News Release

Vancouver – The British Columbia Securities Commission has settled with a former director of a TSX Venture Exchange-listed company for failing to properly disclose company payments for investor relations activities.

Peter William Dunfield cannot be a director or officer of any issuer nor can he engage in any investor relations activities for at least three years. He has also agreed to pay the BCSC $10,000.

In the settlement with the BCSC, Dunfield admitted that he breached securities laws when he allowed Jalna Resources Ltd. to file inaccurate or inconsistent financial statements that failed to properly account for an investor relations contract. Dunfield was a director of the public company during the period when Jalna failed to properly disclose details about an agreement for investor relations services that Jalna had with Incite Marketing Group Inc., a private company owned by Daniel Brennan Matthews. Matthews was Jalna’s chief executive officer, president or a director during this period.

In March 2000, Matthews directed Jalna to advance $350,000 (U.S.) to Incite for investors relations services. Dunfield was one of the signatories on the cheques issued by Jalna to Incite. Jalna did not publicly disclose this agreement or file details of it with the TSX Venture Exchange as required. Jalna did not file a material change report with the BCSC describing the agreement as required under securities laws.

Neither  Jalna, Matthews nor Dunfield disclosed that the agreement was a non arm’s-length transaction and there was no written, signed contract detailing the nature or the specific services that Incite was to provide Jalna. Dunfield, as a director of Jalna, was responsible for the company breaching securities laws and stock exchange regulations. Dunfield was a director of Jalna from August 1999 to December 2004.

In March 2005, Matthews settled with the BCSC on this matter and he agreed to pay $25,000 and was prohibited from being a director or officer, and not to engage in any investor relations activities for at least five years.

The B.C. Securities Commission is an independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, Peter William Dunfield or 2005 BCSECCOM 271. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.