Great Western Mining Corporation plc
LSE : GWMO

May 31, 2011 02:00 ET

Audited Final Results for the year ended 31st December 2010

31 May 2011

                                 GREAT WESTERN MINING CORPORATION PLC.

                           ("Great Western Mining", "GWM" or the "Company")

                      Audited Final Results for the year ended 31st December 2010


Chairman's Statement

For  the  past  six years Great Western Mining Corporation Plc and its wholly owned Nevada  subsidiary
have been accumulating a database of geochemical, geological, aeromagnetic, and most recently NASA Jet
Propulsion  Laboratory  (NASA-JPL)  aerial  reconnaissance  work  relating  to  the  unique   physical
characteristics of the Huntoon Valley and the Excelsior Mountain Range in South Central Nevada,  known
as  the Marietta Project. This work has been augmented by a multi-year program of pit work, trenching,
several hundred samples and laboratory bottle leach testing.

In  addition to the statistical database assembled, the Company has tapped into a database of personal
knowledge, experience, and academic expertise relating to the mineral exploration and exploitation  of
this  region  going  back several generations. With 85% of the surface area of  the  State  of  Nevada
classified as public land, a great deal of geological information is available from public bodies, the
University of Nevada McKay School of Mines, and records of past endeavours.

From  the  first 21 mineral claims staked in 2006 (approximately 20 acres per claim) the  Company  now
holds  410 full or fractional claims. At present, some 485 additional mineral claims are being staked.
When completed this will bring the total area under claim to approximately 70 square kilometres.

Next Stage of Development:

Having  secured  what  we believe is a strategic land position in this highly prospective  area,  your
Management is now shifting gears. The Company commissioned a study of the project area utilising  NASA
JPL's  ASTER  program (Advanced Spaceborne Thermal Emission Reflectance Radiometer) and the  resulting
process of target selection is now underway. Generally, a target is chosen if it meets three following
criteria:

    1.      Alteration  appears to be intense, persuasive and/ or concentric occurrences  of  multiple
            minerals,

    2.      Associates with known faults, lineaments, or circular structures, and

    3.      Not too huge to correspond to only large lithological units or cultural features.

A  number  of prospective targets have been identified and an Induced Polarisation ("IP") program  has
been contracted to determine core hole drilling locations for the first drill tests.

Having  assembled  a  land position worthy, in the Director's opinion, of a  company  many  times  our
present size, the Company is well situated to leverage its regional knowledge base to its advantage at
a  time when world metal prices are close to record highs. The demand for metals is likely to continue
strong due to the demand from emerging markets, particularly India and China.

Perhaps equally blessed is to hold this strategic land position in the politically secure and resource
rich state of Nevada, U.S.A.

Application to the Alternative Investment Market

To  assist in the broadening and deepening of the market in the Company's shares, and thus its ability
to  fund  its future plans, your Management and its financial advisors have put in motion the drafting
of  an  application  to  admit  the Company's shares to trading on the Alternative  Investment  Market
("AIM") in London.


Sincerely,

Emmett O'Connell
Chairman


                 Statement of Accounting Policies for the year ended 31 December 2010

Great  Western Mining Corporation Plc ("the Company") is a company incorporated in Ireland. The  Group
financial statements consolidate those of the Company and its subsidiary (together referred to as  the
"Group").

The accounting policies set out below have been applied consistently to all periods presented in these
consolidated financial statements.

Statement of Compliance

As  permitted  by the European Union, the Group financial statements have been prepared in  accordance
with  International  Financial  Reporting Standards (IFRSs) and their interpretations  issued  by  the
International Accounting Standards Board (IASB) as adopted by the EU (IFRS). The individual  financial
statements of the Company ("Company financial statements") have been prepared in accordance  with  the
IFRSs  as  adopted by the EU and as applied in accordance with the Companies Acts, 1963 to 2009  which
permits  a  company,  that  publishes its Company and Group financial  statements  together,  to  take
advantage  of  the  exemption in Section 148(8) of the Companies Act, 1963,  from  presenting  to  its
members its Company Statement of Comprehensive Income and related notes that form part of the approved
Company financial statements.

The  IFRSs  adopted  by  the EU as applied by the Company and the Group in the  preparation  of  these
financial statements are those that were effective on or before 31 December 2010.

