designed to aggressively advance our technical understanding of this emerging copper-gold system, guided by compelling historical data, newly defined anomalies, and a robust geologic model. With multiple porphyry targets, strong geophysical and geochemical anomalies, and permitting in place, we are positioned to systematically evaluate the mineral potential of this underexplored district.”

Freeze Project Overview

The Freeze Project totals 31,645 acres through a combination of United States Forest Service (USFS) claims and a recently secured Idaho Department of Lands (IDL) mineral lease (see June 24th, 2025, news release). IDEX has a significant land position in the Idaho Copper Belt, a newly emerging porphyry district that has attracted majors including Barrick, Rio Tinto, Teck, and BHP.

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Figure 1. Geological and structural model of the Freeze Project showing plan view (top) and   interpreted cross-section (bottom)

IDEX’s Freeze Project exhibits geological characteristics analogous to Hercules Metals’ Leviathan discovery and Scout Discoveries’ Cuddy Mountain project, such as phyllic alteration halos and widespread copper-in-soil anomalies. Despite the scale and potential of the landholding, only ~13% of the property has been explored using modern techniques.

As part of its initial exploration focus, IDEX has prioritized two high-potential zones within the broader Freeze land package: the Kismet and Cuddy Mine (CM) targets. Kismet represents a high-priority porphyry-related target characterized as a copper-bearing Tourmaline Breccia Pipe (TBP). It is defined by a 500 x 500 m Cu-in-soils anomaly and supported by historic drillhole results up to 40.15 m @ 0.83% Cu (see June 10th, 2025, news release). Surface mineralization includes chalcopyrite, azurite, malachite, and tourmaline in conjunction with alteration that are characteristic of TBP systems, which are commonly associated with porphyry copper deposits.

The Cuddy Mine (CM) target features a 1,500 x 2,000 m Cu-in-soil anomaly supported by rock samples grading up to 3.5% Cu & 33 g/t Au, and a coincident IP chargeability high flanked by resistive zones (see June 10th, 2025, news release). These features are indicative of a potential buried porphyry or high-sulfidation epithermal system. Drill targets at CM have been prioritized based on the overlap between known geochemical and geophysical anomalies.

Phase 1 Exploration Timeline

The first phase of exploration has now commenced at the Freeze Property. Exploration will focus on a phased approach with concurrent mapping and sampling, staged geophysical surveys, and diamond drilling. Exploration activities are expected to continue until mid-September 2025. Sampling and mapping will continue until the end of August, while the initial Magnetotelluric (MT) and experimental Natural Source Induced Polarization (NSIP) geophysical surveys have already been completed. Drilling is expected to begin in mid-July and continue until mid-September. These timelines are subject to change based on ongoing results and field conditions.

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Figure 2. Expected timelines of mapping and sampling, geophysics and drilling at the Freeze project.

Sampling and Mapping Program

IDEX has launched a systematic and comprehensive sampling and mapping campaign at Freeze including the collection of up to 5,000 soil and rock samples. Work will focus on the expansion of high-priority areas such as the Kismet and CM zones, and discovery of new zones based on geophysical interpretation and current boots-on-the-ground mapping and sampling work.  

To date, over 700 soil samples have been collected, focussing on infilling the immediate area between the Kismet TBP, and the CM Target. Furthermore, expanded soil grids are being targeted in the erosional window surrounding the Kismet Target. This work builds on previous campaigns that yielded rock samples grading up to 3.5% Cu and 33 g/t Au, with 18 out of 121 samples returning over 1 g/t Au in pyrite-rich, vuggy quartz veins (see June 10th, 2025, news release).

The Company will also undertake detailed geological mapping across ~27,000 acres of previously unmapped terrain. Mapping will focus on identifying new exposures of Triassic lithologies in erosional windows across the property. Initial work will prioritize the Hornet and Olive Creek areas, which provide key transects across major lithological units. If new mineralized exposures are identified, the erosional windows will then be mapped and sampled in detail, with a focus on identifying structural controls on mineralization and alteration.  These features may indicate the presence of a large magmatic-hydrothermal system, which are known to host multi-kilometre copper-gold deposits. Mapping will be integrated with geophysical and historical geochemical datasets to refine exploration models and guide future targeting.

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Figure 3: Soil sample survey at Freeze.

MT & NSIP Geophysics

To enhance subsurface targeting and refine the structural and lithological framework at depth, IDEX completed a sparse, broadband MT survey over the core project area at Freeze. The survey was conducted by Moombarriga Geoscience (M-Geo US Inc.). MT geophysics measures natural variations in the Earth's electromagnetic fields to map resistivity contrasts in the subsurface, making it a powerful tool for imaging conductive and resistive bodies associated with mineralized porphyry systems.

Data from 27 five-component MT sounding stations were acquired, centered over the Kismet and CM target areas. The MT survey provides deep imaging capability, detecting resistivity contrasts to depths exceeding two kilometres, which will refine drill targeting and help resolve deeper conductive zones linked to porphyry intrusions and alteration halos. Preliminary models are expected in July, followed by a full 3D inversion in August. The program also benefited from cost efficiencies due to concurrent regional work and the use of nearby existing MT stations.

Additionally, IDEX has included the use of experimental NSIP data, which could offer an additional chargeability layer to highlight disseminated sulfide zones and map deep resistivity features associated with porphyry systems.

An airborne ZTEM survey may be conducted as a follow-up, depending on results of the MT survey and findings from a planned drill program expected to commence in mid-July of 2025. ZTEM would complement the MT dataset to generate a more comprehensive joint inversion and 3D model of the district.

