Press Releases

TORONTO, ONTARIO--(Marketwire - Nov. 11, 2009) - Coretec Inc. (TSX: CYY) today reported its financial results for the third quarter ended September 30, 2009. Sales in the 2009 third quarter were $16.3 million, a decrease of $1.6 million sequentially or 9.4% as compared to sales of $ 17.9 million in Q2 2009, and down $4.0 million or 19.9% from sales of $20.3 million in the same period of the prior year.

In the 2009 third quarter, the Company recorded gross profit of $1.3 million or 7.9% of sales, an increase of $0.1 million sequentially or 8.2% as compared to gross profit of $1.2 million in Q2 2009, and down $1.2 million or 47.3% from gross profit of $2.4 in the comparable period in 2008.

A loss of $2.0 million or $0.11 per share was recorded in the 2009 third quarter, an improvement of $0.4 million sequentially as compared to a loss of $2.4 million or $0.13 per share in Q2 2009, and down $1.5 million as compared to the prior year quarter which had a loss of $0.5 million or $0.03 per share. The 2009 third quarter included $0.2 million of foreign exchange losses and $0.6 million of termination and severance costs. This compares with a loss on foreign exchange of $0.5 million in Q2 2009 and $0.3 million of termination and severance costs. In the prior year period the Company recorded a gain of $0.1 million on foreign exchange and no expenses as related to termination and severance.

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter of 2009 was negative $0.6 million, as compared to negative EBITDA of $1.0 million in Q2 2009. The prior year period EBITDA was $0.7 million.

Paul Langston, President and CEO of Coretec Inc. said, "The Company has been hurt by a severe slowdown in the PCB industry during 2008 and throughout 2009. According to IPC (the North American PCB industry association), industry shipments and bookings in 2009 through to the end of September were off 27% and 25% respectively versus the same period in 2008. We've also been challenged throughout 2009 by the costs and disruptions associated with the consolidation of our Ellesmere and Sheppard facilities.

Mr. Langston continued, "Over the past 30 months we have shut down approximately 70,000 sq. ft. of manufacturing space across two facilities and constructed a state-of-the-art, 100,000 sq.ft. green-field facility at our Sheppard site in Toronto. In the first 8 months of 2009 we relocated the majority of our equipment platform as well as over 200 staff members. Today 95% of our manufacturing personnel in Toronto are located at our Sheppard site. We anticipate that the final wave of equipment and personnel will be consolidated into our Sheppard facility in the first half of 2010. As a result of our efforts we started to realize in mid Q3 the planned labour and overhead synergies associated with operating primarily under one roof in Toronto. During the quarter we were able to undertake a meaningful labour restructuring which has already manifested itself in improved productivity and cost. Furthermore, the savings associated with the decommissioning of the older Ellesmere equipment platform and reduction of leased premises are proving to be meaningful."

Mr. Langston said, "All of our stakeholders have been very supportive during our massive facility consolidation process in Toronto. The partnership and commitment shown to us by our customers has been inspiring and our supplier relationships continue to facilitate continuous improvements in yields and technology at our Sheppard location in particular. Furthermore, the excellent relations that we continue to enjoy with our financial partners makes us realize that we have aligned ourselves with the best possible lenders.

"We believe that our Sheppard facility is coming on stream at an opportune time. The industry metrics are signaling a recovery and we are hearing across our account base that demand visibility is improving. Specifically, the IPC book-to-bill ratio has now been solidly above parity for five consecutive months and the most recent IPC data for North America suggests that business activity industry-wide is on the upswing. Additionally, there appears to be a meaningful amount of business in play at the moment due to the significant number of consolidations and closures that have occurred in the industry. We have experienced a surge in facility visits by customers and have been the recipients of new target customer approvals across all sites," said Mr. Langston.

"Our US operations in Denver and Cleveland as well as our Coretec-Asia business have seen stronger-than-market demand throughout 2009 as a result of excellent operational execution dynamics. These business units have experienced significant new customer activity and are poised for growth in the coming quarters. Combined with the fact that the Toronto operations are no longer in transition we believe that our financial and operational performance metrics will show ongoing improvement over the balance of 2009 and into 2010," indicated Mr. Langston.

"On November 9, 2009 we announced that we've received proposals from third parties with respect to a possible sale of the Company. Although the Board of Directors had not made a decision to market the Company for sale, a special committee has had to be formed to review the various overtures. To date we have been both surprised and flattered by the level of interest expressed from several worthy merger/acquisition partners. Our focus and desire is to consummate a transaction prior to the end of the year," said Mr. Langston.

