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Cool Chips, Power Chips Press Release Dated August 18, 2000



Cool Chips plc, Power Chips plc, Gibraltar
18th August 2000

Refers to Borealis Exploration Limited CDN: BSXC; USD:BOREF


Cool Chips plc and Power Chips plc, subsidiaries of Borealis Exploration Limited, which hold exclusive worldwide rights to the Cool Chip™ and the Power Chip™ technologies, announce that a patent, titled "Low Work Function Electrode", No. 6,103,298, was issued by the US Patent Office on August 15th, 2000.

Low work function electrodes are essential components of the Power Chip ™ and Cool Chip ™ products. These proprietary technologies enable electrons to be emitted across a tiny vacuum gap. In the case of the Power Chip ™ product, heat is converted to electricity, and in the Cool Chip ™ product, electricity is used to pump heat.

Applications for low work function electrode technologies range across many industrial processes, including heat management and power generation in electric and hybrid electric vehicles, defense and space applications, as well as domestic applications such as air conditioning, refrigeration and the cooling of computer components.

"Low work function technologies are at the heart of our development programme", says Borealis President Isaiah Cox. "These are the components which will drive the technologies of the 21st Century -- the nuts and bolts with which to build the future."

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

Cool Chips plc and Power Chips plc 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 http://www.borealis.com/fwdlook.shtml

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