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Cool Chips Press Release Dated July 20, 2000


refers to Borealis Exploration Limited (US NASD: BOREF; Canada OTC: BSXC)

Cool Chips Limited, Gibraltar
20th July 2000


Technology development specialist Borealis Technical Limited announces that a patent, titled "Method and Apparatus for Vacuum Diode Heat Pump" No. 6,089,311 was issued by the US Patent Office on July 18th, 2000.

One aspect of the patent shows how heat may be carried from one side of a vacuum diode to the other by applying an electric current. Electrons are emitted across a tiny vacuum gap, and carry with them heat in the form of kinetic energy, which is dissipated at the other side of the gap.

The resulting heat pump promises to be more efficient than conventional cooling methods, and scalable over a wide range of applications, including conventional refrigerators, aerospace and defense applications, and the cooling of computer chips.

Cool Chips™ provide a credible alternative to conventional technologies" says President Isaiah Cox. "We expect this technology to make substantial inroads into the current market, especially where issues of toxic emissions are involved. Cool Chips™ are electronic devices with no chemical emissions or contamination at all."

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

Borealis Technical Limited, Cool Chips Limited and Power Chips Limited are subsidiaries of Borealis Exploration Limited (US NASD: BOREF; Canada OTC: BSXC). Borealis Exploration Limited has 5,000,000 shares outstanding. Borealis' business is reinventing the core technologies used by basic industries, including electric motors, steelmaking, electrical power generation, and cooling and refrigeration.

For further information please contact:

Chris Bourne
Director of Public Relations
Tel: +44 20 8571 5216
Fax: +44 20 855 8701
email: pr@borealis.com

Disclaimer: The disclaimer can be found at www.borealis.com/fwdlook.shtml

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