Coretec is one of the leading designers and fabricators of printed circuit boards for the prototype and quick turnaround production segments of the North American and European markets. Coretec distinguishes itself from its competitors by providing an extensive suite of printed circuit board services including field applications engineering support and education; technology roadmap consulting, CAD layout; rapid response manufacturing for prototypes; quick turn production for small-to-middle volume quantity requirements; and facilitation of higher volume requirements via partnerships in lower cost jurisdictions. The Company is also differentiated by its broad range of PCB technologies.

This news release contains "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995, and applicable Canadian Securities Legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance, opportunities, new market for growth and financial position. Generally these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecast", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results or developments may vary materially from those projected or implied in the forward-looking statements as a result of any number of factors, including currency exchange rate fluctuations; variability of operating results; dependence on certain industries; management of growth and expansion; integration of operations; ability to attract and retain key personnel; nature of sales; product complexity and product defects; international operations; material cost fluctuations and limited availability of raw materials; potential loss of customers; competition; industry contraction and slow economic growth; technological change and process development; environmental liability; need for additional financing; product liability; pricing pressure; ability to reduce costs; and other risks discussed in the section entitled "Risk Factors" in Coretec's Annual Information Form dated March 27, 2009 which can be obtained at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Coretec Inc.
        Paul C. Langston
        President & Chief Executive Officer
        416-208-2160
        langston@coretec-inc.com

        Coretec Inc.
        Aaron Ames
        Chief Financial Officer
        416-208-2165
        aames@coretec-inc.com

Source: Coretec Inc.

TORONTO, ONTARIO -- (MARKET WIRE) -- 11/11/09 -- Coretec Inc. (TSX: CYY) today reported its financial results for the third quarter ended September 30, 2009. Sales in the 2009 third quarter were $16.3 million, a decrease of $1.6 million sequentially or 9.4% as compared to sales of $ 17.9 million in Q2 2009, and down $4.0 million or 19.9% from sales of $20.3 million in the same period of the prior year.

In the 2009 third quarter, the Company recorded gross profit of $1.3 million or 7.9% of sales, an increase of $0.1 million sequentially or 8.2% as compared to gross profit of $1.2 million in Q2 2009, and down $1.2 million or 47.3% from gross profit of $2.4 in the comparable period in 2008.

A loss of $2.0 million or $0.11 per share was recorded in the 2009 third quarter, an improvement of $0.4 million sequentially as compared to a loss of $2.4 million or $0.13 per share in Q2 2009, and down $1.5 million as compared to the prior year quarter which had a loss of $0.5 million or $0.03 per share. The 2009 third quarter included $0.2 million of foreign exchange losses and $0.6 million of termination and severance costs. This compares with a loss on foreign exchange of $0.5 million in Q2 2009 and $0.3 million of termination and severance costs. In the prior year period the Company recorded a gain of $0.1 million on foreign exchange and no expenses as related to termination and severance.

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter of 2009 was negative $0.6 million, as compared to negative EBITDA of $1.0 million in Q2 2009. The prior year period EBITDA was $0.7 million.

Paul Langston, President and CEO of Coretec Inc. said, "The Company has been hurt by a severe slowdown in the PCB industry during 2008 and throughout 2009. According to IPC (the North American PCB industry association), industry shipments and bookings in 2009 through to the end of September were off 27% and 25% respectively versus the same period in 2008. We've also been challenged throughout 2009 by the costs and disruptions associated with the consolidation of our Ellesmere and Sheppard facilities.

Mr. Langston continued, "Over the past 30 months we have shut down approximately 70,000 sq. ft. of manufacturing space across two facilities and constructed a state-of-the-art, 100,000 sq.ft. green-field facility at our Sheppard site in Toronto. In the first 8 months of 2009 we relocated the majority of our equipment platform as well as over 200 staff members. Today 95% of our manufacturing personnel in Toronto are located at our Sheppard site. We anticipate that the final wave of equipment and personnel will be consolidated into our Sheppard facility in the first half of 2010. As a result of our efforts we started to realize in mid Q3 the planned labour and overhead synergies associated with operating primarily under one roof in Toronto. During the quarter we were able to undertake a meaningful labour restructuring which has already manifested itself in improved productivity and cost. Furthermore, the savings associated with the decommissioning of the older Ellesmere equipment platform and reduction of leased premises are proving to be meaningful."