Standards and amendments to existing standards effective 1 January 2010

The  following  standards,  amendments and interpretations which  became  effective  in  2010  are  of
relevance to the Group:


Standard                     Content                                 Applicable  for  years  beginning
                                                                     on/after

IAS1                         Presentation of financial statements    1 January 2010

IAS 36                       Impairment of Assets                    1 January 2010

IAS 39                       Financial Instruments: Recognition      1 January 2010
                             and Measurement

IFRS 8                       Operating Segments                      1 January 2010


Standards,  amendments and interpretations to existing standards that are not yet effective  and  have
not been adopted early by the Group


Standard/Interpretation      Content                                 Applicable  for  years  beginning
                                                                     on/after

IFRS 9                       Financial Instruments                   1 January 2013

IAS 24 *                     Related party disclosures               1 January 2011

IAS 32 *                     Classification of rights issues         1 February 2010

IAS 34 *                     Interim Financial Reporting             1 January 2011

IFRS 1 *                     Amendment: Limited Exemption from       1 July 2010
                             Comparative IFRS 7 Disclosures for
                             First-time Adopters

IFRIC 14 *                   Amendment: The Limit on a Defined       1 January 2011
                             Benefit Asset, Minimum Funding          
                             Requirements and their Interaction      

IFRIC 19 *                   Extinguishing financial liabilities     1 July 2010
                             with equity instruments

IFRS 7                       Amendment Disclosures: Transfer of      1 July 2011
                             financial assets

IFRS 3 *                     Business Combinations                   1 July 2010

IAS 27 *                     Consolidated and separate financial     1 July 2010
                             statements

*  Not  expected to be relevant to the Group, and therefore not to have a material impact on the Group
financial statements.


IFRS 9 'Financial instruments: Classification and measurement'

In  November  2009,  the  IASB  issued the first part of IFRS 9 relating  to  the  classification  and
measurement  of  financial assets.  IFRS 9 will ultimately replace IAS 29.  The standard  requires  an
entity  to classify its financial assets on the basis of the entity's business model for managing  the
financial  assets  and  the  contractual  cash  flow  characteristics  of  the  financial  assets,  an
subsequently measures the financial assets as either at amortised cost or fair value. The new standard
is mandatory for annual periods beginning on or after 1 January 2013.

Improvements for IFRS (issued in April 2009 and May 2010)

The  improvements project contains numerous amendments to IFRS that the IASB considers non-urgent  but
necessary.  'Improvements  to  IFRS'  comprise  amendments  that  result  in  accounting  changes  for
presentation,  recognition  or measurement purposes, as well as terminology  or  editorial  amendments
related  to  a variety of individual IFRS standards.  Most of the amendments are effective for  annual
periods  beginning on or after 1 January 2010 or 1 January 2011 respectively, with earlier application
permitted.  No material changes to accounting policies are expected as a result of these amendments.

In 2010, the Group did not early adopt any new or amended standards and do not plan to early adopt any
of the standards issued but not yet effective.

Basis of Preparation

The  Group  and Company financial statements are prepared on the historical cost basis. The accounting
policies have been applied consistently by Group entities.

Functional and Presentation Currency

The  consolidated  financial statements are presented in Euro (EURO), which is the  Company's  functional
currency.

Use of Estimates and Judgements

The  preparation  of  financial  statements  in conformity  with  IFRS  requires  management  to  make
judgements,  estimates  and  assumptions that affect the application of accounting  policies  and  the
reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions
are  based on historical experience and various other factors that are believed to be reasonable under
the  circumstances, the results of which form the basis of making judgements about carrying values  of
assets and liabilities that are not readily apparent from other sources.

In  particular,  significant  areas of estimation, uncertainty and  critical  judgements  in  applying
accounting  policies that have the most significant effect on the amount recognised in  the  financial
statements are in the following areas:

- Measurement of the impairment of intangible assets;

- Utilisation of tax losses.

Revenue Recognition - Interest revenue

Interest  revenue  is accrued on a time basis, by reference to the principal outstanding  and  at  the
effective  interest  rate applicable, which is the rate that exactly discounts estimated  future  cash
receipts through the expected life of the financial asset to that asset's net carrying amount.

Basis of Consolidation

The  consolidated  financial  statements comprise the financial statements  of  Great  Western  Mining
Corporation Plc and its subsidiary undertaking for the year ended 31 December 2010.

