ASC Seeks Trading Ban Against B.C. Resident John Gregory Paterson

CALGARY , Oct. 8 /CNW/ - The Alberta Securities Commission (ASC) is applying to reciprocate an order imposed by the British Columbia Securities Commission (BCSC) against British Columbia resident John Gregory Paterson .

The June 24, 2009 BCSC order permanently prohibits Paterson from trading in securities and acting as a director or officer of any issuer as a result of his involvement in materially overstating gold grades reported in Southwestern Resources Corp. news releases between 2004 and 2007 and participating in a securities fraud under British Columbia securities laws.

Southwestern Resources' securities were also publicly traded in Alberta during this period.

It is anticipated that the ASC panel will consider this application in December, 2009.

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, [phone]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488