Great Western Mining Corporation plc
LSE : GWMO

January 24, 2011 11:33 ET

PLACING

24 January 2011

                                   GREAT WESTERN MINING CORPORATION PLC
                                                     
                                         (the "Company" or "GWM")
                                                     
                                                  PLACING
                                                     
The  Directors of the Company announce that on 24 January 2011 the Company issued a total of 8,097,437  new
ordinary shares of EURO 0.01 each (the "new Ordinary Shares") at an issue price of £0.11 (the "Placing  Price")
each, pursuant to a placing (the "Placing"). The Placing has raised a total of approximately £890,718.

The funds raised via the Placing will be used to:

    *       conduct a ground based Induced Polarisation and Resistance geophysical survey that will enable the
            future comprehensive drilling programme to be identified;
    *       implement a pilot core drilling series;
    *       significantly expand the area under license, with the addition of lode claims; and
    *       provide working capital.

The new Ordinary Shares will rank pari passu with all existing fully paid Ordinary Shares. The new Ordinary
Shares and the existing Ordinary Shares both have one right to vote per share.

The  following  table  sets out details of the changes in Director shareholdings and  the  changes  in  the
percentage of voting rights held by Directors, subsequent to the Placing.


Name              Number of         Percentage of      Number of new     Number of         Percentage of
                  Ordinary          the voting         Ordinary          Ordinary          the voting
                  Shares, with      rights in the      Shares, with      Shares, with      rights in the
                  one voting        issued ordinary    one voting        one voting        issued ordinary
                  right each,       share capital      right each,       right each,       share capital
                  held prior to     of the Company     purchased in      held following    of the Company
                  the Placing       prior to the       the Placing at    the Placing       following the
                                    Placing (%)        the Placing                         Placing (%)
                                                       Price

Emmett            6,651,000         23.54%             404,181           7,055,181         19.41%
O'Connell
Executive
Chairman*

Melvyn Quiller    1,700,995         6.02%              146,818           1,847,813         5.08%
Chief Executive
Officer

**Robert          5,150,001         18.23%             301,364           5,451,365         15.00%
O'Connell
Operations
Director***

Liam McGrattan    850,000           3.00%              0                 850,000           2.34%
Non Executive 
Director

Nial Ring FCCA    850,000           3.00%              0                 850,000           2.34%
Non Executive
Director

* Emmett O'Connell's holding includes Ordinary Shares held by his wife, M. O'Connell, and Ordinary  Shares
held by the Emmett O'Connell pension fund.
** Robert O'Connell's holding includes Ordinary Shares held by the Robert O'Connell pension fund.
*** Emmett O'Connell is the father of Robert O'Connell.


After the issue of the new Ordinary Shares, the Company's total issued capital, with voting rights, will be
36,351,065 Ordinary Shares of EURO 0.01 each. There are no warrants or options in issue.

The above figure may be used by the shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in or a change to their interest in the Company.


THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILTY FOR THE CONTENTS OF THIS ANNOUNCEMENT

                                                     
                                                ---ENDS---
                                                     
CONTACT DETAILS:

Great Western Mining Corporation plc.

Emmett O'Connell, Executive Chairman                      Tel:    +353 51 565844
                                                          Fax:    +353 51 565884
                                                          Email:  Emmett@iol.ie

Melvyn Quiller, Chief Executive Officer                   Tel:    07712 899588
                                                          Email:  melvyn.quiller@gmail.com

SVS Securities plc - PLUS Corporate Advisor

Alexander Brearley                                        Tel:    0207 638 5600

SVS Securities plc - Broker

Ian Callaway/Alexander Mattey                             Tel:    0207 638 5600


ABOUT GREAT WESTERN MINING CORPORATION PLC

    1.      GWM is an Irish exploration company with rights over approximately 33 square kilometres of mineral
            lode claims in Mineral County, Nevada, U.S.A.
    2.      GWM's shares are admitted to trading on PLUS-quoted in London, trading symbol GWMO.
    3.      Website: www.greatwesternmining.com

Contact Information

  • Great Western Mining Corporation plc