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Intrepid Mines Limited: Intrepid Annual Remuneration Report

^{Published on 2009-02-04 15:38:09, Last Modified on 2009-02-04 15:38:36 - Market Wire}
 

BRISBANE, AUSTRALIA--(Marketwire - Feb. 4, 2009) - Intrepid Mines Limited (TSX:IAU)(TSX:IXN)(ASX:IAU) (the "Company") announces that its Board has completed a comprehensive review of remuneration policies for senior executives and directors, including contract arrangements in force at the time of the merger with Emperor Mines Limited.

Details of these revisions are available on the Intrepid website [ www.intrepidmines.com ], [ www.sedar.com ] and [ www.asx.com.au ]. The highlights of the revisions are reported below.

A number of changes have been made with regard to the remuneration arrangements for the Company's Chief Executive Officer, the Leadership Team reporting to the Chief Executive Officer and Directors.

The key points of these new remuneration arrangements are:

- a reduction in the CEO's Total Fixed Remuneration (guaranteed) in return for an enhanced short term and long term incentive potential - subject to relative performance measured against peer groups;

- no salary increases for 2009; and

- the partial payment of directors' fees in Company shares to align with shareholder interests.