News Release

Vancouver - The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a B.C. man and two companies he controlled devised and implemented a scheme to sell securities to overseas investors.

The notice alleges Rocky Mountain Gold Mining Inc., a Delaware, U.S. company, entered into an agreement to allow a Panamanian company to purchase its shares. On Rocky Mountain's behalf, the Panamanian company issued approximately $2.4 million worth of Rocky Mountain shares to 166 United Kingdom investors. Further, the notice alleges that partial proceeds from the sales of shares were to be sent to a bank account maintained by RMG Mining Inc., a B.C.-based company.

The notice also says Ryan Anthony Gibson, a Vancouver, B.C. resident, was the sole officer and director of Rocky Mountain and RMG. Gibson, Rocky Mountain and RMG are not registered to trade securities in B.C. Furthermore, Rocky Mountain has not filed a prospectus in B.C.

The notice alleges Gibson, Rocky Mountain and RMG contravened various securities laws by engaging in the conduct described above, without being registered or filing a prospectus.

These allegations have not been proven. Counsel for the executive director will apply to set dates for a hearing into the allegations before a panel of commissioners on Tuesday, March 3, 2009 at 9:30 a.m.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view notices of hearings on our website www.bcsc.bc.ca. If you have questions, contact Ken Gracey, media relations, 604-899-6577.