Second north county casino announced

American Vantage Companies announced that its majority-owned subsidiary, Brownstone GoldTown, LLC ("Brownstone GoldTown"), is finalizing pre-development and reviewing financing proposals from various institutional funding sources for the permanent financing of a hotel and casino project to be located in Douglas County (within minutes of Nevada's capital, Carson City). This northwestern Nevada project is a joint venture with RFG Gaming & Hospitality, LLC, as well as certain non-affiliated investors.

In addition to Brownstone GoldTown's equity ownership in the Brownstone GoldTown Hotel and Casino Resort, Brownstone GoldTown is expected to receive to-be negotiated development and management fees from the hotel and casino operations.

Construction is expected to begin by late-2007 and to open in 2009 with an estimated Phase I construction cost of $125 million.

The preliminary plans for Phase I of the GoldTown Hotel and Casino Resort project (the "Project") includes:

- 300 hotel rooms and suites

- 92,000 square feet of casino space

- 1,000 slot and video poker machines with further expansion to 2,500 machines

- 24 to 30 table games

- 350-seat Bingo parlor

- 6-table Poker room

- Race and Sports Book

- 250-seat celebrity concert stage and lounge

- Restaurants

- Convention facility and other recreational and support amenities

- 50,000 square feet of retail indoor outlet shopping

Phase II of the Project is expected to include:

- Additional rooms

- Twelve-screen multi-digital cinema complex

- Special events center

- Parking structure

- Additional 50,000 to 100,000 square feet of commercial retail space, multi-use space and multiple family and specialty restaurants

Brownstone GoldTown has also entered into an option agreement, expiring in January 2008, for the planned Project site located on a 45+ acre parcel. The site has been approved for gaming purposes and is located in Douglas County on Interstate Highway 395, the east/west route between Sacramento and San Francisco, California and Reno, with nearby access to State Highway 50 (to Lake Tahoe).