Borealis GeoPower Inc.

Canadian Geothermal Resource Assessment Code

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Borealis GeoPower’s Dr. Daniel Yang is currently on the CanGEA Geothermal Reporting and Reserves Committee which has recently released the “The Canadian Geothermal Code for Public Reporting.” The committee was established in December of 2008 to develop the code, which provides a minimum set of requirements for the public reporting of Exploration Results, Geothermal Resources and Geothermal Reserves code for public reporting of geothermal resources and reserves.

The Canadian Code provides a basis for transparency, consistency and confidence in public reporting of geothermal information with the following primary objectives:

    1)  Provide a reporting basis that is satisfactory to investors, shareholders and capital markets such as the Canadian Securities Exchanges, in a similar manner that existing Canadian Codes provide for reporting of mineral and petroleum resources (National Instruments 43-101 and 51-101, respectively). 2)  Be applicable to geothermal plays in both Canada and internationally since the Canadian Securities Markets are utilized for the exploration and development of both local and international geothermal plays for companies based in Canada and other jurisdictions.

Although the Draft Code is a work in progress and will stay in draft form during its initial implementation, Dr. Daniel Yang & Borealis GeoPower are pleased to be part of such visionary project for geothermal development in Canada and internationally. A special thanks goes out to Committee Chair Lee Deibert with Meridian Environmental and the rest of the committee members, including Subir Sanyal (Geothermex Inc.), Alison Thompson (CanGEA), Ian McDonald (Nexen Inc.), John McIlveen (Jacob & Company Securities Inc.)  and AGEA (Australian Geothermal Energy Association) for all their time and energy to make this project a reality. 

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