VANCOUVER, Oct. 27 /PRNewswire-FirstCall/ -- Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces further high-grade underground drilling results from its Hollister property in Nevada for the quarter ending September 30, 2009 ("Q3"). Exceptional results have been achieved from underground boreholes HSD-116, 118, 84, 85, 86 and 87, which have intersected grades of 6 opt Au to 63 opt Au (300 g/t to 2,150 g/t Au) over widths ranging from 0.5- 6.4 ft (0.2 to 3 m) on the central Gwenivere vein system, and are part of the 40 vein intersections in excess of 1 opt Au (34.28 g/t Au) made during the quarter. Mineralisation in the Gwenivere vein system continues to give intersections with robust grades: 107 boreholes (excluding 5 holes (greater than) 10 opt Au) averaged 2.247 opt Au over 2.1 ft (77.04 g/t Au over 0.6 m). Mineralisation in the Clementine vein system also continues to give intersections with robust grades: 24 boreholes averaged 0.935 opt Au over 1.8 ft (32.07 g/t Au over 0.5 m). Q3 Highlights from Gwenivere drilling ------------------------------------------------------------------------- Vein Intersection Est. Analytical Results Drill (ft) Drilled True ------------------------------ Hole ID -------------- Thick- Thick- ness ness Au Au Ag Ag From To (ft) (ft) (opt) (g/t) (opt) (g/t) ------------------------------------------------------------------------- HSD-84 63.3 65.8 2.5 2.5 11.677 400.36 111.5 3822 HSD-84 66.9 67.4 0.5 0.5 10.080 345.59 36.3 1244 ------------------------------------------------------------------------- HSD-84 69.3 72.2 2.9 2.3 6.713 230.18 18.9 648 HSD-85 85.0 93.0 8.0 6.4 6.166 314.24 25.5 874 HSD-85 97.0 101.3 5.6 4.5 62.889 2156.13 154.5 5298 HSD-85 108.5 116.5 8.0 6.4 15.247 522.74 47.2 1620 HSD-86 64.0 69.5 5.5 4.4 25.950 889.73 234.8 8049 HSD-87 79.3 82.8 3.5 2.8 6.051 207.46 29.72 1018.8 HSD-116 188.6 189.6 1.0 0.8 18.383 630.26 399.3 13690 ------------------------------------------------------------------------- HSD-118 104.9 107.2 2.3 1.8 36.048 1235.91 380.1 13031 ------------------------------------------------------------------------- During the quarter, underground evaluation and exploration drilling for other mineralized structures totaled 32,008 ft (9,699 m). Geotechnical surface drilling totaled 693 ft (211 m). The programs continue to encounter high-grade intersections on the Gwenivere and Clementine vein systems (see below) and disseminated mineralisation in the overlying Tertiary volcanics, as well as further encouraging intersections from the west lateral splays and/or extensions of the east Clementine vein system. The underground drilling is providing more information about the strike (3,000 ft/ 980 m) and vertical (1,300 ft/ 396 m) continuity of the vein systems. The Hollister mineral system currently comprises 19 discrete east-west striking subvertical veins, which constitute the Clementine and Gwenivere groups. The system is still open along strike, at depth, and in areas up to and above the Ordovician/Tertiary Unconformity. One hundred and six underground boreholes were completed, of which 11 were for exploration, 28 covered extensions of the Gwenivere and Clementine vein systems and 67 continued stope delineation targets on both vein systems. The majority of these intersections on both the Gwenivere and Clementine vein systems are inside the short to medium term trial mining plan providing conformation of the expected grade. Annual production from trial mining is anticipated to be 15% lower than planned at 115,000 Au eqv. oz mainly because of a slower build-up of ore tons from the higher grade stopes developed in the second and third quarters of 2009. It was originally anticipated that the Company will commence trial mining on these higher grade stopes in Q3 of 2009. The results from