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

Elissa Resources Ltd.

February 17, 2015 07:00 ET

Rob D. Cardinal, B.Sc. Appointed as a Senior Systems Designer to Elissa's Partner Company, Spectrum Optix Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2015) - Elissa Resources Ltd. (TSX VENTURE:ELI)(OTCQX:ELSRF)(FRANKFURT:E3O) (the "Company" or "Elissa") reports that its partner company, Spectrum Optix Inc., of Calgary, Canada is pleased to announce that it has appointed Rob D. Cardinal, B.Sc. as a senior systems designer. He will be reporting to Spectrum Optix CEO, John Daugela.

Mr. Cardinal holds a B.Sc. in Physics and Astronomy from the University of Victoria, Canada. As a member of the science team for NEOSSat, a Canadian planetary science microsatellite launched in 2013 for the Canadian Space Agency, he currently oversees the development of massively parallel software and high performance computer systems to search for asteroids in the data images returned from the satellite. Additionally, he developed unique automated moving object detection software for the Near Earth Space Surveillance (NESS) project with which he has discovered two comets which bear his name, and one near-Earth Asteroid.

Mr. Cardinal is an expert in photometry, astrometry, image analysis and reconstruction, and software development for massively parallel GPU computer systems. He is listed as an author on over 30 publications in astronomical literature. Given his professional background, he is ideally suited to make contributions to the advancement of Spectrum's imaging and non-imaging applications where an efficient method to concentrate electromagnetic energy is required.

Mr. Cardinal previously worked on projects ranging from variable star research at the University of Victoria, atmospheric water vapor content over Mauna Kea, HI, for the James Clerk Maxwell Telescope (JCMT), optical sensitivity analysis for Defence Research and Development Canada (DRDC), telescope retrofit and refurbishment at the Rothney Astrophysical Observatory (RAO), and near Earth space surveillance.

Following his appointment to Spectrum, Rob Cardinal stated: "I'm excited to help develop applications for Spectrum Optix's concepts in both imaging and non-imaging systems. There are innovative strides left to be made for technology advancement and product development in this industry and I believe Spectrum is well positioned to make great contributions."

John Daugela, President and CEO of Spectrum Optix, stated: "This is an exciting time for Spectrum. Rob's appointment adds even more depth to our technical team. His extensive experience with optics will be a great asset in further developing our core technology as we pursue innovative lens designs and potential applications."

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).

Spectrum Optix is focused on developing technologies relating to imagery and light concentration for lens and image capture based systems. 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. (http://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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