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2005 Jumbo Glacier Resort Master Plan submitted for approval

September 12, 2005

Vancouver & Invermere, B.C. -- On behalf of Glacier Resorts Ltd., Pheidias Project Management Corp. has submitted the 2005 Jumbo Glacier Resort Master Plan to Land and Water British Columbia Inc. The Master Plan was submitted on August 26, 2005 in fulfilment of the requirements of the Commercial Alpine Ski Policy (CASP) of British Columbia.

Jumbo Glacier Resort is a planned year-round ski resort that is centred on an abandoned sawmill site 36 kilometres from Panorama, B.C. in the heart of the Purcell Mountains. At buildout, the boutique-sized resort will have 5,500 visitor beds and will offer access to 3,400 meter (11,150 feet) high glaciers for year-round skiing and sightseeing. It will feature a 100% natural snow winter vertical drop of 1,700 meters (5,500 feet), and a mid-summer vertical drop of up to 700 meters (2,300 feet).

"We are looking forward to a prompt project start," says Grant Costello, Vice-President of Glacier Resorts Ltd. The Master Plan submission follows the issuance of an Environmental Assessment Certificate by the Province of British Columbia and is the culmination of fifteen years of research, design, planning and study. It outlines the vision for what is designed to be the prime year round skiing and sightseeing destination in North America. "It will be the only permanent North American summer training facility that Canada's snow-sports athletes have been seeking since the mid-1970s," adds Costello.

Costello notes that following nine years of review under the Environmental Assessment Act (EA Act), the project proposal was found to be "in the broad public interest" by the Environmental Assessment Office. He adds, "this is a confirmation of a fifteen-year effort to deliver a truly unique and prime project for the future of British ColumbiaÕs mountain resort community and tourism industry."

The Master Plan approval application under CASP was initiated following the Interim Agreement signed with the Province in 1993. It was delayed while a land use review exercise was undertaken by the Commission on Resources and the Environment (CORE) and by the EA Act review process that came into effect in 1995. The CORE process resulted in a favourable Land Use decision that was confirmed by the EA Act review process.

"We wish to take this opportunity to thank the project consultants, project supporters, First Nations, and the ministers, directors and staff of provincial ministries and agencies for their contributions and efforts in preparing and reviewing the work leading to this Master Plan," says Costello.

Following the Master Plan approval process, the project will enter into a Master Development Agreement process. The 2005 Master Plan is available for download from the project website.

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