BOISE, IDAHO--(Marketwired - Nov 13, 2014) - U.S. Geothermal Inc. (GTH.TO)(NYSE MKT:HTM)

U.S. Geothermal Inc. (the "Company") (TSX:GTH)(NYSE MKT:HTM), a leading renewable energy company focused on the development, production, and sale of electricity from geothermal energy, announced today its financial and operating results for the first 9 months ending September 30, 2014 (the "First Nine Months"), and provided updated guidance for 2014 and 2015. This earnings release should be read in conjunction with U.S. Geothermal's Third Quarter financial statement, which is available on the Company's website at www.usgeothermal.com and has been posted on SEDAR at www.sedar.com and at the U.S. Securities and Exchange Commission website at www.sec.gov.

Revenue for the First Nine Months of 2014 was $21.08 million, compared to $17.82 million for the prior year period. EBITDA for the First Nine Months of 2014 was $9.69 million, compared to $7.92 million in the prior year period. Net Income for the First Nine Months was $1.93 million, compared to $0.45 million in the prior year period. Net Income attributable to U.S. Geothermal for the First Nine Months of 2014 was $0.27 million, or $0.00 per share, compared to ($0.02) million, or ($0.00) per share, in the prior year period.

"Our operations team continues to do an outstanding job of maximizing production from all of our facilities by maintaining unit availability percentages in the high 90's. Total generation from all our units for the first nine months of 2014 is up 14% over the prior year period", said Dennis Gilles, Chief Executive Officer of U.S. Geothermal. "Revenues for the first nine months of 2014 are up 18% over the first nine months of 2013. EBITDA for that same period has risen approximately 22% over the prior year period, and our Net Income for that period has risen approximately 329% over the prior year period. We are very pleased with these excellent results. As we move into the cooler months typically associated with higher generation, we wish to update our 2014 full-year guidance with Revenue projections of $29 to $31 million, EBITDA estimates of $14 to $16 million, and EBITDA (adjusted) estimates of $16 to $18 million. For 2015 full-year guidance we are providing Revenue estimates of $28 to $33 million, EBITDA estimates of $12 to $16 million, and EBITDA (adjusted) estimates of $15 to $19 million."

U.S. Geothermal Inc. will host a telephone conference call for investors and analysts on Friday, November 14^th, 2014 at 11:00 a.m. ET (9:00 a.m. MT) to discuss their 2014 3^rd Quarter Financials (July 1^st - September 30^th, 2014), which will be filed after the Market Close on Thursday November 13^th, 2014.

The conference call may be accessed by dialing (877) 407-8133 in the United States or Canada, or (201) 689-8040 internationally. A simultaneous webcast of the conference call will be provided through: http://www.investorcalendar.com/IC/CEPage.asp?ID=173302

Recent Achievements:

• Generated fleet wide total of 69,004 megawatt-hours in the third quarter of 2014, yielding a total fleet wide generation for the first nine months of 2014 of 242,276 megawatt-hours compared to 213,184 megawatt-hours for the prior year period
• Delivered third quarter average availabilities of: Neal Hot Springs - 99.1%, San Emidio - 96.1%, Raft River - 99.7%
• Completed drilling of wells OW-14 and OW-15 for San Emidio II plant expansion
• Completed construction of new San Emidio I to II pipeline and connected it to well 61-21 (OW-10), installed a production pump, and began long term flow testing the well to San Emidio I plant
• Initiated drilling of resource confirmation well 18-10A at the Gerlach project in Gerlach, Nevada
• Finalized negotiations and signed agreement to acquire Earth Power Resources company
• Executed a new lease agreement for 80 acres of surface property, which brings the total to 97 acres of surface under lease, and constructed the EC-2 well drill pad at El Ceibillo

Additional accomplishments can be found in the October 23, 2014 third quarter project update press release at the following link: http://www.usgeothermal.com/News.aspx

The below table summarizes revenues for the past 7 quarters, and reflects the seasonal variability by quarter of our generation and corresponding revenues, as well as the year over year comparison of revenues for the first 3 quarters of each year.

"Our evaluation of potential M&A targets remains very active," said Dennis Gilles. "Since the end of the second quarter of 2014 we have signed the agreement to acquire Earth Power Resources, signed the final lease agreements for the expansion of our land position at El Ceibillo in Guatemala, and have numerous other targets in active due diligence. We are optimistic that we will continue to find attractive growth opportunities for the Company."

Reconciliation of EBITDA:

EBITDA is calculated as net income before interest, income taxes, depreciation and amortization, and is not a measurement of financial performance or liquidity under generally accepted accounting principles in the United States. EBITDA is presented as a metric commonly used by securities analysts, investors and other interested parties in the evaluation of a company's ability to service and/or incur debt.

EBITDA (Adjusted) reflects EBITDA adjusted to exclude discretionary exploration costs and non-cash stock compensation as well as the value assigned to stock options granted.

About U.S. Geothermal Inc.:

U.S. Geothermal Inc. is a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy and is operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho. The company is currently developing projects at: the Geysers, California; a second phase project at San Emidio, Nevada; El Ceibillo, near Guatemala City, Guatemala; Gerlach, Nevada; Crescent Valley, Nevada; and Vale, Oregon.

The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Readers are cautioned to review the risk factors identified by the company in its filings with US and Canadian securities agencies. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of U.S. Geothermal, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; interpretation of the results of well tests; project development; resource megawatt capacity; capital expenditures; timelines; strategic plans; or other statements that are not statements of fact. Forward-looking statements 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. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the availability of financing in the debt and capital markets; uncertainties involved in the interpretation of results of well tests; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks of construction; unexpected cost increases, which could include significant increases in estimated capital and operating costs; and other risks and uncertainties disclosed in U.S. Geothermal's Annual Report on Form 10-K for the year ended December 31, 2013 filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and in other U.S. Geothermal reports and documents filed with applicable securities regulatory authorities from time to time. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.

The NYSE MKT and the TSX do not accept responsibility for the adequacy of this release.