GEOTECH Acquires Aeroquest

AURORA, ONTARIO--(Marketwire - May 14, 2012) - GEOTECH LTD., a world leader in airborne geophysical surveys is pleased to announce its acquisition of Aeroquest International and its subsidiaries. A meeting of Aeroquest International shareholders was held on May 3^rd 2012, resulting in overwhelming support for the transaction.

Aeroquest will continue to provide its services as usual through its subsidiaries, Aeroquest Limited in Canada, UTS Geophysics in Australia, Aeroquest Mapcon in Canada and the U.S., and Geophex in the U.S.

Aeroquest offers a long history in EM and fixed-wing magnetics and, in combination with GEOTECH, allows for an even wider range of solutions for clients.

GEOTECH has now become the world's largest privately owned geophysical survey company, operating a fleet exceeding 20 aircraft and offering as many as 50 systems to deploy.

Aeroquest shares our philosophy of quality of service, constant innovation, and commitment to our clients.

About GEOTECH LTD.

GEOTECH LTD. was originally founded and incorporated in Canada in 1981. It has since become a world leader and innovator in the development and manufacturing of airborne surveying equipment, as well as in the provision of full-service airborne geophysical surveys, data processing and data interpretation. GEOTECH offers proprietary VTEM (helicopter-borne time-domain electromagnetics), proprietary ZTEM (measuring natural alternating magnetic fields in the audio-frequency range), magnetic, magnetic gradient and gamma-ray spectrometer surveys globally. Further information about GEOTECH can be found at www.geotech.ca.

About Aeroquest International

Aeroquest International offers a long history in ultra-detailed fixed-wing magnetic and radiometric data acquisition. They are experienced in conducting surveys worldwide for economic concentrations of mineral and petroleum resources and in the precision-mapping of the earth's surface. Airborne geophysical surveys are conducted through Aeroquest Airborne, aerial geomatics surveys through Aeroquest Mapcon, and the custom design and construction of geophysical sensors and instruments through Geophex. Further information about Aeroquest International can be found at www.aeroquest.ca.