the in-fill drilling presented in the tables below indicate that the expected higher grade stopes will only be accessed during Q4 of 2009. The drilling results from these areas are extremely positive and provide the Company with additional information to optimize stope planning for trial mining activities and thereby ensuring an increase in ore tons from these high grade stopes. During the third quarter of 2009, continued trial mining resulted in the extraction of 18,232 ore tons containing an estimated 18,026 ounces gold equivalent (Au eqv.) at a grade of 0.99 opt Au eqv. (33.9 g/t Au eqv.), which was less than the planned grade of 1.2 opt Au eqv., mainly due to only accessing the planned higher grade stopes in Q4 of 2009. Cash production costs for the third quarter decreased by 14% from US$375 to US$324 per Au eqv. oz extracted, excluding milling costs, which is 11% lower than the projected cash production costs per Au eqv. oz for 2009. The year to date cash production costs of approximately US$333 per Au eqv. oz (unaudited) and US$375 per ton mined (unaudited) are 8% and 15% lower, respectively, than the planned 2009 cash cost of US$363 per Au eqv. oz and US$440 per ton mined. This achievement reflects the increasingly aggressive cost management of the Hollister project and improvements in the mining dilution and methods being used. For the year to date, the Company has extracted 60,554 Au eqv. oz at a grade of 1.13 opt (38.7 g/t), excluding milling costs. At September 30, a total of 32,219 tons, containing an estimated 27,336 Au eqv. oz had been accumulated in a surface stockpile. The Company earlier reported that its Esmeralda Mill has been commissioned and was processing low grade Hollister ore, and that the necessary permits had been obtained to proceed with the installation of the Gekko float and gravity section which had arrived on site. The installation of the Gekko system, which is being undertaken in the fourth quarter, will allow the Company to match processing with trial mining volumes at Hollister, thereby giving a clearer reflection of operational results. Due to the commissioning of the Esmeralda mill and the high toll milling costs associated with treatment at Newmont's Midas mill, the Company elected not to treat any ore in the third quarter of 2009 and, as a result, did not record any revenue during the period. The Company has subsequently also entered into an ore processing agreement with Yukon-Nevada, to process the 30,000 additional ore tons currently stockpiled at the Hollister property, at a cost of US$88 per ton. Fixed recoveries of 88% for both gold and silver have been agreed to. The stock pile contains an estimated 30,000 Au eqv. oz. The Company is also in discussions for a possible restructuring of the Senior Secured Notes that were issued in December 2008. Although these notes are not due for payment until December 2010 at the earliest, the improved debt markets are providing opportunities for restructuring these notes into a lower cost debt facility with more favourable repayment terms. There can be no certainty at this time that these discussions will lead to a restructuring of the notes. Further drilling on the Gloria Vein System, a new discovery made during drilling from the diamond drill station in the West Lateral drift (DDS West Lateral), continues to confirm the presence of a significant zone of thick quartz vein breccias, quartz-adularia veins, and quartz-adularia stockwork with an overall orientation of approximately northwest-southeast. Although the assay results did not reveal significant mineralization at the penetrated elevations, the presence of sulfosalts within the veins, abundance of adularia, presence of a number of thin veins with notable gold grades ((greater than)3 opt Au) in HDB-307 and