EXHIBIT 5.1 [LETTERHEAD OF MICHAEL J. MCDONAGH, ATTORNEY AT LAW] ---------------------------------------------------- June 16, 2005 Intrepid Technology & Resources, Inc. 501 West Broadway, Suite 200, Suite 200, Idaho Falls, Idaho 82304 RE: INTREPID TECHNOLOGY & RESOURCES, INC. (THE "CORPORATION") REGISTRATION STATEMENT ON FORM S-8 (THE "REGISTRATION STATEMENT") Gentlemen: I have acted as special counsel to the Corporation in connection with the preparation of the Registration Statement filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the "1933 ACT"), relating to the proposed public offering of up to 1,000,000 shares (the "SHARES") of the Corporation's common stock, par value $0.005 per share (the "COMMON STOCK"). I am furnishing this opinion to you in accordance with Item 601(b)(5) of Regulation S-K promulgated under the 1933 Act for filing as Exhibit 5.1 to the Registration Statement. I have reviewed the Registration Statement, and I have examined the Corporation's Certificate of Incorporation, as amended to date, the Corporation's Bylaws, as amended to date, and minutes and resolutions of the Corporation's Board of Directors relating to the registration and proposed issuance of the Shares. I have also examined such other documents, certificates, instruments and corporate records, and such statutes, decisions and questions of law as I have deemed necessary or appropriate for the purpose of this opinion. Based upon and subject to the foregoing, it is my opinion that the Shares are duly authorized for issuance by the Company and, when issued and paid for as described in the Company's 2005 Stock Incentive Plan incorporated by reference in the Registration Statement, will be validly issued, fully paid, and nonassessable. It is also my opinion that any Shares issued to persons who are not "affiliates" of the Company as defined in Rule 144 ("RULE 144") promulgated under the 1933 Act may be issued without transfer restrictions or legends because the Shares are not "restricted securities" within the meaning of Rule 144. Any Shares issued to "affiliates" of the Company may be resold only in accordance with Rule 144 and therefore the certificates evidencing such Shares should bear appropriate restrictive legends. I hereby consent to the filing of this opinion as an Exhibit to the Registration Statement and to the use of my name in the Prospectus constituting a part thereof in connection with the matters referred to under the caption "Legal Matters." Very truly yours, /s/ Michael J. McDonagh - ---------------------------- Michael J. McDonagh, esq.