Intrepid Potash, Inc. Announces Preliminary Second Quarter 2011 Sales and Production Results

Intrepid Potash, Inc IPI announced today preliminary sales and production results for the second quarter 2011 and provided an update regarding two major capital projects. On an unaudited basis, during the second quarter of 2011, Intrepid estimates that it produced between 205,000 and 215,000 tons of potash and sold between 220,000 and 230,000 tons of potash. Production within the quarter includes the benefit of approximately one extra month than historically normal of production from our Moab solar solution mine because of favorable brine levels and harvest conditions. Intrepid estimates its average net realized sales price for potash sold during the quarter was approximately $455 – $465 per ton. The strong sales were a function of the flexibility afforded us by our investment in additional potash granulation capacity at our Moab facility together with the execution of our strategic marketing plan. On an unaudited basis, during the second quarter of 2011, Intrepid estimates that it produced approximately 40,000 – 50,000 tons of Trio® and sold approximately 35,000 – 45,000 tons of Trio®. Intrepid estimates that its average net realized sales price for Trio® during the quarter was approximately $215 – $225 per ton. Intrepid reports “average net realized sales price,” which is an operating performance measure. Average net realized sales prices are derived by subtracting freight costs from gross sales revenue and then dividing this result by sales tons. Intrepid expects to release its second quarter 2011 financial results after market close on Wednesday, August 3, 2011.