Check here:
http://www.canadiangunnutz.com/forum/showthread.php?t=576590
In short, buy a container of
Circa 1850 Heavy Body Paint and Varnish Remover to strip that ugly factory/refurb shellac coat (easy job, just do it under
well ventilated conditions), and a container of
Circa 1850 Tung Oil. Easy to apply. Just read the instructions and have at it !! Russian (arctic) birch and Chu-wood have lots of potential. BTW, you may need to lightly sand to take out some of the surface imperfections (recommended).
...and your handguard can look like this: