News Release

Vancouver – The British Columbia Securities Commission disciplined a company president for illegally selling shares and not filing his insider reports.

Christopher Fung has entered into a settlement with the BCSC. Fung agreed to pay $9,000 to the BCSC and he cannot act as an officer or director of any public company, except GHG Resources Limited, for at least one year.

Fung is the president, a director and the controlling shareholder of GHG Resources, a TSX Venture Exchange-listed company. In 2003 and 2004, Fung contravened the Securities Act when he:

• illegally sold 121,500 shares of GHG Resources on the exchange without filing a prospectus or using an exemption,
• illegally sold 600,000 shares of GHG Resources on the exchange without relying on the control person exemption properly, and
• did not file insider reports for his purchases and sales of GHG Resources shares.

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, Christopher Fung or 2004 BCSECCOM 660. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.