NR with proceeds...on there way !

VANCOUVER, B.C., CANADA, July 14, 2009 - Magma Energy Corp. (TSX: MXY) ("Magma") today acquired seven new properties at an auction by the Bureau of Land Management of geothermal leases on U.S. federal government lands in Nevada. The leases comprise approximately 67,950 acres and were acquired for a total cost of US$2,559,000. Three of these leases, comprising approximately 13,200 acres, are located adjacent to our Soda Lake operation and one lease, comprising approximately 3,600 acres, is located adjacent to our McCoy advanced exploration property. These leases enable Magma to explore for and develop geothermal resources for a primary term of ten years, subject to minimal annual rentals. If commercial geothermal resources are developed the leases continue indefinitely.