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Borealis Motor Limited Announces New Electric Motor Test Results

14 April 1999

Borealis Motor Manufacturing Limited Announces New Electric Motor Test Results

    PORTLAND, Ore.--April 13, 1999--Borealis Motor Manufacturing Limited, an indirect majority-owned subsidiary of Borealis Exploration Limited , announces that preliminary results for the Borealis Chorus Motor(TM) show significant improvements in performance over comparable electric motors.
    The new Borealis Chorus Motor(TM) provides the torque benefits associated with high-quality DC motors, but with the reliability, efficiency, weight and cost advantages of AC motors.
    A test model, built on a 10 hp, 2 pole, 215T frame, has shown locked rotor torque in excess of 150 lb ft in testing, nearly 250% of the locked rotor torque expected from a machine of this size. Locked rotor torque tests simulate the start-up torque required for traction motors.
    Borealis COO Isaiah Cox said, "The Borealis Chorus Motor(TM) represents a significant advance in motor design which will be of particular benefit for traction motors in elevators, cranes, locomotives, fork-lift trucks, and in the development of a very low emission passenger car. (LEV)"
    Final test results are expected by Summer 1999. The interim results are from an initial Alpha prototype. An improved Beta prototype is under construction.
    The Borealis Chorus Motor(TM) technology is protected by allowed and pending patents.
    Prototypes of the Borealis Chorus Motor(TM), including control parameters and dynamometer testing, are being developed and performed at NORCAT by Electro Windings Ltd. in conjunction with Borealis.
    Electro Windings Ltd. is an electric motor company based in Sudbury, Ontario. Electro Windings Ltd. has been working with Borealis on the development of the Chorus Motor(TM).
    NORCAT, the Northern Center for Advanced Technology, is a research and development facility in Sudbury, Ontario with a wide range of industrial and governmental clients.
    The development of the Borealis Chorus Motor(TM) has also been supported by Canada's IRAP, the Industrial Research Assistance Program.
    Borealis legal staff has determined that this press release is required in order to properly comport with our disclosure obligations under U.S., Ontario and Gibraltar securities disclosure requirements.
    Borealis Exploration Limited has 4,986,000 shares outstanding.

    Disclaimer: Standard Forward-Looking Borealis Disclaimer, found at www.borealis.com