HDB-321, and the nature of the vein textures all suggest that emplacement of precious metals did occur within this vein system. Q3 Underground Exploration Drilling results in the Gloria Vein (West Lateral) ------------------------------------------------------------------------- Vein Intersection Analytical Results (ft) Drilled Est. ------------------------------ Drill -------------- Thick- True Hole ness Width Au Au Ag Ag ID From To (ft) (ft) (opt) (g/t) (opt) (g/t) ------------------------------------------------------------------------- HDB-292 64.0 67.8 3.8 2.7 0.152 5.21 2.3 79 ------------------------------------------------------------------------- HDB-293 599.8 602.8 3.0 2.2 0.122 4.20 2.3 78 ------------------------------------------------------------------------- HDB-307 584.8 587.0 2.2 2.9 3.156 108.20 19.6 673 ------------------------------------------------------------------------- HDB-308 No significant intersections ------------------------------ HDB-309 No significant intersections ------------------------------------------------------------------------- HDB-310 1271.0 1325.0 54.0 40.5 0.001 0.04 0.1 5 ------------------------------------------------------------------------- HDB-319 547.6 584.1 36.5 36.5 0.009 0.31 0.2 6 ------------------------------------------------------------------------- HDB-320 497.5 499.3 1.8 1.7 0.095 3.26 0.9 32 524.1 524.8 0.7 0.7 0.121 4.15 0.1 4 528.2 528.9 0.7 0.7 0.229 7.85 0.9 32 ------------------------------------------------------------------------- HDB-321 541.0 541.5 0.5 0.5 3.752 128.64 16.5 566 ------------------------------------------------------------------------- HDB-322 512.0 516.2 4.2 3.2 0.264 9.07 1.1 39 ------------------------------------------------------------------------- HDB-323 472.3 473.1 0.8 0.7 0.102 3.50 2.9 101 508.6 510.5 1.9 1.7 0.250 8.57 1.6 54 538.9 539.4 0.5 0.5 0.292 10.01 0.7 24 ------------------------------------------------------------------------- HDB-324 235.9 237.6 1.7 1.7 1.556 53.35 4.29 147 ------------------------------------------------------------------------- HDB-335 136.3 137.0 0.6 0.4 0.140 4.79 0.16 5.4 ------------------------------------------------------------------------- Notably, drilling from shallower inclined drill holes (HDB-293 and HDB-307) delineated significant quartz veining and gold mineralization between 5,190 and 5,400 ft (1,581.9-1,645.9 m) in elevation. These new discoveries appear to correlate with a splay from the Clementine vein system, and are not related directly to the deeper (approx 5,000 ft in elevation) quartz vein and structural zone from HDB-309. Two separate vein systems and/or mineralized structures are indicated. Future drilling from DDS West Lateral will test for the extent, continuation and economic characteristics of both structures as well as the possibility of other unrecognized veins. Drilling from diamond drill station 5278 in the muck bay on the Blanket Zone has indicated grade continuity in mineralization and a body of disseminated gold hosted in Tertiary volcanic rocks above the epithermal, banded veins. Intersections range in thickness from 19.4 to 135 ft (5.9 to 41.1 m) and grades between 0.130 to 0.500 opt (4.4 to 17.2 g/t) Au. This drilling is being integrated with the broader mine scale target that has emerged from processing historic borehole intersections of this style of mineralization in order to fully assess the zone. Q3 Underground Exploration Drilling results in the Blanket Zone ------------------------------------------------------------------------- Vein Intersection Analytical Results (ft) Drilled Est. ------------------------------ Drill -------------- Thick- True Hole ness Width Au Au Ag Ag ID From To (ft) (ft) (opt) (g/t) (opt) (g/t) ------------------------------------------------------------------------- HDB-325 