Borealis Exploration Limited Announces Departure of Officer and Engagement of New Officer

Gibraltar - 12 April 2016 - Borealis Exploration Limited (“Borealis”) hereby announces that effective today Dr. Hans Walitzky is no longer chief development officer of Power Chips plc or working for or otherwise affiliated with any company in the Borealis family of companies, including, but not limited to, Avto Metals plc or Cool Chips plc. Borealis has engaged Dr. Michael Hinton as Executive Scientist on a consulting basis to perform the research and services formerly performed by Dr. Walitzky. A copy of Mr. Hinton's curriculum vitae is available on www.borealis.gi.

Borealis Exploration Limited

By: /s/ Dr. Rodney T. Cox

Name: Rodney T. Cox

Title: Chief Executive Officer