Intrepid Potash, Inc. Announces Preliminary Second Quarter 2011 Sales and Production Results and a Capital Projects Update

Intrepid Potash, Inc. ('Intrepid?) (NYSE:IPI) announced today
preliminary sales and production results for the second quarter 2011 and
provided an update regarding two major capital projects.

Preliminary Sales and Production Results

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.

Langbeinite Recovery Improvement Project Update

In June 2011, Intrepid received its air quality construction permit for
the granulation plant which is part of the overall Langbeinite Recovery
Improvement Project being constructed at our East Mine near Carlsbad,
New Mexico, which is an estimated capital investment of $85 to $90
million. Upon receipt of the permit, Intrepid commenced construction of
the granulation plant. With the commencement of this construction work,
Intrepid is progressing with the construction and fabrication of both
the dense media separation plant and the granulation plant. We currently
expect the dense media separation plant to be in operation during the
fourth quarter of 2011 and the granulation plant to be in operation in
early 2012.

HB Solar Solution Mine Update

With respect to the HB Solar Solution Mine project near Carlsbad, New
Mexico, the public comment period for the Draft Environmental Impact
Statement closed in late June 2011. The current schedule for receiving
the Record of Decision from the Bureau of Land Management on the project
remains in the first quarter of 2012.

Intrepid is the largest producer of potash in the U.S. and is dedicated
to the production and marketing of potash and Trio ^®, a
product produced from langbeinite ore. Intrepid owns five active potash
production facilities -- three in New Mexico and two in Utah.

Intrepid routinely posts important information about its business on its
website under the Investor Relations tab. The website address for
Intrepid is www.intrepidpotash.com.

Certain statements in this press release, and other written or oral
statements made by or on behalf of us, are 'forward-looking statements?
within the meaning of the federal securities laws. Statements regarding
future events and developments and our future performance, as well as
management′s expectations, beliefs, plans, estimates or projections
relating to the future, including statements regarding guidance, are
forward-looking statements within the meaning of these laws. Although we
believe that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, there can be no
assurance that the expectations will be realized. These forward-looking
statements are subject to a number of known and unknown risks and
uncertainties, many of which are beyond our control that could cause
actual results to differ materially and adversely from such statements.
These risks and uncertainties include: changes in the price of potash or
Trio ^®; operational difficulties at our facilities that limit
production of our products; interruptions in railcar or truck
transportation services; the ability to hire and retain qualified
employees; changes in demand and/or supply for potash or Trio ^®/langbeinite;
changes in our reserve estimates; our ability to successfully execute
the projects that are essential to our business strategy, including but
not limited to the development of the HB Solar Solution mine as a
solution mine and the further development of our langbeinite recovery
assets; weather risks affecting net evaporation rates at our solar
solution mining operations; changes in the prices of our raw materials,
including but not limited to the price of chemicals, natural gas and
power; fluctuations in the costs of transporting our products to
customers; changes in labor costs and availability of labor with mining
expertise; the impact of federal, state or local government regulations,
including but not limited to environmental and mining regulations, and
the enforcement of such regulations; obtaining permitting for applicable
federal and state agencies related to the construction and operation of
assets; competition in the fertilizer industry; declines in U.S. or
world agricultural production; declines in use by the oil and gas
industry of potash products in drilling operations; changes in economic
conditions; adverse weather events at our facilities; our ability to
comply with covenants inherent in our current and future debt
obligations to avoid defaulting under those agreements; disruption in
credit markets; our ability to secure additional federal and state
potash leases to expand our existing mining operations; and governmental
policy changes that may adversely affect our business and the risk
factors detailed in our filings with the U.S. Securities and Exchange
Commission. Please refer to those filings for more information on these
risk factors. These forward-looking statements speak only as of the date
of this press release, and, except as required by law we undertake no
obligation to publicly update or revise any forward-looking statement,
whether as the result of future events, new information or otherwise.

Intrepid Potash, Inc.

William I. Kent, 303-296-3006