SOURCE: Great West Gold, Inc.

August 30, 2006 12:05 ET


PHOENIX, NORWAY -- (MARKET WIRE) -- August 30, 2006 --

NEW YORK, August 30, 2006 - Great West Gold, Inc. (OTC Pink Sheets:GWGO.PK) confirms that the Company is now at an advanced stage in the acquisition of additional Mining Exploration Companies and expects to announce the acquisitions early next week.

These acquisitions will substantially increase the Company's interests in Copper with four additional Copper properties, in Gold with an additional nine interests, one of these properties being very substantial and one additional property with Uranium potential.

The costs of these acquisitions will not be primarily funded through the issue of Common Stock but through Convertible Loan Notes to avoid further dilution of stockholders' interests.

The Company will publish a detailed announcement early next week at such time as these acquisitions are completed.

The significant increase in Commodity prices, primarily in Gold, Silver and Copper; have dramatically increased the valuation of the Group's Mining Assets. Management of your Company is fairly convinced that these Commodity prices are not only sustainable in the short to medium term but that the price of Gold in particular, will continue to rise. Management feels that these further acquisitions in Gold, Copper and Uranium will add significant value to the Company in the years ahead.

About Great West Gold, Inc.

Great West Gold, Inc.,, a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company has Gold assets through its holdings in "Bouse", "Mockingbird", "Ambassador", "Yaba", "Golden Eagle" and "South Copperstone" and Copper assets through its holdings in "Copper Mountain". The Company holds five of these Mining Assets through its 48% holding in Bouse Mining Holdings plc, Copperstone Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc and in Sentinel Resource Holdings plc. The other three projects are 100% controlled by the Company.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.


Great West Gold, Inc.

Tel : + 44 845 127 4051

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