Mr. Langston said, "All of our stakeholders have been very supportive during our massive facility consolidation process in Toronto. The partnership and commitment shown to us by our customers has been inspiring and our supplier relationships continue to facilitate continuous improvements in yields and technology at our Sheppard location in particular. Furthermore, the excellent relations that we continue to enjoy with our financial partners makes us realize that we have aligned ourselves with the best possible lenders.

"We believe that our Sheppard facility is coming on stream at an opportune time. The industry metrics are signaling a recovery and we are hearing across our account base that demand visibility is improving. Specifically, the IPC book-to-bill ratio has now been solidly above parity for five consecutive months and the most recent IPC data for North America suggests that business activity industry-wide is on the upswing. Additionally, there appears to be a meaningful amount of business in play at the moment due to the significant number of consolidations and closures that have occurred in the industry. We have experienced a surge in facility visits by customers and have been the recipients of new target customer approvals across all sites," said Mr. Langston.

"Our US operations in Denver and Cleveland as well as our Coretec-Asia business have seen stronger-than-market demand throughout 2009 as a result of excellent operational execution dynamics. These business units have experienced significant new customer activity and are poised for growth in the coming quarters. Combined with the fact that the Toronto operations are no longer in transition we believe that our financial and operational performance metrics will show ongoing improvement over the balance of 2009 and into 2010," indicated Mr. Langston.

"On November 9, 2009 we announced that we've received proposals from third parties with respect to a possible sale of the Company. Although the Board of Directors had not made a decision to market the Company for sale, a special committee has had to be formed to review the various overtures. To date we have been both surprised and flattered by the level of interest expressed from several worthy merger/acquisition partners. Our focus and desire is to consummate a transaction prior to the end of the year," said Mr. Langston.

Coretec is one of the leading designers and fabricators of printed circuit boards for the prototype and quick turnaround production segments of the North American and European markets. Coretec distinguishes itself from its competitors by providing an extensive suite of printed circuit board services including field applications engineering support and education; technology roadmap consulting, CAD layout; rapid response manufacturing for prototypes; quick turn production for small-to-middle volume quantity requirements; and facilitation of higher volume requirements via partnerships in lower cost jurisdictions. The Company is also differentiated by its broad range of PCB technologies.

This news release contains "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995, and applicable Canadian Securities Legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance, opportunities, new market for growth and financial position. Generally these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecast", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results or developments may vary materially from those projected or implied in the forward-looking statements as a result of any number of factors, including currency exchange rate fluctuations; variability of operating results; dependence on certain industries; management of growth and expansion; integration of operations; ability to attract and retain key personnel; nature of sales; product complexity and product defects; international operations; material cost fluctuations and limited availability of raw materials; potential loss of customers; competition; industry contraction and slow economic growth; technological change and process development; environmental liability; need for additional financing; product liability; pricing pressure; ability to reduce costs; and other risks discussed in the section entitled "Risk Factors" in Coretec's Annual Information Form dated March 27, 2009 which can be obtained at www.sedar.com.

Contacts:
Coretec Inc.
Paul C. Langston
President & Chief Executive Officer
416-208-2160
langston@coretec-inc.com

Coretec Inc.
Aaron Ames
Chief Financial Officer
416-208-2165
aames@coretec-inc.com

Forward thinking Mayor A.C. Wharton, sees Benefit in New Safe 'til Stable Program

MEMPHIS, Tenn., Nov. 11 /PRNewswire-USNewswire/ -- Memphis Mayor, A.C. Wharton stands up for the outstanding Memphis-based National Bipolar Foundation; a press conference is to be hosted by University of Tennessee Health & Science Center on November 17th at 2pm at the Student Center at 800 Madison in Room 305. The National Bipolar Foundation has been in the national spotlight during the past few weeks for its initiative in cooperation with the MedicAlert Foundation. A major breakthrough to benefit people living with Bipolar disorder has been developed for the first time ever. The cooperative venture has produced a preventative care program called "Safe 'til Stable." It provides vital medical information to emergency responders in time of need through our live 24-hour emergency response service. In a medical emergency, this can help reduce the trauma experienced by individuals impacted with bipolar disorder. If an individual experiences an event, first responders on the scene (e.g., law enforcement, emergency services personnel, etc.) will look for a medical ID with the "MEDIC ALERT" symbol. The "Safe 'til Stable" program is a milestone; in that, those with bipolar disorder will have a voice in times when they cannot speak for themselves, will be properly routed in times of emergency providing a sense of security for the individual and those close to them.

