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

Great Basin Gold Ltd.

September 19, 2007 08:02 ET

Great Basin Gold Announces Acceptance of Burnstone Mining Rights Application by the Department of Minerals and Energy in South Africa

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (TSX:GBG)(AMEX:GBN)(JSE:GBG) announces that the Department of Minerals and Energy ("DME") has accepted the application for a mining right by its wholly owned subsidiary Southgold Exploration (Pty) Ltd. ("Southgold") for the Burnstone Project located near Balfour, South Africa. The application was granted under the terms of section 22 of the Mineral and Petroleum Resources Development Act, 2002 ("MPRDA").

The acceptance means that the Company has complied with the submission requirements of the MPRDA and can now submit its scoping report for the Environmental Impact Assessment ("EIA"), the EIA and the Environmental Management Programme ("EMP") within the time frames set out in the MPRDA and other legislation. Normally, a mining right can take up to one year to be processed and approved by the DME.

In addition, the DME approved a new order prospecting right in terms of section 17 of the MPRDA that grants Southgold the right to undertake exploration activities on properties adjacent to the Burnstone project and in the South Witwatersrand area.

President and CEO Ferdi Dippenaar said: "We are pleased with the progress that we have made thus far in complying with the requirements of the Mineral and Petroleum Resources Development Act. We can only commend the DME for the assistance given to our Company so far in respect to securing of its mineral tenure. With the granting of the prospecting right, Southgold has consolidated its exploration properties in order to support and even possibly expand the Burnstone Project.

Even before having been granted approval to proceed with bulk sample activities, we recognized the important role that the Company could fulfill in the betterment of the community and immediately consulted with the major stakeholders and role-players in the Dipalaseng Municipality. This has resulted in the delivery of a number of projects. We recognize that the Company has a significant role to play in the community, and Great Basin Gold has accepted that responsibility. We also would like to thank the community members for working with us."

Great Basin Gold 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.

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 ("the Company") 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. No guarantees can be given that the required permitting and/or licensing will be approved. 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.
    Tsholo Serunye
    Investor Services - South Africa
    27 (0) 11 884 1610
    or
    Great Basin Gold Ltd.
    Melanee Henderson
    Investor Services - North America
    (604) 684-6365 or 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.grtbasin.com
    or
    Breakstone Group
    Barbara Cano
    Investor Services - USA
    (646) 452-2334
    Email: bcano@breakstone-group.com