News Release

Vancouver – The president of a B.C.-headquartered company has been banned from the securities market for four years and ordered to pay $15,000 to the B.C. Securities Commission for his failure to file insider reports.

In a settlement reached with the BCSC, David Howard Stone, president and a director of Kensington Resources Ltd., admitted that from June 1997 to December 2000, he failed to file insider reports documenting transactions that represented over 17 per cent of the trading volume of Kensington’s securities on what is now known as the TSX Venture Exchange.

Under Stone’s four-year ban, he may only continue as a director and officer of Kensington if he completes a course of study on the duties and responsibilities of directors and officers within the next 12 months. He may only trade in his own accounts through a registered dealer.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the settlement can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Andrew Poon, Media Relations, 604-899-6880.