243.7 244.4 0.7 0.6 0.299 10.25 0.6 20 289.1 290.5 1.4 1.2 1.837 62.98 3.3 113 296.8 297.3 0.5 0.4 0.891 30.55 6.3 219 328.6 348.0 19.4 17.5 0.130 4.45 0.0 1 ------------------------------------------------------------------------- HDB-326 312.0 367.0 55.0 49.5 0.500 17.16 0.3 9 ------------------------------------------------------------------------- HDB-327 292.1 293.2 1.1 1.0 1.198 41.07 2.3 80 358.0 378.0 20.0 18.0 0.141 4.85 1.1 0 ------------------------------------------------------------------------- HDB-328 258.0 393.0 135.0 121.5 0.168 5.76 0.1 2 ------------------------------------------------------------------------- No surface exploration drilling was undertaken during the quarter as the Company is awaiting approval of applications for permitting of drill pads. A diamond core geotechnical borehole was successfully completed, holing into the west lateral development and providing cover information for the planned West Alimak ventilation raise, which has been approved by the Bureau of Land Management. Ferdi Dippenaar, President and CEO, commented: "Our Hollister Project has now had the benefit of approximately one year of trial mining. We continue to make good progress toward ascertaining the most efficient mining method and the development of underground infrastructure. Cash production costs are also decreasing in-line with plan and we expect to make further improvements as our understanding of the orebody increases. Although the build-up in extracted ounces in 2009 has been slower than anticipated, the in-fill drilling shows the high grade material available in the areas that will be accessed over the next 12 months. The construction of the second Alimak raise will improve the ventilation and provide safe access to additional areas for trial mining and continued exploration at the newly discovered Gloria vein systems." Phil Bentley, Pr.Sci.Nat. (SACNAS) Vice President for Geology and Exploration for the Company and a qualified person, and Johan Oelofse, PrEng, FSAIMM, Chief Operating Officer for the Company and a qualified person, have reviewed this news release on behalf of Great Basin Gold. Ferdi Dippenaar President and CEO Results for the third quarter from underground exploration and stope delineation drilling are summarised below. A complete tabulation of the Hollister drilling results is available on the Great Basin Gold website http://www.grtbasin.com/. For additional details on Great Basin Gold Ltd. and its gold properties, please visit the Company's website at http://www.grtbasin.com/ or contact Investor Services: No regulatory authority has approved or disapproved the information contained in this news release. Cautionary Note regarding Non-GAAP Measurements Cash cost per ounce produced is a not a generally accepted accounting principles ("GAAP") based figure but rather is intended to serve as a performance measure providing some indication of the mining and processing efficiency and effectiveness of test mining at the Hollister project. It is determined by dividing the relevant mining and processing costs excluding royalties by the ounces produced in the period. There may be some variation in the method of computation of "cash cost per ounce produced" as determined by the Company compared with other mining companies. In this context, "ounces produced" in-process and dore inventory along with ounces of gold sold in the period. Cash costs per ounce produced may vary from one period to another due to operating efficiencies, waste to ore ratios, grade of ore processed and gold recovery rates in the period. We provide this measure to our investors to allow them to also monitor operational efficiencies of test mining at Hollister. As a Non-GAAP Financial Measures cash cost per ounce should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. There are material limitations associated with the use of such Non-GAAP measures. 