Vancouver, B.C. – June 24, 2025 – IDEX Metals Corp. ("IDEX" or the "Company") (TSXV: IDEX) is pleased to announce two significant milestones as it advances its flagship Freeze Project, a copper-gold porphyry system located in the emerging Idaho Copper Belt. The Idaho Department of Lands has approved the Company’s Phase I Exploration Plan for the Hornet Block, and IDEX has engaged Scout Drilling LLC ("Scout Drilling"), a wholly owned subsidiary of Scout Discoveries Corp., to execute its fully funded 2025 diamond drill program.

Key Highlights

• Drill Permit Approval: The Idaho Department of Lands (IDL) has formally approved IDEX’s Phase I Exploration Plan for the Hornet Block, part of the Freeze Project, enabling the Company to commence drilling at the high-priority Kismet Target.      

• Scout Drilling Engaged: IDEX has engaged Idaho-based Scout Drilling, a subsidiary of Scout Discoveries Corp., to lead the upcoming fully funded 2,500 metre diamond drill program beginning Q3 2025. Scout owns its own drill fleet and brings significant experience operating in the Idaho Copper Belt. 

• Ongoing Exploration Planning: IDEX plans to drill up to 2,500 metres at the Kismet and CM targets, as well as, to complete a large-scale MT geophysical survey, property wide mapping, and a 5,000 sample geochemical survey. Further details on the Phase I exploration program, including broader 2025 field plans, will be provided in an upcoming news release. 

• Additional Permits Nearing Completion: The Company’s application on United States Forest Service (USFS) land is in the final stages of review, with permit approval anticipated by late summer. 

Exploration Plan Approved on Idaho State Land

The 28,432-acre Hornet Block, part of IDEX’s 100%-owned Freeze Project, is now fully permitted for drilling under its Phase I Exploration Plan. The IDL permit allows for an initial 5 acres of surface disturbance, with the ability to expand as required, providing greater flexibility than comparable permits on federal land. With 20 pads already approved in Phase 1 and a fast, streamlined amendment process, IDEX can rapidly adapt and scale its drill program based on initial results.

This key approval allows IDEX to commence drilling at the Kismet Target (Figure 1), a copper-bearing tourmaline breccia pipe last drilled in 1965. Certain assays from the aforementioned historical drilling at Kismet included 41.15 metres of 0.85% Cu from 9.14 metres depth (Hole 4; see June 10, 2025, news release). Extensive soil and rock sampling over the Kismet target performed by IDEX has delineated a 500 x 500 metre copper-in-soil anomaly coincident with mapped tourmaline breccia and oxide copper minerals such as malachite and azurite. These features are consistent with other porphyry-style systems in the Idaho Copper Belt.

The Company’s adjacent 3,213-acre USFS permit area, encompassing the CM Target, is also nearing final approval (Figure 1). The CM Target hosts a ~1.5 x 2.0 kilometre copper-in-soil anomaly coincident with a high chargeability and resistivity geophysical response identified through 3D IP surveying in 2024 (see June 10, 2025, news release). Drill-ready status is anticipated in late summer 2025.

Figure 1. Freeze Project Target Areas

Scout Drilling Engagement

IDEX has engaged Scout Drilling of Coeur D'Alene, Idaho, to lead its upcoming 2,500-metre diamond drill program at the Freeze Project. Scout Drilling is a well-established operator in the Idaho Copper Belt, with active programs at both the project level (Scout Discoveries) and for other regional explorers such as Hercules Metals. Their familiarity with the district and cost efficiency make them an ideal partner as IDEX advances its exploration efforts.

The Company has secured a favourable fixed all-in drill cost below current industry averages, significantly reducing budget risk and protecting against potential cost overruns. As a stakeholder in the broader success of the district, Scout is motivated to deliver cost-effective results to help prove out the area's mineral potential. The drill program will also include Terraspec hyperspectral imaging, enabling rapid identification of alteration minerals to enhance targeting and geological interpretation.

Fully Funded 2025 Field Season

Following the completion of its C$5.0 million financing and TSX.V listing (see June 10, 2025, news release), IDEX is fully funded to execute a multi-phase exploration program at Freeze which will include geophysics, mapping, and geochemical sampling:

• Up to 2,500 metres of drilling at the Kismet and CM targets, commencing Q3 2025. 

• District-scale geophysics, including a magnetotelluric (MT) geophysical survey, and ongoing rock and soil sampling, will be conducted concurrently to the drill program to enhance district-scale understanding. 

• Property-wide generative exploration to prioritize and refine additional targets across the 31,645-acre land package at Freeze.  

• USFS permit approval expected in late summer 2025. 

Further updates on drill targets, program design, and technical interpretations will be provided in the coming weeks.

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 District, 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

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