T-Ray Science Closes Oversubscribed Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - August 12, 2010) - T-Ray Science, Inc. (TSX VENTURE: THZ) announces that further to its press release of July 14, 2010, it has completed its previously announced private placement of 3,000,000 units (“Units”) at a price of $0.22 per Unit. The Company reports that the private placement has been over-subscribed by 520,955 Units, resulting in the issuance of an aggregate of 3,520,955 Units for gross proceeds of $774,610. Each Unit consists of one common share of the Company and one half common share purchase warrant, each full warrant entitling the holder thereto to acquire a common share at a price of $0.30 for a period of 12 months from the date of issuance.

In addition, the Company has paid commissions and finder’s fees consisting of an aggregate of $47,888.80 and 217,676 broker and finders warrants to parties that referred subscribers to the Company. Each broker or finder warrant entitles the holder to acquire a common share at price of $0.30 for a period of 12 months from the date of issuance.

The securities issued are subject to a four month hold period from the date of issuance. Completion of the private placement is subject to final acceptance of the TSX Venture Exchange.

About T-Ray Science, Inc.

T-Ray Science, Inc. is a medical device company centered on the commercialization of an innovative skin cancer detection system for the early diagnosis and treatment of all significant forms of skin cancer. (Including: melanoma, basal cell carcinoma and squamous cell carcinoma).

The Company’s patented imaging and spectroscopy technologies are the foundation for the development of the Company’s non-invasive, in vivo skin cancer detection and delineation system. This diagnostic tool will deliver significant clinical impact through improved patient outcomes, and will reduce healthcare costs by eliminating the need for most biopsies. The platform technology is extensible to other forms of cancer including gastro-intestinal and cervical cancers.

Forward Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of THz based products, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.