Quantec Geoscience Limited

Quantec Geoscience Limited

December 21, 2006 06:00 ET

Victoria Park Capital Invests $3,000,000 in Quantec Geoscience Limited and its Uranium Solutions Business

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Quantec Geoscience Limited ("Quantec" or the "Company") is pleased to announce that Victoria Park Capital Inc., on behalf of its client, Investment Saskatchewan, will invest $3,000,000 in the company to help accelerate the Company's Uranium Solutions Business.

According to Ron Vermey, President & CEO of Quantec, "Quantec has already proven its leadership in the mining exploration sector and we are now poised to enter the Uranium industry at full speed. With the support and industry affiliations of Victoria Park Capital, we are confident we will quickly become the first call for geophysics in the Uranium exploration industry."

Quantec's Chairman, Loudon Owen, also Managing Partner of Quantec's largest investor McLean Watson Ventures II, added, "Quantec is building on a legacy of 20 years in geophysics, and its Titan Technology revolutionized the mining exploration industry. We are delighted to have such a prominent partner help lead our foray into a similar leadership role in the uranium exploration industry at such a critical juncture in the industry."

This investment facilitates the acceleration of the advancement of Quantec's proprietary Titan 24 MT&DCIP distributed array technology to the next level. This next level of development of Titan 24 MT&DCIP allows Quantec to provide its clients a three-dimensional data acquisition system utilizing wireless distributed array technology. This method of data acquisition provides the optimum data possible to feed three-dimensional inversion programs. The end result will be the deepest clearest picture possible of the property's geology.

This three-dimensional Titan like system will initially be tested in Saskatchewan's Athabasca Basin. In addition, Quantec is opening an office in Saskatoon to serve our Saskatchewan clients and to build our world-wide uranium consulting business.

Brian LaBerge of Victoria Park Capital added, "We are excited about Quantec's technology and its application in the uranium exploration industry. Quantec's cutting-edge technology will help maintain and build Saskatchewan's leadership role in the uranium industry. We are delighted to have partnered with Quantec, its management team and current investors."

About Victoria Park Capital Inc.

Victoria Park Capital (VPC) is a majority employee owned private equity management firm currently managing the investment assets of Investment Saskatchewan. VPC, on behalf of its client, is focused on equity investments that bring economic advantage to the province of Saskatchewan.

About Quantec Geoscience Limited

Quantec Geoscience Limited is a global leader of geophysical contracting and consulting services to the mining industry. With offices in Canada, United States, Peru, Chile, Argentina, Australia and Botswana, Quantec provides service to public and private mining companies and government agencies.

About McLean Watson Capital Inc.

McLean Watson is a Toronto-based venture capital firm, with offices in Singapore. Building on its expertise as a technology investor, it has become a world leader in funding mining and natural resource exploration technology.

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