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NEWS RELEASE


February 8, 2007

GHG Resources Limited (“GHG”) is pleased to announce that, further to its news releases of November 15, 2006, December 20, 2006 and January 25, 2007, it has completed:

  1. its private placement of 20,000,000 units, at $0.60 per unit, for aggregate proceeds of $12,000,000; and
  2. the acquisition from Global Copper Corp. (“Global”) of all of Global’s interest in the Vizcachitas property located in Region IV, Chile. Global is listed on the TSX under the symbol GLQ.

As consideration for the acquisition, GHG has paid US$10,400,000 and issued to Global 6,280,000 shares and 3,900,000 share purchase warrants in the capital of GHG. Each warrant is exercisable for a period of three years from the date of issuance and entitles Global to acquire one additional share of GHG at a price of $1.00 per share. A finder’s fee of 1,500,000 common shares was paid by GHG in connection with the acquisition.

Each unit issued under the private placement consisted of one common share and one common share purchaser warrant exercisable at $1.00 per share for a period of 12 months. If at any time following the expiration of the four-month hold period the closing price of GHG’s shares is at least $1.25 per share for 10 consecutive trading days, GHG will have the right to notify the purchasers that the expiry date for the exercise of the Warrants will be shortened to not less than 30 days. In connection with the private placement, GHG paid aggregate finder’s fees of 1,382,383 units, each unit having the same terms and conditions as those sold in the private placement.

All securities issued as referenced above are subject to a four month hold period expiring June 8, 2007.

ON BEHALF OF THE BOARD

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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