Earth Search Sciences Announces Results of Independent Economic Study
April 23rd, 2007
Earth Search Sciences, Inc. (OTCBB:ESSE), a leading commercial provider of revolutionary hyperspectral remote sensing technology, today announced the completion of an independent economic study showing the hyperspectral market potential to be approximately $1 billion.
Dr. Joe Zamudio, a leading hyperspectral technology scientist, said Intellisense, Inc. found that PROBE 3 — the new third generation instrument design — is likely to surpass its leading edge predecessor PROBE 1 in all operating characteristics, including resolution, survey efficiency, data reliability, and substantial signal-to-noise reduction. Both designs were developed and are owned by Earth Search Sciences.
According to Larry F. Vance, Chairman, the PROBE 3 allows the company to move forward with the next stage of its strategic business plan.
“A key component of our strategy will be to focus our technology on the exploration, discovery and development of economic resources to build shareholder value,” said Vance. “We believe the PROBE 3 will allow Earth Search to compete with anyone in the market. As a result, and as this economic study indicates, we believe we now have the potential to achieve increased market share and the ability to develop our own discoveries in the oil, gas and mineral resource sector, ultimately building shareholder value.”
About Earth Search Sciences
Earth Search Sciences, Inc.’s (OTCBB:ESSE) revolutionary hyperspectral technology provides the ability to accurately read the chemical properties of surface substances from great altitudes and produce easily interpreted maps allowing the user to identify specific minerals and substances on the surface of the earth by their diagnostic reflectance patterns. Ultimately, this remote sensing capability identifies a greater number of exploration targets quickly and economically, monitors the environmental situation, and improves the probability of finding anomalies. Older, more conventional methods would take decades to cover the same area, and at a much greater cost. Within the realm of exploration, remote sensing does not replace the need for geological knowledge, geochemistry, geophysics, seismic, drilling, etc, which are some of the more conventional tools used for exploration.
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.
Earth Search Sciences, Inc. Larry Vance, 406-751-5200 lvance@earthsearch.com
Copyright Business Wire 2007
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Earth Search To File Notice With SEC That Will Remove Debt Charges Associated With Company’s Financial Statements
March 31st, 2007
LAKESIDE, Mont.–(BUSINESS WIRE)–Earth Search Sciences, Inc., (OTCBB:ESSE – News), a leading provider of value-added hyperspectral exploration services to the mineral, hydrocarbon and environmental industries, today announced that it intends to file notice with the SEC to remove extensive debt charges associated with the company’s financial statements. The company’s Board of Directors and outside legal counsel advised that a substantial amount of the current liabilities carried in the company’s balance sheet can be eliminated by accounting standards compliant with the statute of limitations.
“Earth Search Sciences, Inc. and the company’s auditors have received a legal opinion letter outlining the contracts entered into by Space Technology Development Corporation (STDC), a wholly-owned subsidiary of ESSI,” said Larry Vance, Chairman of ESSI. “In essence, the legal opinion states that because STDC ceased operation on the contracts by November 2000, any breach of the contracts would have occurred more than seven years ago. Accordingly, the company has been advised that any future action arising out of the contracts should be barred by the statute of limitations.”
About Earth Search Sciences
Earth Search Sciences, Inc.’s (OTCBB:ESSE – News) revolutionary hyperspectral technology provides the ability to accurately read the chemical properties of surface substances from great altitudes and produce easily interpreted maps allowing the user to identify specific minerals and substances on the surface of the earth by their diagnostic reflectance patterns. Ultimately, this remote sensing capability identifies a greater number of exploration targets quickly and economically, monitors the environmental situation, and improves the probability of finding anomalies. Older, more conventional methods would take decades to cover the same area, and at a much greater cost. Within the realm of exploration, remote sensing does not replace the need for geological knowledge, geochemistry, geophysics, seismic, drilling, etc, which are some of the more conventional tools used for exploration. __________________________________________
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 lvance@earthsearch.com
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Earth Search Sciences’ Hyperspectral Technology Helps Identify Existence and Location of New Precious Metals at El Capitan Property
March 31st, 2007
LAKESIDE, Mont., March 20 /PRNewswire-FirstCall/ — Earth Search Sciences, Inc. (OTC Bulletin Board: ESSE – News); ( www.earthsearch.com ) announced today that El Capitan Precious Metals, Inc. credits Earth Search’s innovative Probe-1 hyperspectral remote sensing technology as a component in the identification of a potentially rich mineral field on the company’s property near Ruidoso, New Mexico.
“The technology Earth Search employed on the project helped us identify promising areas of mineralization,” said Chuck Motley, President and CEO of El Capitan. “These areas of mineralization are right where Earth Search’s technology indicated they would be. In addition, we are pleased that preliminary analysis indicates the deposit has good potential for production.”
Using an eight-acre parcel of known mineralization on El Capitan’s property as a baseline for comparison, Earth Search Sciences then expanded the original discovery and mapped an additional 8,000 acres of the property. The PROBE-1 hyperspectral instrument — which Earth Search uses in flight to identify specific minerals and substances on the surface of the earth — found indications of promising mineralization throughout the mapped area. El Capitan is planning to undertake a program to confirm the values of the discovery.
“The PROBE-1 hyperspectral instrument has again proven its capability in surface exploration for identifying the pathfinders leading to mineral deposits,” said Larry Vance, Chief Executive Officer of Earth Search Sciences. “We are pleased that our Probe-1 hyperspectral technology delivered for El Capitan Precious Metals helping to identify their discovery and we believe that this represents a significant step in demonstrating the effectiveness of our hyperspectral imaging technology.”
The Probe-1 has previously been successfully used in mineral exploration by one of the world’s largest mining companies, Noranda Minerals. ___________________________________________
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
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