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, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, geopolitical uncertainty, changes in government policies regarding mining and natural resource exploration and exploitation, 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 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 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at http://www.sedar.com/. Q3 Gwenivere Stope Delineation drilling results ------------------------------------------------------------------------- Vein Sample Intersection Interval Dril- Est. Analytical Results Drill (ft) (ft) led True ---------------------------- Hole ----------- ---------- Thick- Thick- ID ness ness Au Au Ag Ag From To From To (ft) (ft) (opt) (g/t) (opt) (g/t) ------------------------------------------------------------------------- HSD-75 20.3 23.1 1.9 1.6 0.202 6.93 0.5 16 24.1 24.7 0.6 0.5 0.192 6.58 0.4 13 ------------------------------------------------------------------------- HSD-80 32.8 33.3 0.5 0.5 0.574 19.68 0.7 23 58.2 64.4 6.2 5.8 0.430 14.74 0.2 6 93.3 94.6 1.3 1.2 0.454 15.57 0.5 18 107.0 112.0 5.0 4.7 0.212 7.27 0.1 4 ------------------------------------------------------------------------- HSD-81 23.4 28.5 5.1 3.9 0.680 23.31 0.9 30 30.9 33.4 2.5 1.9 0.422 14.47 0.8 26 33.4 37.0 3.6 2.8 0.354 12.14 0.3 10 ------------------------------------------------------------------------- HSD-82 80.0 80.9 0.9 0.7 0.427 14.64 2.3 80 82.3 83.2 0.9 0.7 0.269 9.22 1.5 52 ------------------------------------------------------------------------- HSD-83 46.3 48.3 2.0 1.9 0.440 15.09 1.5 51 48.3 56.8 8.5 8.0 1.220 41.80 4.0 136 48.3 49.0 0.7 0.7 11.974 410.53 35.6 1219 49.0 52.0 3.0 2.8 0.424 14.54 2.0 67 52.0 56.8 4.8 4.5 0.148 5.07 0.6 22 58.8 59.7 0.9 0.8 2.168 74.33 11.0 376 ------------------------------------------------------------------------- HSD-84 63.3 65.8 2.5 1.9 11.677 400.36 111.5 3822 63.3 64.3 1.0 0.8 26.484 908.00 263.9 9049 64.3 65.2 0.9 0.7 0.640 21.94 5.8 197 65.2 65.8 0.6 0.5 3.556 121.92 16.0 548 66.9 67.4 0.5 0.4 10.080 345.59 36.3 1244 69.3 72.2 2.9 2.2 6.713 230.18 18.9 648 69.3 70.4 1.1 0.8 16.754 574.41 45.7 1565 70.4 71.6 1.2 0.9 0.462 15.84 1.7 58 71.6 72.2 0.6 0.5 0.810 27.77 4.2 145 80.0 80.6 0.6 0.5 0.820 28.11 10.4 356 ------------------------------------------------------------------------- HSD-85 85.0 93.0 8.0 4.6 6.166 314.24 25.5 874 85.0 86.4 1.6 0.9 6.352 217.78 25.1 860 86.4 93.0 6.6 3.8 9.848 337.64 25.6 878 97.0 101.3 5.6 3.2 62.889 2156.13 154.5 5298 97.0 99.3 2.3 1.3 137.294 4707.13 317.8 10895 99.3 101.3 2.0 1.1 0.244 8.37 2.6 90 101.3 102.6 1.3 0.7 27.624 947.09 99.4 3409 108.5 116.5 8.0 4.6 15.247 522.74 47.2 1620 108.5 112.5 4.0 2.3 6.120 209.82 26.9 923 112.5 116.5 4.0 2.3 24.374 835.66 67.6 2316 ------------------------------------------------------------------------- HSD-86 64.0 69.5 5.5 5.2 25.950 889.73 234.8 8049 64.0 66.1 2.1 2.0 5.493 188.33 23.0 790 66.1 67.6 1.5 1.4 84.913 2911.24 810.1 27773 67.6 69.5 1.9 1.8 2.014 69.05 14.6 500 73.6 77.0 3.4 3.2 0.584 20.02 1.7 59 ------------------------------------------------------------------------- HSD-87 65.0 68.5 3.5 2.7 0.228 7.82 0.6 19 79.3 82.8 3.5 2.7 6.051 207.46 29.7 1019 79.3 80.3 1.0 0.8 0.147 5.04 0.7 23 80.3 81.0 0.7 0.5 17.422 597.33 89.1 3055 81.0 81.5 0.5 0.4 9.299 318.82 31.6 1083 81.5 82.1 0.6 0.5 1.477 50.64 1.1 39 82.1 82.8 0.7 0.5 4.715 161.65 35.0 1199 101.0 102.0 1.0 0.8 0.702 24.09 5.4 184 ------------------------------------------------------------------------- HSD-89 54.0 56.5 2.5 1.6 0.531 18.21 2.6 88 54.0 54.6 0.6 0.4 0.244 8.37 3.3 112 54.6 55.9 1.3 0.8 0.160 5.49 2.4 81 55.9 