Chilco River Holdings To Re-Open Bruce Casino In 2007

Chilco River Holdings Inc. (OTCBB: CRVH) is pleased to announce that it has reached an agreement in principal to secure the necessary funding to complete the renovation of its successful Bruce Hotel and Casino. Under this arrangement - which allows for equity funding up to $10,000,000 with the first $1,000,000 due this month - Chilco will be able to proceed with the Bruce’s grand re-opening scheduled for August.

The Bruce Hotel and Casino is a “destination” hotel and casino located in Lima, Peru which offers a variety of restaurants and gaming casino to its clientele. Before its closing for renovations, the casino was thriving, with revenues in excess of $10,000,000 and profits in excess of $4,000,000.

“This funding allows us to devote our attention to the renovation and ’Grand Re-Opening’ of the casino,” stated Tom Liu, Chief Executive Officer, Chilco River Holdings. “The completion of the remodeling effort will further enhance our first-rate facilities and allow us to significantly increase our income. We are pleased that we will also be able to keep the hotel up and running throughout this process.”