PROVO, UT, March 25, 2009 — Raser Technologies, Inc.  and Copper King Mining Corporation (Pink Sheets: CPRK) announced today that they have entered into a geothermal lease agreement covering interests in certain private, state and federal lands in southwestern Utah. The terms of the lease agreement were not specified.

The lease covers properties in Copper King’s mining holdings totaling approximately 75,000 acres in various locations throughout Utah. The bulk of the properties are located in Beaver County, Utah, approximately 20 miles north of Raser’s Thermo No. 1 geothermal project, and west of the long-running Blundell geothermal power plant near Milford, Utah.  The Copper King properties demonstrate many of the key factors considered by Raser in preliminary evaluation of geothermal resources.

“With this lease, Raser continues to expand its holdings in this geothermally active part of the State,” stated Richard Clayton, Raser’s Executive Vice President.  ”We are pleased to be working with Copper King and obtaining access to their extensive land portfolio and geological data on their large land holdings. We look forward to working closely with Copper King to develop the full geothermal potential of their land holdings.”

Copper King CEO, Mark Dotson commented: “Since Copper King is a mining and mineral exploration company, we felt it was wise to let Raser explore our lands for the geothermal resources that we believe may be present. Copper King believes that Raser is a cutting edge company and we are excited to work with them.”

About Raser Technologies

Raser is an environmental Energy Technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser’s Symetron^TM technology developed internally by its Transportation and Industrial segment. Raser’s Transportation & Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron^TM technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding: our beliefs about preliminary drilling results; our beliefs about the potential for geothermal power generation on our leased properties; our belief about our ability to exploit the available geothermal resources; our beliefs about the strength and enforceability of our agreements; our beliefs about our ability to successfully negotiate power purchase agreements; and our beliefs about the geothermal market generally. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology for geothermal applications; our ability to secure necessary permits; the strength of our intellectual property; our ability to attract, train and retain key personnel; and such other risks as identified in our quarterly report on Form 10-K for the year ended December 31, 2008, as filed with the Securities and Exchange Commission, and all subsequent filings.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Raser Technologies, Inc.

Richard Putnam

Investor Relations

(801) 765-1200

investorrelations@rasertech.com

Hayden Communications, Inc

Cameron Donahue

(651) 653-1854

cameron@haydenir.com

Public Relations contact: Stern & Co.

Richard Stern

212 888-0044

richstern@sternco.com

Alison Simard

323-650-7117

arsimard@sternco.com