Subsidiaries  are  entities controlled by the Group. Control exists when  the  Group  has  the  power,
directly  or indirectly, to govern the financial and operating policies of an entity so as  to  obtain
benefits  from  its  activities.  In assessing control, potential voting  rights  that  are  currently
exercisable or convertible are taken into account. Subsidiaries are fully consolidated from  the  date
that  control  commences until the date that control ceases. Accounting policies of subsidiaries  have
been changed where necessary to ensure consistency with the policies adopted by the Group.

Intragroup  balances and any unrealised gains or losses or income or expenses arising from  intragroup
transactions are eliminated in preparing the Group financial statements.

In the Company's own balance sheet, investments in subsidiaries are stated at cost less provisions for
any permanent diminution in value.

Intangible Assets (Deferred Exploration Costs)

In  accordance  with International Financial Reporting Standard 6 - Exploration for and Evaluation  of
Mineral  Resources, the Group uses the cost method of recognition. Exploration costs  include  licence
costs, survey, geophysical and geological analysis and evaluation costs, costs of drilling and project-
related overheads.

Exploration expenditure in respect of properties and licences not in production is capitalised and  is
carried  forward  in  the balance sheet under intangible assets in respect of each  area  of  interest
where:-

(i)  the operations are ongoing in the area of interest and exploration or evaluation activities  have
not  reached  a  stage  which  permits  a reasonable assessment  of  the  existence  or  otherwise  of
economically recoverable reserves; or

(ii) such costs are expected to be recouped through successful development and exploration of the area
of interest or alternatively by its realisation.

When  the  directors  decide  that no further expenditure on an area of interest  is  worthwhile,  the
related expenditure is written off or down to an amount which it is considered represents the residual
value of the Group's interest therein.

Impairment

The  carrying amounts of the Group's non-financial assets, other than deferred tax assets are reviewed
at  each  reporting  date  to determine whether there is any indication of  impairment.  If  any  such
indication  exists then the assets' recoverable amount is estimated. For intangible assets  that  have
indefinite  lives  or  that are not yet available for use, recoverable amount  is  estimated  at  each
reporting date.

An  impairment  loss  is  recognised if the carrying amount of an asset or  its  cash-generating  unit
exceeds  its recoverable amount. A cash-generating unit is the smallest identifiable asset group  that
is  expected  to  generate  cash  flows that largely are independent from  other  assets  and  groups.
Impairment  losses  are  recognised  in  the  Statement of  Comprehensive  Income.  Impairment  losses
recognised  in respect of cash-generating units are allocated first to reduce the carrying  amount  of
any  goodwill allocated to the units and then to reduce the carrying amount of the other assets in the
unit (group of units) on a pro rata basis.

The  recoverable amount of an asset or cash generating unit is the greater of its value in use and its
fair  value  less  costs  to  sell. In assessing value in use, the estimated  future  cash  flows  are
discounted  to  their  present  value  using a pre-tax discount  rate  that  reflects  current  market
assessments of the time value of money and the risk specific to the asset.

Taxation

Current  corporation  tax is the expected tax payable on the taxable income for the  year,  using  tax
rates  enacted  or substantively enacted at the reporting date, and any adjustment to tax  payable  in
respect of previous years.

Deferred tax is recognised using the liability method, providing for temporary differences between the
carrying  amounts of assets and liabilities for financial reporting purposes and the amounts used  for
taxation purposes. Deferred tax is not recognised for the following temporary differences: the initial
recognition of goodwill, the initial recognition of assets or liabilities in a transaction that is not
a  business  combination  and  that  affects neither accounting nor taxable  profit,  and  differences
relating  to  investments in subsidiaries to the extent that they probably will  not  reverse  in  the
foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied  to  the
temporary  differences  when they reverse, based on the laws that have been enacted  or  substantively
enacted by the reporting date.

A  deferred tax asset is recognised to the extent that it is probable that future taxable profits will
be  available against which temporary difference can be utilised. Deferred tax assets are reviewed  at
each  reporting date and are reduced to the extent that it is no longer probable that the related  tax
benefit will be realised.

Foreign Currencies

Monetary  assets  and liabilities denominated in a foreign currency are translated into  Euro  at  the
exchange  rate  ruling  at  the balance sheet date, unless specifically covered  by  foreign  exchange
contracts  whereupon the contract rate is used. Revenues, costs and non monetary assets are translated
at the exchange rates ruling at the dates of the transactions. All exchange differences are dealt with
through the Statement of Comprehensive Income.

