Golden Opportunities Fund Invests $3 Million To Clean Up The Environment

December 15, 2005

Release Date: December 15, 2005

Golden Opportunities Fund Inc. is pleased to announce it has completed an investment of $3 million by way of senior secured debenture in Phase Separation Solutions Inc., a new enterprise that specializes in the treatment of soils and recovery of hydrocarbons from industrial sludges utilizing a state of the art patented technology. Golden Opportunities’ funds were used to construct a new soil reclamation facility located at Wolseley, Saskatchewan using a thermal phase separation technology that is recognized as an environmentally friendly solution to the remediation of contaminated soils. The facility was fully commissioned and became operational as of October 2005.

Golden Opportunities Fund’s CEO and Chairman, Grant Kook, states “Environmental reclamation is priority among governments today as witnessed by the 2004 budget when the Canadian Government pledged $3.5 Billion over the next ten years for environmental clean up. This new facility located in Saskatchewan will incorporate among other things the latest in technology in remedial reclamation of soils. Phase Separation Solutions Inc. has already secured several service contracts in hand, ensuring an exciting future.” Chairman of the Board of Phase Separations Solutions Inc., Faramarz Bogzaran, states “We are pleased to have been able to locate and construct this new remediation facility in rural Saskatchewan creating new full-time employment to Saskatchewan residents. Throughout the construction of the facility and fabrication of our specialized treatment equipment, we worked closely with Saskatchewan fabricators and construction contractors. The new facility is fully commissioned and expected to clean 12,000 tonnes of soil in its first year of operations.”

Golden Opportunities Fund Inc. is Saskatchewan’s first and largest Provincial Labour-sponsored Fund, having raised over $63 million in share capital to date from approximately 10,000 shareholders. The company has completed 71 investment transactions in 47 different Saskatchewan growth companies across 11 different industry sectors for diversification, impacting the future of Saskatchewan.

For additional information please contact Mr. Grant Kook, CEO/Chairman of Golden Opportunities Fund Inc. at (306) 652-5557.

Saskatchewan Financial Services Commission has neither approved nor disapproved the information contained herein.