56.5 0.6 0.4 1.622 55.61 2.3 77 64.1 64.7 0.6 0.4 0.715 24.51 1.1 37 75.3 76.1 0.8 0.5 0.202 6.93 11.0 376 77.7 78.3 0.6 0.4 0.498 17.07 0.4 12 ------------------------------------------------------------------------- HSD-90 49.0 54.5 5.6 4.8 1.014 34.77 1.0 35 49.0 51.2 2.2 1.9 0.687 23.55 0.5 17 51.2 51.6 0.4 0.3 1.254 42.99 2.2 76 51.6 52.1 0.6 0.5 1.336 45.81 2.1 71 52.1 52.4 0.3 0.3 0.307 10.53 0.4 12 52.4 54.5 2.1 1.8 1.320 45.26 1.1 38 64.0 64.8 0.8 0.7 0.174 5.97 0.1 2 ------------------------------------------------------------------------- HSD-91 36.5 37.4 0.9 0.6 0.278 9.53 0.16 5 75.0 77.5 2.5 1.6 0.826 28.32 0.51 18 ------------------------------------------------------------------------- HSD-92 16.0 16.6 0.6 0.5 0.144 4.93 0.19 6 59.5 60.5 1.0 0.8 0.119 4.06 0.24 8 61.5 62.2 0.7 0.6 0.115 3.95 2.22 76 ------------------------------------------------------------------------- HSD-92A 36.7 42.6 5.9 4.8 3.672 125.89 6.54 224 36.7 37.8 1.1 0.9 4.820 165.25 9.21 316 37.8 38.9 1.1 0.9 2.056 70.49 1.81 62 38.9 40.6 1.7 1.4 8.080 277.02 15.11 518 40.6 42.6 2.0 1.6 0.182 6.24 0.40 14 53.9 54.5 0.6 0.5 0.172 5.90 2.04 70 64.5 65.5 1.0 0.8 1.444 49.51 7.35 252 ------------------------------------------------------------------------- HSD-93 19.9 20.6 0.7 0.6 0.198 6.79 0.15 5 135.2 135.7 0.5 0.4 0.562 19.27 0.52 18 ------------------------------------------------------------------------- HSD-93A 39.4 42.5 3.1 2.7 1.686 57.81 4.43 152 58.1 58.7 0.6 0.5 0.386 13.23 0.33 11 ------------------------------------------------------------------------- HSD-94 65.4 66.8 1.8 1.5 3.858 132.27 21.9 751 91.1 91.8 0.7 0.6 0.284 9.39 1.1 37 119.4 120.1 0.7 0.6 1.652 56.64 3.9 137 191.7 192.3 0.6 0.5 1.040 35.66 4.4 152 199.9 200.5 0.6 0.5 0.436 14.95 1.5 50 ------------------------------------------------------------------------- HSD-95 42.8 43.8 1.0 0.6 0.326 11.18 27.99 960 89.1 92.0 2.7 1.5 0.604 20.71 8.94 307 89.1 91.1 1.8 1.0 0.322 11.04 10.73 368 91.1 92.0 0.9 0.5 1.168 40.05 5.37 184 130.4 132.7 2.3 1.3 0.168 5.76 1.05 36 ------------------------------------------------------------------------- HSD-96 47.6 48.0 0.4 0.3 0.690 23.66 1.9 65 67.2 73.0 5.8 4.4 0.611 20.95 6.6 228 67.2 69.8 2.6 2.0 0.930 31.89 13.8 474 69.8 71.8 2.0 1.5 0.426 14.61 0.7 26 71.8 73.0 1.2 0.9 0.228 7.82 0.9 32 81.1 88.0 6.9 5.3 0.572 19.61 0.7 23 ------------------------------------------------------------------------- HSD-97 65.5 66.7 1.2 1.0 6.104 209.28 57.8 1981 116.3 116.9 0.6 0.5 0.221 7.58 1.0 35 188.0 188.8 0.8 0.7 0.369 12.65 3.0 102 ------------------------------------------------------------------------- HSD-98 70.0 71.0 1.0 0.9 1.535 52.63 2.5 87 81.4 84.0 2.6 2.4 1.304 44.71 1.3 43 89.7 90.1 0.4 0.4 0.369 12.65 0.9 31 117.0 122.0 5.0 4.5 0.207 7.10 0.2 6 ------------------------------------------------------------------------- HSD-99 86.0 93.0 7.0 5.7 1.749 59.95 2.31 79 86.0 90.0 4.0 3.3 2.660 91.20 3.00 103 90.0 92.0 2.0 1.6 0.214 7.34 0.48 17 92.0 93.0 1.0 0.8 1.172 40.18 3.21 110 148.8 150.0 1.2 1.0 0.430 14.74 0.92 32 259.0 259.6 0.6 0.5 0.015 0.51 176.72 6059 ------------------------------------------------------------------------- HSD-100 104.3 104.9 0.6 0.6 0.282 9.67 1.2 40 ------------------------------------------------------------------------- HSD-101 82.0 82.5 0.5 0.5 0.564 19.34 1.31 45 ------------------------------------------------------------------------- HSD-102 99.0 102.0 2.0 1.5 0.319 10.93 1.17 40 99.0 99.6 0.6 0.4 0.114 3.89 2.74 94 99.6 101.5 0.9 0.7 0.169 5.79 0.22 8 101.5 102.0 0.5 0.4 0.835 28.63 0.99 34 104.7 105.6 0.9 0.7 2.142 73.44 13.22 453 ------------------------------------------------------------------------- HSD-103 25.8 28.3 2.5 2.2 0.877 30.07 2.22 76 50.6 51.5 0.9 0.8 0.325 11.14 2.92 100 ------------------------------------------------------------------------- HSD-104 3.8 4.3 0.5 0.4 0.142 4.85 3.76 129 18.0 18.9 0.9 0.8 0.516 17.69 0.38 13 22.0 23.3 1.3 1.1 0.279 9.57 2.19 75 71.0 71.9 0.9 0.8 0.543 18.62 0.48 17 85.0 92 7.0 6.1 0.260 8.93 0.16 5 85.0 90.0 5.0 4.4 0.170 5.83 0.15 5 ------------------------------------------------------------------------- HSD-114 90.0 92.0 2.0 1.7 0.487 16.70 0.18 6 ------------------------------------------------------------------------- HSD-105 6.0 8.7 2.7 1.7 0.766 26.26 1.10 38 24.1 27.2 3.1 2.0 0.574 19.69 0.69 24 24.1 24.7 0.6 0.4 0.196 6.72 0.15 5 24.7 27.2 2.5 1.6 0.665 22.80 0.82 28 ------------------------------------------------------------------------- HSD-105 43.0 46.4 3.4 2.2 0.229 7.86 0.19 7 43.0 45.2 2.2 1.4 0.224 7.68 0.18 6 45.2 46.4 1.2 0.8 0.239 8.19 0.21 7 ------------------------------------------------------------------------- HSD-106 36.0 46.8 10.8 9.4 0.259 8.88 1.35 46 36.0 41.0 5.0 4.4 0.128 4.38 0.53 18 41.0 43.0 2.0 1.7 0.342 11.73 0.76 26 43.0 46.8 3.8 3.3 0.388 13.30 2.74 94 67.5 68.1 0.6 0.5 0.232 7.95 0.64 22 85.4 86 0.6 0.5 0.357 12.24 1.06 36 ------------------------------------------------------------------------- HSD-107 15.7 18.6 2.9 2.5 0.194 6.65 9.06 311 21.5 33.8 13.2 11.5 0.604 20.71 2.70 93 21.5 24.2 2.7 2.3 0.289 9.91 7.78 267 24.2 27.4 3.2 2.8 0.423 14.50 0.27 9 27.4 29.1 1.7 1.5 0.579 19.85 0.23 8 29.1 31.0 2.8 2.4 1.097 37.61 3.00 103 31.0 33.8 2.8 2.4 0.637 21.84 1.78 61 HSD-107 43.0 43.5 0.5 0.4 0.516 17.69 0.60 21 48.0 51.5 3.5 3.0 0.225 7.71 0.19 6 ------------------------------------------------------------------------- HSD-108 33.5 34.4 0.9 0.8 0.311 10.66 0.83 29 106.6 107.2 0.6 0.5 0.153 5.25 0.24 8 ------------------------------------------------------------------------- HSD-109 28.0 29.0 1.0 1.0 0.606 20.78 0.99 34 80.2 80.8 0.6 0.6 0.922 31.61 2.74 94 81.6 82.6 1.0 1.0 0.171 5.86 1.58 54 ------------------------------------------------------------------------- HSD-110 105.5 107.2 1.7 1.3 0.336 11.52 2.98 102 ------------------------------------------------------------------------- HSD-111 53.0 53.6 0.6 0.5 2.542 87.15 6.35 218 57.3 58.2 0.9 0.8 0.182 6.24 0.97 33 69.0 70.3 1.3 1.1 0.230 7.90 1.76 60 69.0 69.6 0.6 0.5 0.287 9.84 1.43 49 69.6 70.3 0.7 0.6 0.182 6.24 2.04 70 113.9 114.8 0.9 0.8 0.997 34.18 3.35 115 ------------------------------------------------------------------------- HSD-114 63.0 67.5 4.5 4.4 0.156 5.34 1.61 55 63.0 65.4 2.4 2.3 0.142 4.85 1.49 51 65.4 67.5 2.1 2.0 0.172 5.90 1.75 60 80.7 85.4 4.7 4.5 1.167 55.43 0.90 31 80.7 82.6 1.9 1.8 2.078 71.24 1.11 38 82.6 84.4 1.8 1.7 1.940 66.51 1.03 35 84.4 85.4 1.0 1.0 0.158 5.42 0.27 9 ------------------------------------------------------------------------- HSD-116 102.3 102.9 0.6 0.5 0.141 4.83 0.58 20 188.6 189.6 1.0 0.8 18.383 630.26 399.30 13690 HSD-117 62.5 64.6 2.1 1.7 0.165 5.66 0.11 4 77.0 77.8 0.8 0.6 0.318 10.90 0.13 4 104.0 105.6 1.6 1.3 0.423 14.50 0.45 16 104.0 104.9 0.9 0.7 0.171 5.86 0.10 3 104.9 105.6 0.7 0.6 0.747 25.61 0.91 31 ------------------------------------------------------------------------- HSD- 117A 108.6 109.1 0.5 0.4 0.629 21.57 4.23 145 ------------------------------------------------------------------------- HSD- 117B 119.8 120.4 0.6 0.5 0.177 6.07 0.41 14 175.4 180.0 4.6 3.7 0.790 27.09 3.30 113 175.4 177.7 2.3 1.8 1.053 36.10 3.82 131 177.7 180.0 2.3 1.8 0.527 18.07 2.77 95 ------------------------------------------------------------------------- HSD-118 104.9 107.2 2.3 1.8 36.048 1235.91 380.10 13031 204.0 207.1 3.1 2.4 0.137 4.69 0.07 3 ------------------------------------------------------------------------- HSD-141 58.8 61.7 2.9 1.9 0.559 19.17 0.06 2 87.9 88.8 0.9 0.6 0.185 6.34 0.80 27 91.2 91.9 0.7 0.4 0.270 9.26 0.19 6 ------------------------------------------------------------------------- Q3 