Great Basin Gold Ltd.
TSX : GBG
AMEX : GBN
JSE : GBGOLD

Great Basin Gold Ltd.

January 30, 2008 10:17 ET

Correction from Source: Great Basin Announces the Appointment of Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2008) - The following corrects and replaces the release issued earlier today on behalf of Great Basin Gold Ltd. In the second paragraph, last sentence, the date Lou van Vuuren is to join Great Basin Gold Ltd. has been corrected from March 2007 to March 2008.

Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (TSX:GBG)(AMEX:GBN)(JSE:GBGOLD) announces a change to its management team. Lou van Vuuren will join the Company as the Chief Financial Officer.

Lou van Vuuren qualified as a Chartered Accountant in 2002, after completing his articles with PricewaterhouseCoopers ("PWC") where he was appointed Assistant Manager in 2002. Later he progressed to Manager (2003), Senior Manager (2005) and Associate Director of PWC (2007), a position that he has held until his appointment with Great Basin Gold. Lou has an in-depth understanding of financial and regulatory requirements and has significant auditing experience in the gold mining industry. Lou will join Great Basin Gold in March 2008, taking over from Zelda Mostert (previously Smit), who has resigned for personal reasons.

President and CEO Ferdi Dippenaar said:

"We welcome Lou to our management team. We are looking forward to tapping into his wealth of financial expertise and believe he will play a leading role in Great Basin Gold's future. He joins the Company at an exciting and challenging time, as we are making good progress with the development of the Burnstone Project in South Africa and advancing the Hollister Project in Nevada, USA."

Great Basin has two advanced stage gold projects in two of the world's best gold environments. In addition to its Burnstone Gold Project in South Africa's Witwatersrand Goldfield, the Company holds a 100% interest in the Hollister Property on the Carlin Trend in Nevada, USA.

For additional details on Great Basin and its gold properties, please visit the Company's website at www.grtbasin.com or contact Investor Services.

Ferdi Dippenaar, President and CEO

Cautionary and Forward Looking Statement Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address possible future commercial production, reserve potential, exploration drilling results, development, feasibility or exploitation activities and events or developments that Great Basin Gold expects to occur are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Great Basin Gold Ltd. - South Africa
    Tsholo Serunye
    27 (0) 11 884 1610
    or
    Great Basin Gold Ltd. - North America
    Melanee Henderson
    Toll Free: 1-800-667-2114
    Website: www.grtbasin.com
    or
    Breakstone Group - USA
    Barbara Cano
    (646) 452-2334