| Wed 19 Sep 2007, 14:34 | | GBG - Great Basin Gold Announces Acceptance Of Bur |
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GBG
GBG
GBG - Great Basin Gold Announces Acceptance Of Burnstone Mining Rights
Application By The Department Of Minerals And Energy In South Africa
GREAT BASIN GOLD LIMITED
(Incorporated in Canada and registered as an External Company in South
Africa)
(Registration No. 2006/021304/10)
Share Code: GBG & ISIN Number: CA3901241057
("Great Basin" or "the Company")
GREAT BASIN GOLD ANNOUNCES ACCEPTANCE OF BURNSTONE MINING RIGHTS
APPLICATION BY THE DEPARTMENT OF MINERALS AND ENERGY IN SOUTH AFRICA
September 19, 2007, Vancouver, BC - Great Basin Gold Ltd. ("Great Basin
Gold" or the "Company") 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
For additional details on Great Basin and its gold properties, please visit
the Company`s website at www.grtbasin.com or contact Investor Services:
Tsholo Serunye in South Africa 27 (0) 11 884 1610
Melanee Henderson in North America 1 800 667-2114
Barbara Cano at Breakstone Group in the USA (646) 452-2334
No regulatory authority has approved or disapproved the information
contained in this news release.
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.
Date: 19/09/2007 14:34:14 Produced by the JSE SENS Department.
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