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Figure 4. Magnetotelluric (MT) geophysical station sites at Freeze

Drilling Program: Kismet & Cuddy Mine Targets

Kismet Target

The Kismet Target is centered on a copper-bearing Tourmaline Breccia Pipe where historical drilling intersected strong near-surface mineralization, including 40.15 m @ 0.83% Cu, including 15 m @ 1.26% Cu (see June 10th, 2025, news release). Recent surface sampling by IDEX has outlined a 500 x 500 metre copper-in-soil anomaly at Kismet, with values up to 0.3% Cu supporting the presence of near-surface mineralization (see June 10th, 2025, news release).

Alteration zonation at Kismet includes an upper oxidized zone, a phyllic assemblage with tourmaline-quartz-sericite and clay alteration, and a deeper potassic zone featuring biotite and porphyry clasts observed in historic core. Drill logs from shallow (≤130 m) historic holes indicate a transition from oxide to phyllic alteration, ending just above the potassic zone, suggesting the deeper, higher-grade porphyry core was not tested.

The Kismet Target is located within IDEX’s 28,432-acre Hornet Block, which is fully permitted for drilling under its IDL mineral lease (see June 24th, 2025, news release).

Drilling objectives at Kismet will be to confirm historic high-grade drill intercepts, and to test for deeper porphyry mineralization. Regional structural interpretation indicates that porphyry systems in the district are tilted northwest, meaning mineralized centers plunge to the southeast. Planned 2025 drilling will target these down-plunge extensions of tilted mineralization to tap into a potentially intact porphyry core at depth.

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Figure 5. Schematic of idealized Kismet Tourmaline Breccia Pipe (TBP) and the proposed diamond drill hole design to target potential porphyry mineralization at depth.

Cuddy Mine (CM) Target

The CM target hosts a broad 1,500 x 2,000 m copper-in-soil anomaly, supported by rock samples grading up to 3.5% Cu and 33 g/t Au (see June 10th, 2025, news release). In 2024, IDEX completed an induced polarization (IP) geophysical survey which identified a coincident central chargeability anomaly flanked by resistive zones, features that are consistent with a buried porphyry or high-sulfidation epithermal system.

The CM target is located on the 3,213 acre USFS portion of the Freeze property. Permitting in this area is progressing, with approval from the USFS expected by late summer 2025. Drill targets have been prioritized based on the overlap of coincident geochemical and geophysical anomalies, with the recent MT & NSIP geophysical surveys and ongoing field exploration expected to further refine and optimize drill collar locations ahead of program initiation.

Upcoming Catalysts

With multiple technical programs underway, IDEX is well positioned to deliver a transformative year of exploration across its flagship Freeze Project. A fully permitted IDL lease gives IDEX the flexibility to keep drills turning while USFS approvals for the CM block are finalized. Investors can therefore expect a steady stream of technical updates throughout the summer and into the fall as the Company works toward unlocking the district-scale copper-gold potential of Freeze.    

Engagement of Plutus Invest and Consulting GmbH

In addition, the Company would like to announce that it has entered into a marketing services and consulting agreement with Plutus Invest & Consulting GmbH (“Plutus”), a company located in Bremen, Germany, providing online marketing services for mineral resources companies.

Plutus is wholly-owned by Marco Messina. Pursuant to the agreement, Plutus will provide the Company with marketing and communications services for a term commencing on July 7, 2025 and ending on July 6, 2026. The services provided by Plutus will be consulting services relating to connections with European service providers, advertising on digital platforms, marketing, European regulatory compliance, PR strategies and building investor awareness of the Company through Plutus's network in the European markets. The Company has agreed to pay Plutus a one-time cash fee of CAD$120,000. Plutus is an arm's length party to the Company. To the best of the Company’s knowledge, neither Plutus nor any non-arm’s length parties to Plutus own any securities of the Company and do not have any right to acquire any securities of the Company as at the date hereof.

Qualified Person Statement

David Hladky, P.Geol. (registered in Alberta) and VP Exploration of IDEX Metals Corp., a Qualified Person (“QP”) as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects,  is responsible for the accuracy of, and has reviewed and approved the use of the scientific, technical and historical information pertaining to the Freeze, Mineral Mountain and Amie Projects (the “Projects”) in this news release.

This news release contains information that relates to rock sampling completed on portions of the Freeze Project.  Rock sampling is selective by nature and may not be representative of the mineralization actually located at the Freeze Project.  Additionally, this news release refers to other projects that are adjacent, nearby or potentially analogous to the Freeze Project from a geological perspective.  Mineralization hosted on adjacent, nearby or geologically similar projects, is not necessarily indicative of mineralization hosted at the Freeze Project.  

About IDEX Metals Corp.

IDEX Metals Corp. is a mineral exploration company focused on advancing a portfolio of base and precious metal projects in Idaho, USA. IDEX is primarily focused on the exploration and development of the Freeze Copper-Gold porphyry prospect located in the newly discovered Idaho Copper Belt, Washington County, Idaho. With a strategic land position in a top-tier mining jurisdiction and surrounded by major industry players, IDEX is committed to redefining district-scale exploration in Idaho.

For more information, please visit https://idexmetals.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

Clayton Fisher, CEO & Director

For further information regarding IDEX contact:

Sharyn Alexander
Vice President Corporate Development
info@idexmetals.com
1 (604) 260-0356

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, IDEX disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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