SOURCE: Great West Gold, Inc.

June 30, 2005 10:42 ET

Great West Gold, Inc. - Potential Acquisition and Restructuring

The Company Confirms Its Commitment to the Creation of Shareholder Value

NEW YORK, NY -- (MARKET WIRE) -- June 30, 2005 -- Great West Gold, Inc. (OTC BB: GWGO) has now filed its Form 10 QSB for the quarter ended March 31, 2005. The Company is now no longer delinquent in its filings and the "E" annotation will now be dropped from its Trading Symbol which will revert back to that of "GWGO."

The Company has for some time recognized the fact that its dismal share price performance required a major corporate restructuring and to this end, the Company has examined countless possibilities to unlock value for its shareholders.

The Company has announced plans to dispose of its interests in the two Arizona Gold Mining Projects to two newly created companies, Windsor Resources, Inc. ("Windsor") and Sentinel Resources, Inc. ("Sentinel"). It was intended that both Windsor and Sentinel obtain funding to develop these projects independently of the Company and for the shares of both Windsor and Sentinel to be admitted for trading on the OTC Market. The rationale was a "Reverse Split" of the Companies stock coupled with a financing of the Company would not be in the interests of shareholders, therefore these two focused independent Gold Mining & Exploration companies would be better positioned to serve shareholder interests. The Company was forced to place these plans on hold until such time as the Company was up to date in its filings and third parties would be in a position to judge the Company upon its audited accounts and its up to date filings.

The Company has now re-entered into discussions to expedite the transactions in respect of both Windsor and Sentinel. If successful, it is the intention of the Company to distribute the majority or all of its shareholdings in Windsor and Sentinel to the Company's shareholders, and at such time as both Windsor and Sentinel are quoted on the OTC Market. The Company is now in advanced discussions to acquire interests in another sector, which if successful, will result in the Company entering another business sector after disposing of the shares in its mining interests to its shareholders. If successful, the Company would change its name and Trading Symbol and would effect a restructuring of its outstanding stock. St James Capital Holdings, Inc. which holds a Loan Note from the Company in the amount of US$1,500,000 is assisting in this transaction and has agreed not to demand a conversion of this Loan into Common Stock of The Company at this time.

The Company wishes to stress that no restructuring of its outstanding stock will be effected without the unlocking of value for its shareholders through the distribution of the Company's shareholdings in Windsor and Sentinel, if that transaction is successful. The Company stands by its promise that shareholders will not be diluted further without a significant unlocking of value for themselves. Furthermore, the proposed acquisition is not completed nor have final terms been agreed. The Company will update its shareholders accordingly.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

About Great West Gold, Inc.

Great West Gold, Inc. (www.greatwestgold.com) is a gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in Arizona.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

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