Clementine stope drilling results ------------------------------------------------------------------------- Vein Sample Intersection Interval Dril- Est. Analytical Results Drill (ft) (ft) led True ---------------------------- Hole ----------- ---------- Thick- Thick- ID ness ness Au Au Ag Ag From To From To (ft) (ft) (opt) (g/t) (opt) (g/t) ------------------------------------------------------------------------- HSD-112 No significant intercepts ------------------------------------------------------------------------- HSD-113 81.0 87.0 6.0 5.6 0.307 10.51 0.81 28 81.0 82.0 1.0 0.9 0.336 11.52 1.55 53 82.0 84.2 2.2 2.1 0.261 8.95 0.74 25 84.2 87.0 2.8 2.6 0.332 11.38 0.60 20 HSD-113 94.6 95.3 0.7 0.7 0.129 4.44 0.17 6 ------------------------------------------------------------------------- HSD-119 No significant intercepts ------------------------------------------------------------------------- HSD-120 77.0 79.6 2.6 2.1 1.650 56.57 5.34 183 ------------------------------------------------------------------------- HSD-121 62.4 63.3 0.9 0.8 0.050 1.70 12.18 418 ------------------------------------------------------------------------- HSD-122 24.8 28.0 3.2 2.3 0.160 5.49 0.43 15 120.6 122.0 1.4 1.0 0.089 3.05 21.59 740 ------------------------------------------------------------------------- HSD-123 17.0 17.9 0.9 0.8 0.239 8.19 0.18 6 81.1 82.3 1.2 1.0 6.786 232.66 14.91 511 ------------------------------------------------------------------------- HSD-124 69.8 72.7 2.9 2.7 1.898 65.07 7.38 253 ------------------------------------------------------------------------- HSD-126 No significant intercepts ------------------------------------------------------------------------- HSD-127 17.1 17.7 0.6 0.6 0.144 4.95 0.92 32 63.0 63.6 0.6 0.6 0.235 8.06 1.81 62 72.8 74.7 1.9 1.8 2.026 69.48 8.08 277 72.8 73.7 0.9 0.8 3.807 130.52 12.79 438 73.7 74.7 1.0 0.9 0.424 14.54 3.85 132 ------------------------------------------------------------------------- HSD-129 57.0 62.0 5.0 3.5 0.827 28.35 0.08 3 65.0 65.9 0.9 0.6 0.296 10.15 2.16 74 67.1 68.2 1.1 0.8 0.536 18.38 2.48 85 68.2 76.8 8.6 6.0 1.322 45.34 0.50 18 68.2 72.0 3.8 2.7 0.588 20.16 0.83 29 72.0 76.8 4.8 3.4 1.904 65.28 0.30 10 ------------------------------------------------------------------------- HSD-130 57.8 59.6 1.8 1.5 1.080 37.03 6.05 208 63.0 63.5 0.5 0.4 1.854 63.56 17.09 586 68.0 68.6 0.6 0.5 0.776 26.61 7.50 257 ------------------------------------------------------------------------- HSD-131 48.3 49.0 0.7 0.7 0.215 7.37 4.38 150 ------------------------------------------------------------------------- HSD-132 No significant intercepts ------------------------------------------------------------------------- HSD-133 29.0 29.7 0.7 0.7 0.365 12.51 0.80 27 ------------------------------------------------------------------------- HSD-134 29.0 30.7 1.7 1.5 0.130 4.45 0.16 6 49.4 50.3 0.9 0.8 1.626 55.75 1.17 40 ------------------------------------------------------------------------- HSD-135 82.6 83.7 1.1 1.0 0.437 14.98 2.42 83 ------------------------------------------------------------------------- HSD-136 93.0 98.8 5.8 4.8 0.250 8.59 0.78 27 93.0 95.4 2.4 2.0 0.404 13.85 1.66 57 95.4 98.8 3.4 2.8 0.142 4.88 0.16 6 ------------------------------------------------------------------------- HSD-137 No significant intercepts ------------------------------------------------------------------------- HSD-139 No significant intercepts ------------------------------------------------------------------------- DATASOURCE: Great Basin Gold Ltd. CONTACT: Tsholo Serunye in South Africa, 27 (0)11 301 1800; Michael Curlook in North America, 1-888-633-9332; Barbara Cano at Breakstone Group in the USA, (646) 452-2334

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