Global Development Resources, Inc.
TSX VENTURE : GDV.U

December 21, 2007 16:30 ET

Global Development Resources, Inc. Announces the Renewal of its Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2007) - Global Development Resources, Inc. ("GDR") (TSX VENTURE:GDV.U) announces that it has been authorized by the TSX Venture Exchange to make a normal course issuer bid. GDR intends to purchase from time to time, if and to the extent GDR considers advisable, up to a maximum 1,562,314 common shares out of the total 31,246,282 issued and outstanding on December 21, 2007. The number of shares proposed to be acquired represents approximately 5% of the total number of the issued and outstanding subordinate voting shares. The bid will commence on December 27, 2007 and end on December 26, 2008.

The shares will be purchased in the open market through the facilities of the TSX Venture Exchange. The purchased shares are to be cancelled. All purchases are to be settled in accordance with normal settlement procedures of the TSX Venture Exchange. Purchases pursuant to the bid will be made by MacDougall, MacDougall & MacTier Inc. on behalf of GDR. GDR has a policy of maintaining a normal course issuer bid on its common shares. Through a normal course issuer bid during the period December 20, 2006 to December 19, 2007, GDR purchased and cancelled 693,000 common shares at an average cost of $0.29.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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