WEE Wavefront Technology Solutions Inc

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Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX
VENTURE:WEE), the leader in fluid injection optimization for improved
performance and profitability in the oil and environmental sectors, is pleased
to announce its financial results for the third quarter ending May 31, 2011
which saw a compounded growth rate of gross revenues of 74% over the period of
May 31, 2009 to May 31, 2011.


Financial highlights include:



--  Revenues for the nine months ended May 31, 2011 were $3,075,359, an
    increase of $1,304,456 over the comparative period in 2010 ; 
    
--  Service revenues and royalties for the nine months ended May 31, 2011
    related to Powerwave, Primawave, tubing pumps and bailers totalled
    $2,710,624, compared to core revenues of $1,571,411 for the comparative
    period; 
    
--  The basic and diluted net loss for the nine months ended May 31, 2011
    decreased by $1,640,938 to $3,276,869 ($0.04 per share), compared to
    $4,917,807 ($0.07 per share) in 2010 representing a 33.4% decrease in
    net losses; 
    
--  Revenues for the three months ended May 31, 2011 were $1,147,291, an
    increase of $453,353 over the comparative period in 2010 and, 
    
--  The basic and diluted net loss for the three months ended May 31, 2011
    decreased by $891,581 to $929,407 ($0.01 per share), compared to
    $1,820,988 ($0.02 per share) in 2010 representing a 49% decrease in net
    losses. 



Operational highlights of the third quarter ended May 31, 2011 included the
Corporation securing 4 key Powerwave contracts totaling 24 tools as follows:




--  A six tool Powerwave contract with the largest oil production company in
    the Sultanate of Oman; 
    
--  A Powerwave contract with Plus Petrol in Argentina; 
    
--  A Powerwave contract with Clayton Williams in Texas; and, 
    
--  An 11 tool, three field Powerwave contract with a major Calgary-based
    oil producer. 



Also in the third quarter ended May 31, 2011 the Corporation commenced the 31
Powerwave tool expansions with the Eastern Alberta client. The Corporation is
still working with the client on the finalization of the balance of the planned
expansion.


Subsequent to the reporting quarter, the Corporation received a master service
agreement from an existing Texas client to expand Powerwave implementation to
its light-oil waterflood operations in Lost Hills, California. The Lost Hills
project is designed to use Powerwave to reduce production decline rate, extend
field life, and increase oil recovery factor. Given geological complexity well
density is high with well spacing in the Lost Hills production areas ranging
from 1.25 acres to 5 acres thus presenting a large opportunity for the
Corporation in both Powerwave stimulation as well as waterflooding programs.


"I am very encouraged by the progress Wavefront continues to make," said
Wavefront Chairman, Steve Percy. "Revenues have been increasing rapidly, and
operating performance when measured by 'cash from operating activities' has
improved vastly over past reporting periods. In addition, our working capital
position remains very strong and ready to fuel further growth. We have added
significant strength to our Board with the additions of Jeff Saponja and John
Zahary, and we are also adding new and experienced talent to our senior
management team. I feel confident that we have the ingredients to achieve
profitable growth."


The Corporation would also like to announce that it is launching a new video
forum to take questions from shareholders. Beginning September 2011, Wavefront
Management will respond to a maximum of 8 questions posed by shareholders with
the video replies appearing on the Corporation's updated website set to launch
the same month. Shareholders are encouraged to send monthly questions to
investor.info@onthewavefront.com. For a question to be considered the
shareholder posing the question must provide a valid email address and agree to
allow the Corporation to use his or her name and place of residence in the video
to be posted on Wavefront's website or any other external site such as YouTube.


"As a Corporation we are the forerunners of optimized injection to maximize
reservoir productivity. We also want to be on the leading edge of communications
and have launched a new initiative appointing a Corporate Communications
Coordinator and pursuing the best-in-class use of Twitter and LinkedIn as well
as revamping the Corporation's website for a better client and shareholder
experience," said Wavefront President and CEO, Brett Davidson.


ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront: 

Wavefront is a technology based, world leader in fluid injection technology for
improved/enhanced oil recovery and groundwater restoration. Wavefront publicly
trades on the TSX Venture Exchange under the symbol WEE and the Company's
website is www.onthewavefront.com.


Cautionary Disclaimer - Forward Looking Statement

Certain statements contained herein regarding Wavefront and its operations
constitute "forward-looking statements" within the meaning of Canadian
securities laws and the United States Private Securities Litigation Reform Act
of 1995. All statements that are not historical facts, including without
limitation statements regarding future estimates, plans, objectives, assumptions
or expectations or future performance, are "forward-looking statements". In some
cases, forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential", "believe", "continue" or the negative of these terms or
other comparable terminology. We caution that such "forward-looking statements"
involve known and unknown risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated in such
statements. Such factors include fluctuations in the acceptance rates of
Wavefront's Powerwave and Primawave Processes, demand for products and services,
fluctuations in the market for oil and gas related products and services, the
ability of Wavefront to attract and maintain key personnel, technology changes,
global political and economic conditions, and other factors that were described
in further detail in Wavefront's continuous disclosure filings, available on
SEDAR at www.sedar.com. Wavefront expressly disclaims any obligation to up-date
any "forward-looking statements", other than as required by law.

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