On consolidation, the assets and liabilities of overseas subsidiary Companies are translated into Euro
at  the rates of exchange prevailing at the balance sheet date. Exchange differences arising from  the
restatement  of  the  opening  balance sheets of these subsidiary Companies  are  dealt  with  through
reserves.  The  operating results of overseas subsidiary Companies are translated  into  Euro  at  the
average rates applicable during the year.

Share capital

Incremental  costs  directly  attributable to the issue of  ordinary  shares  and  share  options  are
recognised as a reduction in equity.

Earnings per share

The Group presents basic and diluted earnings per share (EPS) data for its ordinary shares.  Basic EPS
is  calculated by dividing the profit or loss attributable to ordinary shareholders of the Company  by
the  weighted  average  number  of ordinary shares outstanding during  the  period.   Diluted  EPS  is
determined  by  adjusting the profit or loss attributable to ordinary shareholders  and  the  weighted
average  number  of  ordinary  shares outstanding for the effects of all dilutive  potential  ordinary
shares.

Financial Instruments

Cash and Cash Equivalents

Cash and cash equivalents in the Statement of Financial Position comprise cash at bank and in hand and
short  term  deposits  with an original maturity of three months or less.  Bank  overdrafts  that  are
repayable on demand and form part of the Group's cash management are included as a component  of  cash
and cash equivalents for the purpose of Statement of Cash Flows.

Trade and Other Receivables / Payables

Trade  and other receivables and payables are stated at cost less impairment, which approximates  fair
value given the short dated nature of these assets and liabilities.

Finance Income

Finance  income  comprises  interest income on funds invested and foreign  currency  gains.   Interest
income  is  recognised as the interest accrues (using the effective interest rate method) to  the  net
carrying amount of the financial asset.

Segmental Information

In  accordance  with IFRS 8: Operating Segments, the Group has one principle reportable  segment  i.e.
Nevada,  U.S.A. which represents the exploration and development of gold and other minerals in Nevada,
U.S.A.

Other  operations  'Corporate' includes cash resources held by the Group, interest income  earned  and
other operational expenditure incurred by the Group.  These areas are not within the definition of  an
operating segment.


          Consolidated Statement of Comprehensive Income for the year ended 31 December 2010


Continuing Operations                                                                 2010                     2009
                                                  Notes                               EURO                     EURO

Administrative expenses                                                           (325,723)                (264,969)
Finance income                                                                           -                    1,527
                                                                                 _________                _________

Loss for the year before tax                                                      (325,723)                (263,442)

Corporation tax expense                                                             (1,535)                       -
                                                                                 _________                _________

Total Comprehensive Loss for the year                                             (327,258)                (263,442)
                                                                                 =========                =========
Loss attributable to:
   Equity holders of the Company                                                  (327,258)                (263,442)
                                                                                 _________                _________

                                                                                  (327,258)                (263,442)
                                                                                 =========                =========
Total Comprehensive Loss attributable to:
   Equity holders of the Company                                                  (327,258)                (263,442)
                                                                                 _________                _________

                                                                                  (327,258)                (263,442)
                                                                                 =========                =========
Earnings per share
from continuing operations
Basic and Diluted loss per share (cent)             3                                (1.16)                   (0.93)
                                                                                 =========                =========


                  Consolidated Statement of Financial Position as at 31 December 2010

                                                                                     2010                      2009
                                                  Notes                              EURO                      EURO
Assets

Non-Current Assets
Intangible assets                                                                 797,657                   705,896
                                                                                _________                 _________

Total Non-Current Assets                                                          797,657                   705,896

Current Assets
Trade and other receivables                                                             -                     5,621
Cash and cash equivalents                                                           6,361                    59,352
                                                                                _________                 _________

Total Current Assets                                                                6,361                    64,973
                                                                                _________                 _________

Total Assets                                                                      804,018                   770,869
                                                                                =========                 =========

Equity

Capital and Reserves
Share capital                                                                     282,536                   282,536
Share premium                                                                   1,602,234                 1,602,234
Retained loss                                                                  (1,474,362)               (1,147,104)
                                                                                _________                 _________

Attributable to owners of the company                                             410,408                   737,666
                                                                                _________                 _________

Total Equity                                                                      410,408                   737,666
                                                                                _________                 _________


Liabilities
Current Liabilities
Trade and other payables                                                          393,610                    33,203
                                                                                _________                 _________

Total Liabilities                                                                 393,610                    33,203
                                                                                _________                 _________


Total Equity and Liabilities                                                      804,018                   770,869
                                                                                =========                 =========


