Polaris Geothermal-Production Drilling Progress

Polaris Geothermal Inc. (“Polaris” or the “Company”) (TSX: GEO), a renewable energy geothermal power producer, is pleased to announce the completion of its well SJ9-2, at its San Jacinto – Tizate Geothermal Project in Nicaragua.

This is the second of two new production wells that have been drilled from pad SJ-9. With the completion of this well, the drilling rig will be moved to a different pad (SJ-10) to commence drilling an injection well. Once the rig is clear of the pad, in about 10 days’ time, well production testing will commence with SJ9-1 and then with SJ9-2. Preliminary results from SJ9-1 are expected to be available by the end of February and for SJ9-2 by mid-March.

Polaris’ current drilling program is aimed at developing production and injection capacity for its 24 MW, Phase I MCT expansion of the San Jacinto project which will raise production capacity to 34 MW.

FORWARD-LOOKING STATEMENTS

This press release includes certain “forward-looking statements”. Statements respecting the development of the San Jacinto-Tizate geothermal project, including its ability to successfully complete the drilling of new production wells to expand production capacity to 34 MW and to accomplish such drilling within stated schedules, 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 any forward-looking statements.

 Contacts: Polaris Geothermal Inc. John Clark Director/CFO (416) 367-0150 Email: john@itmcorp.ca  Polaris Geothermal Inc. Thomas Vukovich Director (416) 367-0150 Email: vukitm@gmail.com  Polaris Geothermal Inc. Jared Scharf Inquiries (416) 367-0150 Email: jared@itmcorp.ca Website: www.polarisgeothermal.com

SOURCE: Polaris Geothermal Inc.