IDAHO FALLS, Idaho, Dec. 19, 2003 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) a renewable energy company (OTCBB:IESV) has engaged the services of Wiley Consulting Associates, LLC (WCA) of Englewood, Colorado to provide a comprehensive evaluation of ITR's gold properties located in western Montana. The evaluation will include the Garnet gold property, which contains an estimated 450,000+ oz., of gold.
The company anticipates that the results of the study by WCA will result in a final decision to either sell the property, or under a joint venture, open the mine. ITR's chairman Dr. Dennis Keiser stated in making the announcement on the gold property evaluation that "with the sharp increase in gold prices to the 400 dollar per oz. Range, it may now be advantageous for ITR to consider all available options." The contract additionally includes an agreement by WCA to assist in locating and securing potential buyers or joint venture partners once the study has been completed if the study indicates that the property is currently commercially viable. Completion of the study is estimated to be on or before April 1, 2004.
The president of WCA, Marcus A Wiley, in agreeing to the comprehensive evaluation has stated that he is encouraged, after their preliminary review of the drilling data done by Pegasus Gold Co., that the property may have commercial viability. WCA has been providing mineral research, exploration, reserve evaluation, contract mining, brokering and other services to the mining industry since 1981. The firm has a substantial portfolio of clients including, Marathon Oil, Placer Dome America, ARCO Coal, Reading and Bates, Santa Fe Mining and many other mining, hydrocarbon and mineral entities located throughout North America.
About Intrepid Technology: We are a premier technology application innovator of Biogas, bio-diesel and Ethanol products and services designed to assist in worldwide energy independence and reduce pollution (Green Energy). All of these are from renewable agriculture feedstock and industrial and agriculture waste materials.
Certain statements contained herein constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.