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Updated: July 8th, 2008 05:26 PM CDT

iFire's TDEL Technology Recognized as a Key Flat Panel Display Technology by Chinese Government

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iFire Technology is currently engaged in pilot operations as part of thefirst phase of commercialization. Through the pilot facility, iFire intends tocomplete the baseline processes for the manufacture of its displays and focuson continual improvements to both performance and manufacturing efficiency. The pilot plant will provide information and experience to allow iFire to work with partners to construct and operate the first volume production facility.

The pilot facility is intended to simulate manufacturing in a commercial environment in order to generate repeatability data and engineering samples of high-definition 34-inch flat panel display modules based on its proprietary TDEL technology.

iFire Technology Corp. has developed a flat panel television display with low-cost and high performance potential called thick dielectricelectro luminescent technology (TDEL). With superior video performance characteristics and a cost advantage over other flat panel display technologies, iFire's proprietary TDEL technology has the potential to become an affordable, high performance alternative for the consumer flat panel television market. iFire plans to initially target the mid 30- to mid 40-inch screen size segment of the flat panel television market in partnership with major consumer electronics companies.

In addition to iFire Technology, The Westaim Corporation's technology investments include NUCRYST Pharmaceuticals Corp. (NASDAQ: NCSTV; TSX: NCS),which develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Westaim's common shares are listed on NASDA Qunder the symbol WEDX and on The Toronto Stock Exchange under the trading symbol WED.

This news release contains forward-looking statements. These statements arebased on current expectations that are subject to risks and uncertainties, and neither Westaim nor iFire can give assurance that these expectations are correct. Various factors could cause actual results to differ materially from those projected in such statements, including but not limited to statements involving the emphasis that China will place on certain technologies or Chinese interest in certain technologies including TDEL, the endorsement of TDEL by the Chinese government, potential or expected iFire commercialization and partnering activities and strategies, iFire's initial target market for its displays, the completion of baseline manufacturing processes for iFire displays and the focus of pilot production, the information and experience anticipated from the iFire pilot plant and intentions related to the use of that plant, statements related to planning for iFire's first volume production facility,the performance and cost characteristics of iFire's displays, iFire's progress toward engineering samples of its flat panel displays, and the potential foriFire's technology. Westaim and iFire disclaim any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.


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