CanGEA Chair and Founder, Alison Thompson Recipient of the CIRI Belle
Mulligan Award for Leadership in Investor Relations

CALGARY, June 21 /CNW/ - The Canadian Geothermal Energy Association (CanGEA) is pleased to announce that CanGEA Chair and Founder, Alison Thompson has been honoured as the 1st recipient of the Belle Mulligan Award for Leadership in Investor Relations. Alison received this reward Tuesday June 15th at the Canadian Investor Relations Institute's (CIRI's) 23rd Annual Investor Relations Conference in Ottawa, Ontario.

Belle Mulligan Award for Leadership in Investor Relations

The Belle Mulligan Award for Leadership in Investor Relations is given by CIRI in honour of the late Belle Mulligan to recognize individuals who have shown singular leadership in one or more aspects of the practice of investor relations.

Alison Thompson is the first recipient of this prestigious Award based on her leadership through her involvement in developing the Canadian Geothermal Code for Public Reporting and through her efforts in the application of this Code, making Magma Energy Corp. the world's first Canadian Code-compliant publicly traded geothermal energy company. "There are many people to thank today as one cannot win a Leadership award without a cause to champion and a team to work with," said Alison. "I would like to thank the CanGEA team and its members for their forward thinking stance on what the Geothermal Reporting Code means for investor relations; my colleagues at Magma Energy for their extensive use of a voluntary Geothermal Reporting Code - leading by example and acting as a lighthouse for the industry; the investment community and especially the research analysts who have been early adopters of using the Code to report on geothermal companies."

"Alison's excellent work and leadership with respect to the Geothermal Code for Public Reporting has set the bar appropriately high for this award." said Tom Enright, CIRI President & CEO.

CanGEA's Canadian Geothermal Code for Public Reporting was launched in January 2010 and has been embraced by CanGEA developers Magma Energy Corp., Sierra Geothermal Power Corp. Borealis Geothermal and Caldera Geothermal. The Reporting Code provides a minimum set of requirements for the public reporting of Exploration Results, Geothermal Resources and Geothermal Reserves. The Code provides a basis for transparency, consistency and confidence in the public reporting of geothermal information. The Code, a first in Canada, will serve to increase investor confidence and interest in the geothermal energy sector through the standardization of geothermal reporting. The use of the Code will be on a voluntary compliance basis (industry self-regulation) until 2011 when Code compliance will be a mandatory requirement for CanGEA membership.

Through the Canadian Geothermal Code Committee (CGCC) there is a listing of Qualified Persons on the CanGEA website that has been certified as "Qualified Persons" under the Geothermal Code for Public Reporting. Public reporting is the responsibility of the company and the preparation of the reports must be undertaken by a Qualified Person as certified under the Geothermal Code for Public Reporting. Further information can be found online at www.cangea.ca A workshop to learn more about the Geothermal Code will be held in conjunction with CanGEA's Third Annual Geothermal Energy Conference and Trade Show August 8-10th in Vancouver BC. www.cangea.ca/events

About CIRI:

CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI is dedicated to advancing the stature and credibility of the investor relations profession and the competency of its members. With 600 members, CIRI is the world's second largest society of investor relations professionals. For further information, please visit ciri.org.

About CanGEA:

CanGEA is a national industry association that believes we can provide competitively priced, emissions free, renewable, base-load energy to Canadians and to U.S. export markets. CanGEA works on behalf of our members to facilitate the growth of geothermal power projects and promote publicly listed companies on the Canadian Exchanges.

For further information: Nicole Robson - [email protected], Marketing and Membership Director, The Canadian Geothermal Energy Association