Earth Search Sciences Inc. Announces Appointment of President for New Subsidiary Company, Geo-Probe, Inc.
KALISPELL, Mont.–(BUSINESS WIRE)–March 1, 2005–Earth Search Sciences, Inc. (OTCBB:ESSE – News) a leading commercial provider of hyperspectral remote sensing technology, today announced the appointment of Dave Stevens as the President of Geo-Probe Inc. Geo-Probe, Inc., a wholly-owned subsidiary company of Earth Search Sciences Inc., will be its operating entity in the recently announced Joint Venture with Advanced Explorations Inc. (TSX Venture: AXI – News) and Geologic Business Solutions Inc. (GBSI) The new Joint Venture team will enjoy a unique combination of advanced hyperspectral remote sensing exploration technology and experience capable of delineating and developing new mineral discoveries worldwide. Dave Stevens, a former Vice-President Exploration for Noranda Inc., pioneered the application of airborne hyperspectral imaging in mineral exploration using ESSI’s Probe-1 hyperspectral instrument. He will re-associate with former Noranda/Falconbridge Director of Research and Technical Innovation, John Gingerich, now CEO of Joint Venture participant GBSI. Both men are highly respected in the mineral exploration industry world-wide. They will be joined by Mike Peshko, GBSI Vice-President, who is also a former Noranda Inc. remote sensing exploration specialist who hasbeen extensively involved in the geological applications of hyperspectral imaging technology for the last eight years, directly managing the acquisition of over 200,000 sq km of airborne hyperspectral data in 7 countries. Advanced Explorations Inc. (AEI), which is providing the organizational structure and funding for the group, is headed by Gary Williams. Mr. Williams has been involved in the mining industry since 1977 and is currently involved in the business development of airborne exploration technology. He has an M.Sc. degree and is a Professional Geologist. The opportunity presented to ESSI shareholders is an initial 15% equity position in selected hyperspectral projects along with AEI as well as USD$1.75 million received as a result of AEI’s purchase of a Probe-1 hyperspectral instrument and ESSI hyperspectral database. At ESSI’s election, all or a part of the USD$1.75 million purchase may be converted to equity in Advanced Explorations Inc. “This Joint Venture gives ESSI shareholders and the Joint Venture partners the opportunity to have equity in an emerging new company that combines proven technology with talented personnel with proven track records. This company will be capable of discovering new exploration properties and acquiring equity positions in new discoveries,” said Dave Stevens. He went on to say, “In bringing together the technical expertise of GBSI and the ESSI instrument, we have effectively reassembled the components of Noranda’s exploration team which was in part responsible for four major discoveries between 1997 and 2000. We have great expectations for this enterprise.” This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material. Contact: Earth Search Sciences, Inc. Larry Vance, 406-751-5200 or GeoProbe Dave Stevens, 253-307-5611 or GBSI John Gingerich, 416-570-3250 AEI Gary Williams, 416-570-0629
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