Terralliance Secures Funding

Proprietary Exploration Technology Detects Hydrocarbons and Minerals

NEWPORT BEACH, Calif. Terralliance Technologies, Inc., a technology-based exploration company, today announced that it has secured new funding to scale its Natural Resource Mapping (NRM) technology and address additional exploration opportunities beyond hydrocarbons, including gold and other minerals.

“Terralliance’s NRM technology may have as big an impact on the entire field of exploration as AVO seismic had on oil and gas exploration, and we own the technology,” said Terry Gerhart, CEO of Terralliance. “While hydrocarbon exploration has been our initial market, we confirmed during field trials that our NRM technology is also effective in detecting gold and other minerals.

“During this difficult economic climate, we have streamlined our business plan to maximize the value derived from our core technological innovations. I appreciate the support of our investors who have committed new capital and our lender who has converted the lion’s share of our debt to equity,” said Gerhart. “This renewed focus and support will enable us to build a business of a scale and scope commensurate with this game-changing technology.”

Terralliance also announced the appointment of W. Michael Long, as Executive Chairman of the Board of Terralliance (bio available at www.terralliance.com/bioml.htm). “Mike’s proven track record in technology management, corporate turnarounds and building market-leading companies is an invaluable addition to our team,” said Gerhart.

About Terralliance

Terralliance is a technology-based exploration company that develops and uses aircraft-based remote-sensing platforms to dramatically improve exploration success. Terralliance is a privately held company whose investors include Kleiner Perkins Caufield & Byers, Goldman Sachs and Passport Capital, LLC.

Terralliance is a registered trademark of Terralliance Technologies, Inc. in the United States and other jurisdictions. All other company names mentioned are used only for identification and may be trademarks of their respective companies.

Source: Terralliance Technologies, Inc.