Sierra Geothermal Power Corp.
TSX VENTURE : SRA

Sierra Geothermal Power Corp.

April 28, 2010 16:48 ET

Sierra Geothermal Reports Year-End 2009 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2010) - Sierra Geothermal Power Corp. (SGP) (TSX VENTURE:SRA) today announced the release of its financial results for the year ended December 31, 2009.

For the year ended December 31, 2009, SGP reported a net loss of $2,954,675 or ($0.03) per share compared to a net loss of $3,930,023 or ($0.06) per share for the year ended December 31, 2008.

As of December 31, 2009, SGP had cash and short-term investments of $8,260,320 and working capital of $6,664,549 compared to cash and short-term investments of $3,777,687 and working capital of $4,039,809 as at December 31, 2008.

The full text of the Company's audited financial statements and management's discussion and analysis is available on the SEDAR website at www.sedar.com.

About Sierra Geothermal Power Corp.

Sierra is a Vancouver-based geothermal energy company focused on the exploration and development of clean, sustainable power in Western North America. Sierra has 100% control over its portfolio of geothermal properties in Nevada, California and British Columbia. Sierra's projects have a combined total estimated capacity of almost 400MW. One megawatt (MW) is enough to power 800 homes. www.sierrageopower.com.

On behalf of the Board of Directors

"Gary R. Thompson"

Gary Thompson, P.Geo
President, Chief Executive Officer and Director

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this news release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that Sierra expects or anticipates may occur in the future. Forward-looking statements can be identified by the use of forward-looking words such as "may", "would", "could", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. Forward-looking statements in this news release include statements about SGP projects having a combined total estimated capacity of almost 400MW.

There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. Readers are cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in the law, actions of competitors, drill results and other changes in circumstance, and Sierra's ability to implement business strategies and pursue its business plan. In addition, all forward-looking statements involve risks and uncertainties, including the risks and uncertainties detailed in SGP's filings with the applicable Canadian securities commissions, copies of which are available at www.sedar.com. We urge you to carefully consider these factors.

All of the forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Sierra undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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