Ialta Industries Ltd.

Ialta Industries Ltd.

August 04, 2005 17:44 ET

Ialta Industries Ltd.: Scotia Project Technical Report and Additional Public Listing Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2005) - Ialta Industries Ltd. (CNQ:ILTA) ("Ialta") is pleased to provide the following update on the Scotia zinc-lead-silver project optioned from Doublestar Resources Ltd (DSR-TSX.V). The NI 43-101 Technical Report commissioned early this year for Geo Minerals Ltd. ("Geo"), Ialta's newly established subsidiary, is being filed on SEDAR. In addition to this filing, based on the findings discussed in the Technical Report, Ialta is pleased to announce it will be undertaking a CNQ public listing for the assets included in Geo Minerals Ltd., with an anticipated listing date in early fall of 2005. Ialta currently owns majority interest of Geo, and is anticipating declaring a dividend of Geo shares to Ialta shareholders upon final approvals from the appropriate Provincial Securities Commissions as well as the CNQ. The anticipated record date and additional information on this transaction will be provided at a later date.

The 43-101 Technical Report for Geo Minerals Ltd. is based on historic data available on the Scotia Project, located 40 km southeast of Prince Rupert in west central British Columbia. This project hosts VMS type zinc, copper, lead, silver and gold occurrences, with two mineral claims holding 2,939.4 hectares in area. As announced by Ialta and Doublestar Resources on April 20th, 2005, Ialta/Geo has the right to acquire up to 50% of this project from Doublestar in exchange for 350,000 shares and incurring $2.0 million CDN in exploration expenditures over the next 5 years.

The objective of the Technical Report is to document the following:

- Summarize the exploration history of the Property by describing historical programs and results based on a review of available Assessment Reports,

- Compile and discuss results of previous exploration programs carried out on the Property,

- Compile and discuss in detail results of a previous exploration program carried out on the Property during 1997 by Arnex,

- Document exploration potential and prioritize exploration targets,

- Make recommendations regarding further development of the Property.

In compliance with NI 43-101, A.O Birkeland, P.Eng., is the Qualified Person responsible for the technical accuracy of the independent NI 43-101 compliant Technical Report.

Ialta is a Canadian company, working with a network of international partners, to provide energy management solutions (EMS) for the global energy and utility markets through its wholly owned subsidiary Synaptech Solutions Inc. Ialta has recently pursued opportunities for mineral exploration and development to increase the value of its existing relationship asset base. Further opportunities in other related industry sectors are also currently being investigated.

About Ialta Industries Ltd.

Ialta Industries Ltd. has two subsidiaries Geo Minerals Ltd. and Synaptech Solutions Inc.. Geo was created to lever the business relationships the Company has established worldwide while working with the Ministry of Energy and Mines in a number of countries. Its wholly owned subsidiary, Synaptech provides energy management solutions (EMS) for the global energy and utility markets. Incorporating various communications technologies -- wired, wireless, radio frequency and power line -- Synaptech provides an end-to-end Automatic Meter Reading (AMR) solution. Synaptech has secured the use of such technologies by way of licensing agreements, original equipment manufacturer agreements and distribution agreements. For more information, please visit www.ialtaindustries.com or www.synaptechinc.com

On Behalf of the Board of Directors
Ialta Industries Ltd.

signed "Vid Wadhwani"
Vid Wadhwani, Executive Chairman

Certain matters discussed in this press release may contain forward-looking statements. Investors are cautioned that all statements, other than statements of historical fact, involve risks and uncertainties, including but not limited to: product development delays, the ability to attract and retain business partners, competition from other AMR manufacturers, competition from existing power line technologies, and the ability to provide the capital required for product development, operations and marketing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are encouraged to review the Company's filings on SEDAR at www.sedar.com.

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