Partners to Merge CSCRF and Faircourt Flow-Through Funds


    -   Canadian Small Cap Resource Funds 2006 No. 1 LP

    -   Canadian Small Cap Resource Funds 2006 No. 2 LP

    -   Canadian Small Cap Resource Funds 2007 No. 1 LP

    -   Canadian Small Cap Resource Funds 2007 No. 2 LP

    -   Faircourt-Canadian Small Cap Resource Funds 2008 No. 1 LP

    TORONTO, June 2 /CNW/ - The General Partners of the existing CSCRF and
Faircourt/CSCRF funds have mailed to all flow-through Limited Partners
outlining the intention, and seeking unit-holder permission, to merge the
above flow through funds. If approved, the Merger will consolidate up to five
Partnerships into a single fund to be called the Faircourt Resource Fund.
    The Fund will manage all of the assets of each of the approving
Partnerships, based on a vote of Limited Partners to take place in June.
    There are a number of benefits for investors to vote for the merger into
the Faircourt Resource Fund. Benefits include; a reduction of costs, a tax
deferred exchange, as well as continued participation in the market with
greater liquidity over time. Finally, Faircourt Resource Fund provides
investors with access to sound management and an expanded investment mandate.
    The Fund will be managed by Faircourt Asset Management Inc. The Lead
Portfolio Manager at Faircourt is Douglas Waterson. In addition to his duties
in the fund, Mr. Waterson is also the Lead Portfolio Manager for Faircourt
Gold Income Corp. (FGX), a TSX listed closed-end fund that has leading
performance in the precious metals equity sector since inception of the FGX in
November 2007.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale or any acceptance
of an offer to buy these securities in any jurisdiction in which the
securities are not qualified for sale.

    %SEDAR: 00025881E

For further information:

For further information: Charles Taerk, President, or Douglas Waterson,
CFO, Faircourt Asset Management Inc at (416) 364-8989 or 1-800-831-0304; or
contact Rick Peterson, President, Peterson Capital, (604) 684-2883,

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Faircourt Gold Income Corp.

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Faircourt Asset Management Inc.

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