Elissa Resources Ltd.
TSX VENTURE : ELI
OTCQX : ELSRF
FRANKFURT : E3O

Elissa Resources Ltd.

January 28, 2015 08:00 ET

Ian Powell Ph.D. Appointed as a Senior Optical Systems Designer to Elissa's Partner Company, Spectrum Optix Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 28, 2015) - Elissa Resources Ltd. (TSX VENTURE:ELI)(OTCQX:ELSRF)(FRANKFURT:E3O) (the "Company" or "Elissa") reports that its partner company, Spectrum Optix Inc., has appointed Ian Powell Ph.D. as a senior optical systems designer. Dr. Powell will be reporting to Spectrum Optix CEO, John Daugela.

Dr. Powell holds a B.Sc. Physics, 1st Class Honours, M.Sc. Applied and Modern Optics and a Ph.D. Physics (Applied Optics) from the University of Reading, England. He comes to Spectrum Optix as an industry leader in optical system designs, and has been involved in advanced projects with JDS Uniphase, the National Research Council, in addition to working on projects sponsored by the Canadian Space Agency, Opcon Associates of Canada, and the Sira Institute, England.

Dr. Powell's previous projects range from telescope to microscope optics, including IMAX dual magnification view-finder, anamorphic camera lenses, optical instrumentation for space applications, 360 degree panoramic lenses, spectrograph optics, microlithographic optics, optics used in visual simulators, DOE optics and infra-red scanner systems. He has also worked on many non-imaging applications such as the development of a new concept for solar simulation and laser beam delivery optics. Additionally, Dr. Powell has published 60 optical industry papers and been issued 8 optical patents.

Dr. Powell stated: "I see strong potential in Spectrum Optix's concepts and I look forward to further advancing their innovative lens technologies. Most importantly, I look forward to working with Spectrum on its goal of bringing new and innovative discoveries to the marketplace."

John Daugela, President and CEO of Spectrum Optix, stated: "Dr. Powell brings over 30 years of advanced industry experience to Spectrum Optix and is a welcomed addition to our growing team of professionals."

Elissa Resources and Spectrum Optix previously entered into a Binding Letter of Intent whereby Elissa Resources may acquire a 100% interest in Spectrum Optix Inc. (Please see Elissa news releases November 18 and December 3, 2014 for full details)

About Spectrum Optix

Spectrum Optix is focused on developing technologies relating to imagery and light concentration for lens and image capture based systems. Currently in the early stages of development, Spectrum's core technology is focused on a novel approach to collecting and concentrating an electromagnetic wave, such as a visible light. The company's core technology is a radical departure from traditional lens systems. The central focus of Spectrum's research and development is to create a compact lens system in order to reduce the depth currently required in virtually every lens technology on the market. Its core technology offers potential improvements to both compactness and resolution of imagery.

About Elissa Resources

Elissa Resources has an option to acquire a 100% interest in Spectrum Optix Inc. (www.SpectrumOptix.com). Spectrum is developing novel technologies relating to imagery and light concentration applications. Its technologies aim to disrupt lens and image capture based systems, which may include cameras, smart phones, and telescopes, by creating a compact lens system in order to reduce the depth currently required in traditional lens technologies. Additionally, Spectrum believes its core technology can be scaled to large industrial sizes, potentially enabling improvements to the solar and greenhouse sectors.

On behalf of the Board of Directors of Elissa Resources Ltd.

Paul McKenzie, President & CEO

Disclaimer:

This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to: expectations concerning completion of the transactions contemplated under the LOI, the potential applications of Spectrum's technologies and the timing and expenditures required to develop such technologies. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company and Spectrum operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others, that: the Company may not have access to financing on acceptable terms or at all in order to exercise the options under the LOI; the parties may not receive all necessary regulatory approvals; the funding contemplated by the LOI may not be sufficient to substantially develop Spectrum's technologies; the conditions to the options may not be otherwise satisfied; the parties may not be able to agree on the terms of the formal agreement or other necessary documentation; and other risks inherent with transactions of this type or the business of Spectrum. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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