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November 21, 2006

TSX.V Symbol: GHG

GHG Resources Limited (the “Company”) is pleased to announce a non-brokered private placement comprising of 20,000,000 units (“Units”) at a price of $0.60 per Unit for gross proceeds of $12,000,000. Each Unit is comprised of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $1.00 for a period of one year from the date of issuance. Following issuance of the securities, if at any time following the expiration of the four month hold period, the closing price of the Company’s common shares is at least $1.25 per share for 10 consecutive trading days, the Company shall have the right to notify the purchasers that the expiry date for the exercise of the Warrants will be shortened to 30 days. There will be 7% finder’s fees payable in connection with the private placement, payable in cash and/or Units.

The proceeds of the private placement will be used by the Company to finance its obligations to Global Copper Corp. (“Global”) pursuant to its news release dated November 15, 2006 in which it announced that it had signed a letter of intent with Global for the Company to be granted an option on Global’s 76% effective interest in the Vizcachitas property located in Region IV, Chile; and for general working capital purposes.

The private placement is subject to acceptance by the TSX Venture Exchange.


Christopher Fung

Christopher Fung
President and Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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