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Trading symbols: TSX: GBG / AMEX: GBN / JSE: GBGOLD
www.grtbasin.com / gbgold.mobi
Dear subscriber
Date: 18/06/2008
Great Basin Gold's Hollister Project Increases Measured and Indicated Resources by 60% to 1.6 Million Ounces
June 18, 2008, Vancouver, BC - Great Basin Gold Ltd. (TSX: GBG; AMEX: GBN; JSE: GBG) announced today that underground drilling has expanded and upgraded the mineral resources in the measured and indicated category at the Company's Hollister Project on the Carlin Trend in Nevada, USA by 60% from 1 million to 1.6 million ounces. Overall the mineral resources increased by 15% from 2 million to 2.3 million ounces.
Further exploration and infill drilling, totaling approximately 30,000 feet and adding to the 55,000 feet completed for the Feasibility Study, was completed in the period from March 2007 to January 2008 to fill in gaps and to explore the deeper parts of the deposit. Results of the resource estimates based on this drilling at a range of cut-offs are tabulated below. At a 0.25 oz/ton cut-off, approximately 1.6 million gold equivalent ounces are contained in estimated measured and indicated resources of 1,615,000 tons at a grade of 0.87 oz/ton. A further 680,000 gold equivalent ounces are contained in inferred resources of 1,252,000 tons at a grade of 0.51 oz/ton.
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Please feel free to contact our investor relations team at the following numbers,
Tsholofelo Serunye
Great Basin Gold : Investor Relations Officer
Office: +27 11 301 1800
Fax: +27 11 301 1840
tsholos@gbgold.co.za
or
Ann Rippon
North America
Tel: +1 604 633 9113
Fax: +1 604 633 0190
Email: annr@gbgold.co.za
or
Barbara Cano
Office: +1 646 452 2334
Fax: +1 646 452 2331
bcano@breakstone-group.com