Great Western Mining Corporation plc
LSE : GWMO

February 02, 2011 12:02 ET

PLACING

2 February 2011

                                   GREAT WESTERN MINING CORPORATION PLC
                                                     
                                         (the "Company" or "GWM")
                                                     
                                                  PLACING
                                                     
The  Directors of the Company announce that the Company has today issued a total of 1,136,363 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").  Today's Placing has raised a total of approximately £125,000.  The
funds raised via today's Placing will be used to expand the Company's pilot core hole drilling programme.

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. Potential dealings  in  the
new Ordinary Shares on PLUS-quoted will be possible from 3 February 2011 onwards.

The  Company's  Directors did not participate in today's Placing. The following table sets out  details  of
changes in the percentage of voting rights held by Directors, subsequent to the Placing.


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

Emmett            7,055,181         19.41%             7,055,181         18.82%
O'Connell                                                                
Executive
Chairman*

Melvyn Quiller    1,847,813         5.08%              1,847,813         4.93%
Chief Executive                                                          
Officer

**Robert          5,451,365         15.00%             5,451,365         14.54%
O'Connell                                                                
Operations
Director***

Liam McGrattan    850,000           2.34%              850,000           2.27%
Non Executive                                                            
Director

Nial Ring FCCA    850,000           2.34%              850,000           2.27%
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
37,487,428 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

Libertas Capital Corporate Finance Ltd - Brokers to the Placing

Neil Pidgeon                                            Tel:    0207 569 9650

Nexus Financial Limited - Financial Public Relations

Nicholas Nelson                                         Tel:    07921 522920


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