LAKELSE LAKE PROJECT: PRE-FEASIBILITY STUDY COMPLETED

Borealis GeoPower Inc. announces that Kitselas Geothermal Inc. (a partnership between Borealis GeoPower and Kitselas Development Corp.) has completed a pre-feasibility study for their concession at Lakelse Lake, BC, approximately 10km South of Terrace, BC. Subsurface temperatures, based on available geothermometry, have been estimated to exceed 150° Centigrade at a depth of approximately 2,000m. The reservoir area has been estimated to be approximately 15km2 with an average thickness of 500m.
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These results indicate 5,300 petajoules ("PJ") of thermal energy in place may exist, relative to 15°C, that is estimated to be capable of yielding at least 23 MWe of continuous electrical power over a 30-year span. Minimum subsurface information data are available. A continued surface exploration program and confirmation drilling plan that consists of drilling to a depth of no more than 2km, are anticipated.

It should be noted that this geothermal system can be considered an “Inferred Geothermal Resource” in accordance with The Canadian Geothermal Reporting Code for Public Reporting (CanGEA, 2010) ("Code").
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The successful wells are intended to energize Kitselas Development Inc.’s greenhouse project – a geothermal heated commercial operation that will fuel the Kitselas First Nation and surrounding communities with fossil fuel free food.

​The resource estimate has been prepared in accordance with the Code.  The pre-feasibility report was prepared by Warren T. Dewhurst of the Dewhurst Group, LLC (DG) who is responsible for its content. Dr. Dewhurst, the founder of DG, is a "Qualified Person" under the Code. He is both a member and serves on the Board of Directors for both Geothermal Resources Council and the Geothermal Energy Association.