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Magma Debuts in Fourth Position on the 3rd Annual Corporate Knights Cleantech 10

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^{Published in Stocks and Investing on Monday, October 26th 2009 at 6:35 GMT by Market Wire}  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) - Magma Energy Corp. (TSX:MXY) Magma is pleased to announce that it has debuted in the number four position on the 3rd Annual Cleantech 10 list as compiled by Corporate Knights, an independent Canadian-based media company focused on prompting and reinforcing sustainable development. The Cleantech 10 represents Corporate Knights opinion of Canada's best publicly and privately held companies in the Cleantech industry, spanning a range of sectors in the emerging green economy.

Alison Thompson, Magma Energy's Vice President, Corporate Relations, speaking in Toronto at the awards ceremony commented, "On behalf of all my colleagues at Magma, we are pleased to receive this recognition. Magma's vision is to be the pre-eminent geothermal company in the world and this ranking will further our ability to meet that goal."

About Magma Energy Corp.

Magma Energy Corp. is a geothermal power company which is actively engaged in operating, developing, exploring and acquiring geothermal energy projects. We currently have one operating power generation plant (the Soda Lake Operation in Nevada), and an extensive portfolio of exploration properties throughout the western United States, Chile, Argentina and Peru.