The National Bipolar Foundation (NBPF) was founded in 2007 by Marc Kullman in order to reduce stigma, educate, and seek affordable healthcare for those people living with bipolar disorder. A National Awareness Initiative has been launched to spread awareness through press releases, press conferences, proclamations, influential people, and its online campaign through social media networking. The MedicAlert Foundation, founded in 1956, is the leader in providing identification and emergency medical information. Together both foundations have developed a program that will prevent the misdirection, misdiagnosis, and mistreatments of participants; saving precious time and dollars.

Mayor Wharton is credited with the creation of the Jericho Project, whose mission is to help those living with mental illness out of the criminal justice system and on the road to recovery. The Mayor's forward thinking program addresses mental illness and seeks to route cases from the courts to the hospitals. In the end, the Mayor's program serves everyone well. First, a person that finds themselves arrested and suffering with mental illness has an opportunity to get regulated prior to sentencing. Secondly, it helps reduce the burden on our penal justice system, and ultimately will save dollars for all tax payers. The "Safe 'til Stable" program provides critical information that first responders will use to determine the routing of certain people who find themselves approached by law enforcement. All involved with the Jericho Project, the National Bipolar Foundation and the MedicAlert Foundation recognize the "Safe 'til Stable" program as a logical progression to properly assessing situations that may revolve around law enforcement. Other supporters who will be in attendance are Michael Labonte of the Memphis Crisis Center, Dr. James Greene, Chairman of the University of Tennessee Department of Psychiatry, and Dr. Kennard Brown, Vice Chancellor at UT Health & Science Center.

www.nationalbipolarfoundation.org

SOURCE National Bipolar Foundation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2009) - Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX VENTURE: RDK)(FRANKFURT: QF7) further to the Company's news release of November 10, 2009 announcing a non-brokered private placement (the "Private Placement") it has increased the private placement to 4,687,500 units at a price of $0.16 per unit to raise gross proceeds of $750,000. Each unit consists of one common share and one transferable common share purchase warrant. Each share purchase warrant will be exercisable into one additional common share for a period of two years at a price of $0.20 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.

The Company has granted to consultants and insiders a total of 2,000,000 incentive stock options at a price of $0.22 per share subject to normal vesting arrangements. The option grants are subject to TSX Venture Exchange approval.

The Company has terminated its Investor Relations Agreement (the "Agreement") with Gale Capital Corporation ("Gale Capital") as announced on September 14, 2009 and has cancelled the 700,000 incentive stock options granted to Gale Capital as part of the Agreement.

About Redhawk

Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The Company also has a gold/silver property in Nevada.

The 100% owned Copper Creek property consists of approximately seven square miles of almost totally contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure.

ON BEHALF OF THE BOARD

J. Stephen Barley, Managing Director

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Redhawk Resources, Inc.
        J. Stephen Barley
        Managing Director
        604.633.5088

        Redhawk Resources, Inc.
        Tasso Baras
        Investor Relations
        604-738-3882 or Toll Free: 778-738-3882
        inquiries@redhawkresources.com
        www.redhawkresources.com

Source: Redhawk Resources, Inc.

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 11/11/09 -- Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX VENTURE: RDK)(FRANKFURT: QF7) further to the Company's news release of November 10, 2009 announcing a non-brokered private placement (the "Private Placement") it has increased the private placement to 4,687,500 units at a price of $0.16 per unit to raise gross proceeds of $750,000. Each unit consists of one common share and one transferable common share purchase warrant. Each share purchase warrant will be exercisable into one additional common share for a period of two years at a price of $0.20 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.

The Company has granted to consultants and insiders a total of 2,000,000 incentive stock options at a price of $0.22 per share subject to normal vesting arrangements. The option grants are subject to TSX Venture Exchange approval.

The Company has terminated its Investor Relations Agreement (the "Agreement") with Gale Capital Corporation ("Gale Capital") as announced on September 14, 2009 and has cancelled the 700,000 incentive stock options granted to Gale Capital as part of the Agreement.

About Redhawk

Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The Company also has a gold/silver property in Nevada.

The 100% owned Copper Creek property consists of approximately seven square miles of almost totally contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure.

ON BEHALF OF THE BOARD

J. Stephen Barley, Managing Director

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Redhawk Resources, Inc.
J. Stephen Barley
Managing Director
604.633.5088

Redhawk Resources, Inc.
Tasso Baras
Investor Relations
604-738-3882 or Toll Free: 778-738-3882
inquiries@redhawkresources.com
www.redhawkresources.com