Master Plan Approval

Jumbo Glacier Resort Receives Master Plan Approval

July 31, 2007

Vancouver & Invermere, B.C. — The Jumbo Glacier Resort project team is very pleased to announce the project’s Master Plan approval from the Ministry of Tourism, Sport, and the Arts.

“Ministry officials worked hard and worked well throughout the process and we thank them for their efforts,” said Grant Costello, Vice-President of Glacier Resorts Ltd.

“They consulted with the First Nations and others during their work, and look forward to including the results of these consultations in the Master Development Agreement, which is the next key step for the project. We expect to conclude the MDA in the next few months,” he continued.

Over the last 17 years this project has been approved by three major reviews, including the Commercial Alpine Ski policy, the local CORE land use planning process of the East Kootenay Table, and the Environmental Assessment Act certification. The Master Plan is another step forward.

The project represents an investment of $900 million in 2007 dollars, about 750 permanent direct jobs, and 3,750 person-years of construction work. At build-out it will feature 6,250 beds (including 750 employee beds), comprising approximately 1,360 units and two hotels.

The vision for Jumbo Glacier Resort is for a world-class, destination ski resort featuring the best snow and views, access to year round skiing on glaciers, and best skiing climate in North America.

The project has undergone the most thorough environmental review of any tourism project in BC history. Careful steps have been taken to ensure that the resort has the smallest possible footprint in the valley and that key environmental values are protected.