Sirius Exploration Plc - AIM:SXX, OTC:SRUXY (”Sirius Exploration” or “the Company”): Co2 Energy Storage - Technical Report

LONDON - Further to the announcement of 13 October 2009 announcing inter alia the acquisition of Co2 Energy Storage Pty Ltd, the Directors of Sirius Exploration Plc (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused on North America and Australia, are pleased to announce the findings of a technical report conducted by UniQuest Limited of Queensland, Australia for Co2 Energy Storage Pty into the feasibility of using compressed carbon dioxide (Co2) within underground salt caverns to create energy storage facilities for the production of electricity. Uniquest Limited are the contract research arm of the University of Queensland and operate using the University’s staff and facilities.

In previous releases and presentations Sirius has described the use of Compressed Air Energy Storage (”CAES”) as a means of storing electricity. This can be used for peak load demand and can also be used as an environmentally friendly method of storing wind generated electricity for use when power is actually required as distinct from just when the wind is blowing.

The research described here investigates a scenario whereby Co2 will be used in place of compressed air. Initially the Co2 would be sequestered and compressed into a salt cavern. There is then a closed loop process whereby the Co2 is bled off into storage caverns to provide power and recompressed to provide energy storage. In this process the Co2 is not only removed from the atmosphere but it is then used to provide ongoing power generation and storage.

The modelling was done using MATLAB programming. The research team analysed two scenarios using a cavern 50 metres in diameter, 100 metres deep and located at 1500 metres below ground. In the first scenario a power recovery ratio of 69% was calculated with an overall energy efficiency ratio of 18.6% due to requirements of cooling for the compressors and heating for the turbines. In a supplemental scenario a power recovery ratio of 65% was identified with an overall energy efficiency of 12.1%. Whilst the power recovery ratio was slightly lower in the second scenario, it only required two additional caverns to allow the discharged gas to be bled into after the compressed Co2 from the main storage cavern had been re-released through the turbine to generate electricity. In the first scenario, multiple caverns would be required.

The report also confirms that it is logical that the technology would qualify for Renewable Energy Certificates.

Richard Poulden, the Chairman of Sirius, commented:

“We are greatly encouraged by the findings of this first report as it confirms from a technical perspective the possibility of being able to use Co2 - as opposed to Compressed Air for which the technical case has already been proven - as a medium for storing energy and subsequently driving electricity generating turbines. Through this approach, we are potentially looking at a technology that can transform harmful emissions into clean energy and provide an important support mechanism to utility and energy companies.

“Through our subsidiary, Co2 Energy Storage, we will continue our R&D into this area and begin building the economic model for Carbon Dioxide Energy Storage (CDES) facilities for potential use, where appropriate, on our properties. As such, this activityis part of our strategy to build a range of complementary solutions for extending the commercial life of our salt properties once the mining phase has been completed.”

About Sirius

Sirius is quoted on the AIM market of the London Stock Exchange in London and its shares are also traded in North America through the use of an ADR facility. Sirius currently has interests in potash and salt caverns through its subsidiaries Dakota Salts LLC and AusPotash Limited. It also has copper and gold interests in Macedonia and a royalty interest in a tungsten mine in China. For more information, visit www.siriusexploration.com

Source: Sirius Exploration Plc

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