Sierra Geothermal Power Corp.
TSX VENTURE : SRA

Sierra Geothermal Power Corp.

August 26, 2010 14:41 ET

Sierra Reports Q2 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2010) - Sierra Geothermal Power Corp. (TSX VENTURE:SRA) ("Sierra") today disclosed results for its second quarter ended June 30, 2010.

For the second quarter and six months ended June 30, 2010, Sierra reported a net loss of $912,636 or ($0.01) per share and $2,349,219 or ($0.02) per share compared to a net loss of $642,400 or ($0.01) per share and $1,070,631 or ($0.01) per share for the second quarter and six months ended June 30, 2009. As of June 30, 2010, Sierra had cash of $4,086,346 and working capital of $3,902,147, compared to cash of $8,260,320 and working capital of $6,664,549 on December 31, 2009. The full text of Sierra's unaudited financial statements and management's discussion and analysis is available on the SEDAR website at www.sedar.com or at www.sierrageopower.com.

As disclosed in its July 21, 2010 news release, Sierra has scheduled a special meeting of shareholders at 10:00 a.m. (Vancouver time) on August 31, 2010, at the offices of its counsel, Clark Wilson LLP, at 800- 885 West Georgia Street, Vancouver, B.C., at which it will ask its shareholders to consider and, if thought fit, adopt a special resolution approving a proposed plan of arrangement with Ram Power, Corp. The special resolution approving the proposed plan of arrangement must be approved by at least sixty six and two thirds percent of the votes cast by shareholders represented in person or by proxy at the special meeting.

Sierra's Board of Directors and management strongly encourage shareholders to vote at the special meeting. Detailed information concerning the plan of arrangement and how to vote at the special meeting of shareholders is contained in the shareholder meeting materials mailed by Sierra to its shareholders on or about August 5, 2010. A copy of these meeting materials is available on SEDAR 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 120,000 acre portfolio of geothermal properties in Nevada, California and British Columbia. Sierra's projects have a combined total estimated capacity of almost 400MW.

On behalf of the Board of Directors

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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