SOURCE: Quasar Aerospace Industries, Inc.

July 09, 2010 13:45 ET

Mineseeker Overseas Operations, LTD, Through Quasar Aerospace Industries, Inc., Announces Progress Report for Croatia Demonstration

JACKSONVILLE, FL--(Marketwire - July 9, 2010) -  Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., having just returned from Mineseeker headquarters in England, announces on behalf of Mineseeker Overseas Operations, LTD, that a short term delay in deploying to Croatia for the radar demonstration has occurred. This is due, primarily to logistical issues beyond the control of the company. Chairman, Michael Kendrick, has stressed that this is only a short term postponement. Interested parties should refer to www.mineseeker.com, where regular updates will be posted from next week (19th July) onward. Mr. Kendrick added that Wayne Rudd, who was the Chief Executive of one of our key technology suppliers, died suddenly and tragically last week which has also led to an inevitable delay. Mineseeker Overseas Operations, LTD attended the funeral and have had subsequent meetings with board members, who are keen to resume the project as soon as possible.

This press 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 harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

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