Sierra Geothermal Power Corp. (TSX VENTURE:SRA) ("SGP") today provides an update
on the exploration drilling program at its 100% owned Silver Peak project.


Today, SGP commenced drilling of a core-slim-well at its Silver Peak project.
Well 38-11 is being drilled to a maximum depth of 2,133 metres or 7,000 feet and
targets multiple zones of high geologic interest. Well 38-11 will be the first
deep well test at Silver Peak. This well follows SGP's recent shallow
temperature gradient drilling and geophysical surveys. Well 38-11 is funded on a
50:50 cost share basis by the U.S. Department of Energy's Geothermal
Technologies Program grant which was awarded to SGP in 2009.


SGP has contracted Major Drilling Group International Inc. to drill the well
with an LF230 mounted core drill rig. Drilling is supervised by senior geologist
Mr. John Deymonaz. Core samples are being collected from the top of competent
bedrock to the bottom of the hole to provide geological information on
subsurface rock types, faults, and fractures. This information will be
integrated into SGP's 3D geologic model for Silver Peak. The primary objective
of the well is to test temperature and permeability in the subsurface. A
secondary objective is to compare core drilling rates to conventional and
coil-tube rig drilling rates.


"This a great step forward in the advancement of the Silver Peak project. Our
plan here is to drill a coil tube slim well next and, pending results, drill the
first production assessment well. If successful, we can then continue drilling
production wells to feasibility, execute a Power Purchase Agreement and secure
plant permits," said President and CEO Gary Thompson.


About Silver Peak

The Silver Peak geothermal power project is part of SGP's Paymaster district and
located in Esmeralda County, Nevada, 240 kilometres (150 miles) northwest of Las
Vegas, and covers 7,873 acres. GeothermEx's independent analysis estimates a
resource capacity of 15-40 MW of power. The Silver Peak property has two 55 kV
transmission lines connecting to the Nevada and California power grids and a
substation located on the lease itself. Many geothermal features are visible on
the property. The recent shallow drilling measured a maximum temperature of 88
degrees Celsius or 190 degrees Fahrenheit at a depth of 140 meters or 459 feet.
Chemical geothermometers that have been applied to the thermal waters suggest
that temperatures may reach 200-230 degrees Celsius (400-440 degrees Fahrenheit)
at depth.


About Sierra Geothermal Power Corp.

Sierra Geothermal Power Corp. is a renewable energy company focused on the
exploration and development of clean, sustainable geothermal power. It is based
in Vancouver, British Columbia and listed on the TSX Venture Exchange under the
symbol SRA. Its portfolio of geothermal projects located in Nevada and
California exceeds 365 square kilometres (90,000 acres) and has a combined total
estimated capacity of greater than 500 MW. SGP intends to finance development by
utilizing a combination of corporate equity, joint venture partnerships and
project debt, with the support of US government grants and loan guarantees. To
find out more about Sierra Geothermal Power Corp. (TSX-V: SRA) visit our website
at www.sierrageopower.com.


On behalf of the Board of Directors

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements. Forward-looking
statements are projections of events, revenues, income, future economic
performance or management's plans and objectives for future operations. In some
cases you can identify forward-looking statements by the use of terminology such
as "may", "should", "anticipates", "believes", "expects", "intends",
"forecasts", "plans", "future", "strategy", or words of similar meaning.
Forward-looking statements in this press release include statements about Well
38-11 being the first deep well test at Silver Peak, plan is to drill a coil
tube slim well next and, pending results, drill the first production assessment
well, If successful, we can then continue drilling production wells to
feasibility, execute a Power Purchase Agreement and secure plant permits, and
the Company's intent to finance the development of its projects through a
combination of corporate equity, joint venture partnerships and project debt
with the support of U.S. government grants and loan guarantees. These statements
are only predictions and involve known and unknown risks, uncertainties and
other factors, including the risks inherent in our industry, the challenging
capital markets and other risks identified by us in our periodic filings on
SEDAR (which can be viewed at www.sedar.com). Any of these risks could cause our
or our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements.


While these forward-looking statements and any assumptions upon which they are
based are made in good faith and reflect our current judgment regarding the
direction of its business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or other
future performance suggested in this press release. Except as required by
applicable law, including the securities laws of Canada, we do not intend to
update any of the forward-looking statements to conform these statements to
actual results.


Stria Lithium (TSXV:SRA)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Stria Lithium Charts.
Stria Lithium (TSXV:SRA)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Stria Lithium Charts.