                  Consolidated Statement of Changes in Equity as at 31 December 2010


                                                                Share        Share     Retained
                                                              Capital      Premium       Losses        Total
                                                                 EURO         EURO         EURO         EURO

Balance at 1 January 2009                                     267,520    1,399,810     (883,662)     783,668
                                                            _________    _________    _________    _________

Total comprehensive income for the year
Loss for the year                                                   -            -     (263,442)    (263,442)
                                                            _________    _________    _________    _________

Total comprehensive income for the year                             -            -     (263,442)    (263,442)
                                                            _________    _________    _________    _________

Transactions with owners, recorded directly in equity
Shares issued                                                  15,016      202,424            -      217,440
                                                            _________    _________    _________    _________

Total transactions with owners                                 15,016      202,424            -      217,440
                                                            _________    _________    _________    _________


Balance at 31 December 2009                                   282,536    1,602,234   (1,147,104)     737,666
                                                            _________    _________    _________    _________



Balance at 1 January 2010                                     282,536    1,602,234   (1,147,104)     737,666
                                                            _________    _________    _________    _________

Total comprehensive income for the year
Loss for the year                                                   -            -     (327,258)    (327,258)
                                                            _________    _________    _________    _________

Total comprehensive income for the year                             -            -     (327,258)    (327,258)
                                                            _________    _________    _________    _________


Balance at 31 December 2010                                   282,536    1,602,234   (1,474,362)     410,408
                                                            =========    =========    =========    =========


                 Notes to the Financial Statements for the year ended 31 December 2010

1.     Going concern

        The  financial  statements have been prepared on the going concern basis, which  assumes  that
        Great  Western  Mining  Corporation  Plc  will  continue  in  operational  existence  for  the
        foreseeable future.
      
        The validity of this assumption depends on the following:
        The  Directors  intend  to  raise additional finance during 2011  through  a  listing  on  the
        Alternative  Investment  Market  to fund an expanded exploration  programme.  This  additional
        funding  will  be  used to continue the exploration programme and to fund  the  administrative
        expenses of the Company and the Group.
      
        The  financial  statements do not include any adjustments that would result if the  additional
        capital is not raised. Whilst taking into consideration the uncertainties described above, the
        Directors  believe that it is appropriate for the financial statements to  be  prepared  on  a
        going concern basis.
      
        We  draw your attention to Note 18 for details of monies raised by the company  subsequent  to 
        the year end and prior to the date of the signing of the financial statements.

2.     Segment Information

      In the opinion of the Directors the operations of the group comprise one class of business being
      the  exploration  and  mining  for copper, silver, gold and other  minerals.  The  group's  main
      operations  are  located within Nevada. The information reported to the Group's chief  operating
      decision maker for the purposes of resource allocation and assessment of segment is specifically
      focussed on the exploration areas in Nevada. In the opinion of the Directors the Group has  only
      one reportable segment under IFRS 8 which is exploration carried out in Nevada.

       Information regarding the Group's reportable segments is presented below.

       Segment Revenues and Results

        The following is an analysis of the Group's revenue and results from continuing operations  by
        reportable segment.

                                                                         Segment Revenue            Segment Loss
                                                                        2010        2009         2010         2009
                                                                        EURO        EURO         EURO         EURO

       Exploration - Nevada                                                -           -     (325,723)    (264,969)
                                                                   _________   _________      _______      _______

       Total for continuing operations                                     -           -     (325,723)    (264,969)
                                                                   =========   =========
       Investment income                                                                            -        1,527
                                                                                              _______      _______

       Loss before tax (continuing operations)                                               (325,723)    (263,442)

                                                                                              _______      _______

       Income tax expense                                                                      (1,535)           -

                                                                                              _______      _______

       Loss after tax                                                                        (327,258)    (263,442)
                                                                                              =======      =======

       Segment assets and liabilities

       Segment Assets                                                                            2010         2009
                                                                                                 EURO         EURO

       Exploration - Nevada                                                                   804,018      770,869
                                                                                              _______      _______

       Consolidated assets                                                                    804,018      770,869
                                                                                              =======      =======

       Segment Liabilities
       Exploration - Nevada                                                                   393,610       33,203
                                                                                              _______      _______

       Consolidated liabilities                                                               393,610       33,203
                                                                                              =======      =======

       Other segment information

                                                                        Depreciation and              Additions to
                                                                            amortisation        non-current assets
                                                                        2010        2009         2010         2009
                                                                        EURO        EURO         EURO         EURO
       Exploration - Nevada                                                -           -       91,761      117,860
                                                                   =========   =========      =======      =======

                                                               
      Revenue from major products and services

      The Group did not receive any revenue in the year.  In the prior year, the only revenue that the
      group received related to bank interest, which has been allocated to Ireland.

