SOURCE: Intrepid Technology

March 03, 2008 12:44 ET

Intrepid Technology Announces Board Changes

IDAHO FALLS, ID--(Marketwire - March 3, 2008) - Intrepid Technology and Resources, Inc. (OTCBB: IESV), a renewable alternate energy and soil amendment company , announces that the Board has appointed Mr. Jack Haffey, past Chief Operating Officer of Montana Power Company, which was acquired by Northwestern Energy in 2002 and President of Montana Power's Utility Division from 2000 to 2002, to fill a position on the Intrepid Board of Directors.

Mr. Haffey has over 30 years of progressive leadership experience, including 15 years as a corporate officer and 6 years as an executive officer for a multi-billion dollar organization.

In accepting the appointment Mr. Haffey stated, "Intrepid is committed to a noble purpose, that of making a significant contribution to the environmental well-being of the planet. It has state of the art and even cutting edge technology for processing dairy farm manure to clean, high quality methane and soil-enriching fiber. Having proven this technology conceptually and on a commercial level, its people are now ready with their professional aptitudes and passion for their purpose to provide value to the agricultural and energy sectors of the economy. I am honored and enthused about having the opportunity to join the Intrepid Board and do whatever I can to pitch in and help the company and its people take this value to the markets."

As Executive Vice President and COO from 1996 to 2002, he provided executive leadership to guide Montana Power through ongoing changes in the electric, natural gas, and telecommunication markets. As President of the utility division, Mr. Haffey maintained direct authority and responsibility for all aspects of the utility, including administrative, legal, finance, accounting, IT, operations, engineering, and marketing functions. He oversaw 1000 employees while leading this 1 billion dollar utility. In addition to his corporate experience, he has a strong record of civic and government leadership, including having served as a two term state senator, from 1980 through 1988.

Mr. Haffey will replace Steven Whitesides who is resigning to focus on his expanding dairy operations.

About Intrepid Technology and Resources, Inc.: We are an application innovator in Alternative Energy technology and production and of biogas products and services designed to assist in worldwide energy independence, reduce pollution and carbon emissions from renewable agriculture feedstock and industrial and agriculture waste materials.

Statements released by Intrepid Technology and Resources, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

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