Polaris Geothermal Inc.

Polaris Geothermal Inc.

December 27, 2007 09:24 ET

Polaris Geothermal Inc.-Appointment of James B. Randle as Vice-President, Project Development

TORONTO, ONTARIO--(Marketwire - Dec. 27, 2007) - Tom Ogryzlo, President and Chief Executive Officer of Polaris Geothermal Inc. ("Polaris Geothermal" or the "Company") (TSX:GEO) a renewable energy geothermal power producer based in Toronto, Canada, is pleased to announce the appointment of Jim Randle to the position of Vice-President, Project Development.

Jim has 25 years of experience in the development of geothermal projects worldwide, having worked for New Zealand Electricity, Design Power NZ Ltd. and as a Principal of Sinclair Knight Merz Ltd. (previously KRTA Ltd. and Kingston Morrison Ltd. of New Zealand which was acquired by SKM), one of the world's foremost geoscientific and engineering consultants in the geothermal field). He originally trained as a nuclear submarine propulsion engineer in the British Royal Navy and is a Chartered Engineer, a Fellow of the Institute of Mechanical Engineers (England) and a Member of the Institute of Professional Engineers New Zealand.

For the past several years, Jim has been instrumental in development of Phase I of Polaris Geothermal's 200 MW San Jacinto geothermal project in Nicaragua.

Tom Ogryzlo commented that: "Jim's appointment represents an important step towards achieving our objective for growth by expanding our project portfolio through acquisition of projects. A number of these have already been identified as a result of our strategic alliance with SKM and are already under investigation both within and outside of Nicaragua. Jim's project development skills will greatly assist the Company in selecting and bringing to fruition a series of projects which we are already identified."


This press release includes certain "forward-looking statements". Statements respecting the development of the San Jacinto-Tizate geothermal project, including its ability to achieve anticipated production levels and acquire projects to further the growth and development of the Company, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include unpredictable actions of the Nicaraguan government, political risk, changes in legal, social or political conditions in Nicaragua, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update anny forward-looking statements.

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