       Geographical information

       The  Group  operates  in two principal geographical areas - Republic  of  Ireland  (country  of
       residence  of Great Western Mining Corporation PLC) and Nevada, U.S.A. (country of residence of 
       Great   Western  Mining  Corporation,  a  wholly  owned  subsidiary  of  Great  Western  Mining 
       Corporation PLC).

       The Group does not have revenue from external sources. Information about its non-current assets
       by geographical location are detailed below:


                                                                                        2010        2009
                                                                                                    EURO
       Ireland                                                                             -  
       Nevada                                                                        797,657     705,896
                                                                                     _______     _______

                                                                                     797,657     705,896
                                                                                     =======     =======

3.    Loss per share

      Basic earnings per share

      The  basic  and  weighted  average number of ordinary shares used in the  calculation  of  basic
      earnings per share are as follows:

                                                                                         2010                 2009
                                                                                         EURO                 EURO
      (Loss) for the period attributable to equity holders of the parent             (327,258)            (263,442)
                                                                                   __________           __________

      Number of ordinary shares in issue - start of year                           28,253,628           26,752,000

      Effect of shares issued during the year                                               -            1,501,628
                                                                                   __________           __________

      Weighted average number of ordinary shares for the purposes of basic EPS     28,253,628           28,253,628
                                                                                   __________           __________

      Basic (loss) per ordinary share (cent)                                            (1.16)               (0.93)
                                                                                   ==========           ==========

      Diluted earnings per share

      Basic and Diluted EPS are the same as there are no potential ordinary share


4.    Post Balance Sheet events

       Subsequent  to  the  year end the Company raised £1,015,718 (EURO 1,147,889) by  the  issue  of 
       9,233,800 new ordinary shares of EURO 0.01 each at a price of £0.11 per share.

5.    Other

       The  information  contained in this statement has been extracted from  the  audited  Directors'
       Report  and  Financial  Statements  for  the  year  ended 31 December 2010,  which  contain  an  
       unqualified  audit  report.   The Independent Auditors' Report to  the  Shareholders  of  Great 
       Western Mining Corporation Plc in the Report & Accounts contains the following statements:

      "Emphasis of Matter - Going Concern
      
      In forming our opinion, we have considered the adequacy of the disclosures made in the financial
      statements  as detailed in Note 1 concerning the preparation of the financial statements on  the
      going  concern basis for the period under review. In view of the significance of this matter  we
      feel  that  this  should  be brought to your attention.   Our opinion is not qualified  in  this
      respect.

      Deferred Exploration
      
      In  forming  our  opinion, we considered the adequacy of disclosures  made  in  Note  9  to  the
      financial  statements  in relation to the directors' assessment of the  carrying  value  of  the
      group's deferred exploration costs amounting to EURO 797,657. The realisation of the  intangible
      assets is dependent on the successful development or disposal of copper, silver, gold and  other
      minerals  in  the  Group's  licence area. Such successful development is  dependent  on  several
      variables  including  the existence of commercial deposits of copper,  silver,  gold  and  other
      minerals, availability of finance and the price of copper, silver, gold and other minerals.  Our
      opinion is not qualified in this respect."

      The directors do not recommend the payment of a dividend for the year ended 31 December 2010.  A
      dividend was not paid for the year ended 31 December 2009.
      
            
THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENT OF THIS ANNOUNCEMENT.
      
Enquiries:

Great Western Mining Corporation plc:
Emmett O'Connell, Chairman                                       Tel:    +353 51 565884
Melvyn Quiller, Chief Executive                                  Tel:    07712 899588

SVS Securities plc - PLUS Corporate Advisor
Alexander Brearley                                               Tel:    020 7638 5600

SVS Securities plc - Broker
Ian Callaway/Alexander Mattey                                    Tel:    020 7638 5600

Libertas Capital - Broker
Neil Pidgeon                                                     Tel:    020 7569 9678

Financial PR
Nicholas Nelson/Guy McDougall                                    Tel:    020 7245 1100


Great Western Mining Corporation plc

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  • Great Western Mining Corporation plc