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BOREALIS ANNOUNCES SOLAR THERMIONIC POWER CHIP Dated 28 October 1999

Borealis Technical Limited, Gibraltar 28th October 1999

BOREALIS ANNOUNCES SOLAR THERMIONIC POWER CHIP

A thermionic Power Chip(tm) which works entirely from solar energy has been patented by research and development specialists Borealis Technical Limited.

The patent, titled "Method and Apparatus for Photoelectric Generation of Electricity" 5,973,259 was issued by the US Patent Office on October 26th 1999.

The patent covers a technology for generating electricity using a solar cell comprising two closely spaced electrodes separated by a vacuum. Unlike conventional photoelectric cells, the Borealis solar Power Chip(tm) does not have to concentrate light to work, and can generate electricity efficiently at ambient temperatures. As the solar energy warms the chip, so thermionic emission of electrons also contributes to the power generated, adding to the efficiency of the device.

"Solar Power Chips(tm) are a major advance in the provision of clean energy from renewable sources" says Borealis President Isaiah Cox. "This technology can be mass-produced using existing engineering techniques at a very low cost."

The full text of the patent, and other material relating to Borealis Power Chips(tm) can be downloaded from the Borealis web site at http://www.borealis.com.

Borealis Technical Limited is a subsidiary of Borealis Exploration Limited (US NASD: BOREF; Canada OTC: BSXC). Borealis Exploration Limited has 5,000,000 shares outstanding.

For further information please contact:

Chris Bourne

Director of Public Relations Tel: +44 181 571 5216 Fax: +44 181 455 8701 http://www.borealis.com email: pr@borealis.com

Disclaimer: The discussion of the Company's business and operations in this report includes in several instances forward-looking statements, which are based upon management's good faith assumptions relating to the financial, market, operating and other relevant environments that will exist and affect the Company's business and operations in the future. No assurance can be made that the assumptions upon which management based its forward-looking statements will prove to be correct, or that the Company's business and operations will not be affected in any substantial manner by other factors not currently foreseeable by management or beyond the Company's control. All forward-looking statements involve risks and uncertainty. Borealis legal staff has determined that this press release is required to properly comport with our disclosure obligations under US, Canadian and Gibraltarian securities disclosure requirements.


Last Updated on Thursday, February 22, 2001.


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