SOURCE: Secure Runway Systems Corp.

June 22, 2010 11:11 ET

Secure Runway Systems Provides Update on Its Runway Technology, Addition to Secure's Advisory Board, and General Corporate Update

TORONTO--(Marketwire - June 22, 2010) -  Secure Runway Systems Corp. (PINKSHEETS: SRWY) ("Secure" or "the Company") is very pleased to announce that it has been in discussions with past president and inventor Hilary Vieira with respect to Secure's Foreign Object Debris (FOD) Technology as it relates to the aerospace field. In March 2008, Hilary Vieira granted Secure the licensing rights to this patented technology developed by Hilary Vieira. The agreement provides that Secure may install, develop, produce, implement, market, promote, and ultimately sell the licensed patented systems on a global basis. Secure has access to all know how with regard to the FOD Technology. The licensing agreement is perpetual and of indefinite duration. The license was purchased outright in 2008 for 1 million common shares of Secure without any cash consideration and there are no funding or other similar type commitments. The licensing terms are extremely advantageous to Secure.

Edward Minnema, President of Secure, is very excited to report that Secure will be proceeding with this technology. Since becoming President of Secure, Mr. Minnema has received many inquiries regarding this advanced technology and based on the inquiries and the discussions with Mr. Vieira, Secure has decided to take all necessary action to move forward with the technology. Secure will create an Aerospace division in furtherance of its plan to diversify the company's revenue streams bringing added value to shareholders while minimizing dilution. Secure's diversification strategy creates various revenue streams which it anticipates will generate income internally to support mining and other operations without achieving same solely through the issuance and sale of its company's shares.

Mr. Hilary Vieira comments, "I am thrilled that Mr. Minnema has taken the time to review this technology with me. We have at length discussed the viability of the patented product and technology and the fact that there are very few competitors in this market and none with the kind of product licensed to Secure. To my knowledge none of the competition holds patents on their products and Secure's license provides Secure with an advantage and product which we believe is superior to the competition. I am confident that with Mr. Minnema's leadership and extensive contacts, he will assist Secure in bringing this product to fruition. This technology not only will save lives and reduce damage to aircraft, but I believe it will be a highly profitable business venture." Mr. Minnema is pleased to report that Secure will have the full support of Hilary in implementing its targets, including the updating of all documents relating to FOD technology.

THE COSTS OF FOREIGN OBJECT DEBRIS

It is estimated that Foreign Object Debris costs the aerospace industry US$1.1-2 billion per year in direct costs, and as much as ten times that amount in indirect costs resulting from such matters as delays, aircraft changes, incurred fuel costs, unscheduled maintenance, and the like for a total of $12-$21 billion per year and causes expensive, significant damage to aircraft and parts and death and injury to workers, pilots and passengers.

It is estimated that Foreign Object Debris costs major airlines in the United States $26 per flight in aircraft repairs, plus $312 in such additional indirect costs as flight delays, plane changes and fuel inefficiencies. Secure believes that if its product helps reduce the direct and indirect costs, only a fraction of that market will be necessary to achieve significant revenue for the company.

APPOINTMENT TO THE BOARD OF ADVISORS

Secure also wishes to announce the appointment of Mr. Hilary Vieira to its advisory board. Mr. Vieira will, among other things, provide technical and software support to the Foreign Debris Technology, and will also assist in upgrading and advancing the technology. Aside from him being the inventor of the patent, his extensive contact base is a huge asset for Secure and he will be invaluable to the company.

Mr. Hilary Vieira has been in the field of I.T. for over 35 years. He has managed projects in North America, The Middle East and in India. He has a diverse range of experience in business including being a director of a Pharmaceutical Company and was the President & Technical Director of an Aerospace company listed on the Toronto Venture Exchange. Mr. has extensive experience in the public company arena where he has managed public companies on the TSX-venture exchange and the OTCBB. 

Mr. Vieira has consulted and provided advisory services with several companies including Bombardier, the L.C.B.O. and Canadian Tire. He has previously been successful in designing, developing and implemented aerospace products which have been certified by both Transport Canada and the FAA.

Mr. Vieira is a technologist with several patents registered to his name and brings leading edge technologies, ideas and access to patented technology.

LA DAMA DE ORO UPDATE

Secure also wishes to update the status of the ongoing negotiations on the La Dama de Oro project. As part of its due diligence Management visited the property and was very impressed with progress on the property made to date. Secure is continuing its discussions with the vendors with respect to the preparation and signing of a definitive agreement. With the price of gold at all time record highs, Secure is very enthusiastic with respect to signing a definitive agreement to the benefit of all related parties.

SECURE NAME CHANGE

Secure also wishes to announce that the company will be changing its name in the near future. It is in the process of a name change and will affect name as soon as practically possible. The name change will better reflect the new direction of the company in that the company is a diversified business venture company taking advantage of various sectors of the economy to increase shareholder value while minimizing shareholder dilution. A further update with regard to the name change will follow in due course. 

About Secure Runway Systems Corp.

Secure Runway Systems is a junior public company creating a diverse range of business ventures which will appeal to a broad audience so the Company will grow together with those different sectors of the economy. The company currently has signed a definitive agreement on their first gold property, "the Hemlo Aura Gold property" in Northern Ontario. This area has hosted some very large gold mines including the 23 million ounce Barrick-Hemlo Gold mine. The company owns the Nugget Finder Gold project near Quartzite Arizona which is a prolific area for past and present gold production. The property is located in the world famous Walker Lane Gold Belt which has historically produced over 45 million oz of gold and over 400 million oz of silver.

Secure also owns the exclusive licensing rights to a patented proprietary technology which detects Runway Foreign Object Debris which costs the aerospace industry US$1.1-2 billion per year in direct costs, and as much $21 billion dollars per year in indirect costs. The agreement provides that Secure may exclusively install, develop, produce, implement, market, promote, and ultimately sell the licensed patented system on a global basis. Secure has access to all know how with regard to the Runway Foreign Object Debris Technology.

In addition to exploring for gold and owing the license for the patented technology, the company is currently investigating other businesses ventures including those in the retail sector. With an advantageous share structure and through the building of a solid management team, the company will endeavor to provide increased shareholder value and at the same time minimizing dilution so as to provide maximum return for shareholders. We invite current and prospective shareholders to contact us and learn more about our company or visit us at:

www.srwypink.com

Safe Harbour Statement:

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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