Company Information

• US Geothermal Inc.• Founded in Idaho and based in Boise• Publicly traded on TSX Venture Exchange - GTH

and OTCBB - UGTH

Management Team

• Daniel Kunz –President, CEO & Director • Doug Glaspey - COO & Director • Kevin Kitz - VP Project Development • Robert Cline – VP Engineering• Kerry Hawkley – CFO & Secretary

Raft River Location

Raft River Project

• US Department of Energy site from l975-l983• $40 million was spent by DOE on a 7 megawatt

binary cycle demonstration power plant.• Acquired by USGEO June 2002.• Own 660 acres and have a total of 4,417 acres (7.9

square miles) under lease.

Why Geothermal Power?

• Clean, safe, emission free • 100 MW eliminates 560,000 tons greenhouse gases

annually

• Highest rate of production (MWH) to capacity (MW) of any type of power plant

• Generates continuous power • Only alternative energy capable of “baseload” power

• Renewable and Sustainable• Does not consume wasting commodity • Re-injection of spent fluid

• Plants can operate at over 98% availability

• Geothermal Wells• 5 production wells, 2 injection wells, 7 monitoring wells

• Office/control room building, shop building, 15 ton crane, wellfield power grid, 300K gallon water tank, warehouse, maintenance offices

• Adjacent to BPA’s 138 KV transmission line • 120 MW total capacity and 60MW of available capacity

• Year round access via state highway, county road

Raft River Infrastructure

Office/Shop Complex – Office/Shop Complex – Raft River Mt. Range in BackgroundRaft River Mt. Range in BackgroundOffice/Shop Complex – Office/Shop Complex – Raft River Mt. Range in BackgroundRaft River Mt. Range in Background

• Phase 1 10-12 MW to begin construction 2006

using Ormat binary cycle energy converters.• Phase 2 additional 10-20 MW, construction 2007• Additional phases will need additional permitting• 123 MW proven geothermal energy reserves and

resources estimated for 7.9 square miles.

Raft River Proposed Development

Workover Rig on RRG-1

Pump in RRG-2

Stinger

Placing Stinger in RRG-2

Flow Test – RRG-5 June 2004

Geothermal Reservoir – Cross Section

Well Temperature Profiles

Raft River Reservoir Model

12 MW Soda Lake, Nevada

30 MW Steamboat Springs, Reno, Nevada

Clean Power From the Earth