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Borealis Press Release Dated 4 June 2001

BOREALIS ANNOUNCES THERMIONIC AND PHOTO-ELECTRIC PATENTS

Borealis Technical Limited, Gibraltar
4th June 2001

Borealis Technical Limited, a subsidiary of Borealis Exploration Limited (BOREF) announces that a patent, titled “Thermionic Generator”, No. 6,229,083, was issued by the United States Patent and Trademark Office on May 8th, 2001. Further patent applications related to Borealis' proprietary thermionic and photoelectric technologies are pending.

The Thermionic Generator or Power Chip ™ is a solid-state device that uses small sandwich-like wafers to generate electricity from a temperature differential. The technology is closely related to Borealis proprietary Cool Chips™ technology which is currently under evaluation by the Boeing Company (BA) as announced on May 25th 2001 ( http://www.borealis.com/investor/pr_010525.shtml )

“This technology offers enormous benefits to industry and consumers alike” says Borealis President Isaiah Cox. “Power Chips ™ are a genuine solution to the problems of conventional technologies that simply cannot keep up with the demands of modern consumers.”

Borealis also announces a further patent, titled “Process for Stampable Photoelectric Generator”, No. 6,239,356, was issued by the United States Patent and Trademark Office on May 29th, 2001. Further patent applications related to Borealis‘ proprietary photoelectric and thermionic technologies are pending.

The patent describes a process whereby Photon Chips ™ may be manufactured by stamping cells from a sheet of material coated with a photoelectrically emissive material. This gives an economic and simple means of mass-producing cells for a solar power generator, analogous to the process used for pressing optical discs such as CDs.

“Photon Chips ™ offer an inexpensive alternative to conventional solar energy generators. This patent extends our portfolio in this exciting area,” said Chris Bourne, PR spokesperson for Photon Power plc, which is developing the technology.

The full text of the above patents, and all patents in the Borealis family‘s extensive portfolio, can be found at our web site www.borealis.com .

Borealis Technical Limited, Cool Chips plc, Power Chips plc and Photon Power plc are majority-owned subsidiaries of Borealis Exploration Limited (BOREF: www.pinksheets.com ). Borealis Exploration Limited has 5,000,000 shares outstanding.

For further information please contact:

Chris Bourne
Director of Public Relations
Tel: +44 20 8571 5216
Fax: +44 20 8455 8701
http://www.borealis.com
 email: pr@borealis.com

Disclaimer: The disclaimer can be found at http://www.borealis.com/ForwardLookingStatement.htm


Last Updated on June 4, 2001.


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