ASC seeks bans against Steven Peter Kyllo, Mercury Capital S.A., Moenkopi
Resources Inc. and Frey Mining Company Ltd.

CALGARY, Dec. 23 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Steven Peter Kyllo, Mercury Capital S.A., Moenkopi Resources Inc. and Frey Mining Company Ltd.

In its November 16, 2010 decision, the BCSC states that Kyllo used Frey Mining Company, Moenkopi Resources and Mercury Capital S.A. to raise US$1.14 million from investors in British Columbia, Alberta, Ontario and the United States. The BCSC found that Kyllo perpetrated a fraud when he lied to investors, used investors' funds to enrich himself and his family members, and for other purposes.

The ASC seeks reciprocation of the BCSC order to protect Alberta investors and the Alberta capital market.

It is anticipated that the ASC panel will consider this application in January 2011.

A copy of the Notice of Hearing is available on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.  As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For further information:

For Media Inquiries:	Mark Dickey Senior Communications Advisor     403-297-4481
For Investor Inquiries:	ASC Public Inquiries     Toll Free 1-877-355-4488