Great Panther Mining Ltd (GPLDF)

[NYBob]

GPL 2011 SECOND QUARTER HIGHLIGHTS



• Closed equity offering for gross proceeds of $24.2 million on April 12, 2011.

• Cash and cash equivalents of $37.7 million at June 30, 2011.

• 8% decrease in revenue to $8.6 million for the quarter ended
June 30, 2011 from $9.3 million for the same period in 2010.

• 39% increase in revenue to $24.0 million for the six months
ended June 30, 2011 from $17.0 million for the same period in
2010.

• 15% increase in gross profit (earnings from mining operations)
to $4.0 million for the three months ended June 30, 2011 from
$3.4 million for the same period in 2010.

• 43% decrease in net income to $2.5 million for the quarter
ended June 30, 2011 from $4.4 million for the same period in
2010, due to a one-time deferred income tax recovery of $3.1
million in 2010.

• 25% increase in Adjusted EBITDA(3) to $3.1 million for the
three months ended June 30, 2011 from $2.5 million for the
three months ended June 30, 2010.

• 2% decrease in overall metal production to 562,944 silver
equivalent ounces ("Ag eq oz") for the quarter ended June 30,
2011 from 574,740 for the same period in 2010.

• 6% decrease in silver production from 410,583 for the quarter
ended June 30, 2010 to 386,210 Ag oz for the quarter ended
June 30, 2011.

• 31% increase in gold production to 1,931 Au oz for the three
months ended June 30, 2011 compared to 1,474 Au oz for the same
period in 2010.

• 3% increase in overall metal production at Topia for a
quarterly record of 212,108 Ag Eq oz as compared to the same
period in 2010.

• 18% increase in silver production at Topia for a quarterly
record of 143,774 Ag oz as compared to the same period in 2010.

• 30% increase in plant throughput at both operations to 56,643
from 43,555 tonnes for the three months ended June 31, 2011
and 2010, respectively.
Exploration drilling continues from surface at San Ignacio
and from underground at Rayas and Guanajuatito in Guanajuato.

• 54% increase in cash cost per silver ounce, net of by-products,
for the second quarter of 2011 to US$11.84 from US$7.70
for the second quarter of 2010. Cash costs are higher due
to the impact of higher metal prices and lower ore grades
while site unit costs per tonne of ore processed remain
unchanged.

• Joined the Russell Global Index and the Market Vectors Junior
Gold Miners Index raising the Company profile with investment
managers and institutional investors.

• On July 12, 2011, purchased the new Santa Rosa silver-gold
project totalling 1,514 hectares, approximately 10 to 15
kilometres northeast of Guanajuato, Mexico for US$1.5 million,
increasing land holdings in Guanajuato by 136%.

(1) Silver equivalent ounces in 2011 were established using
prices of US$1,200 per oz of gold, US$20 per oz of silver,
US$0.90 per lb of lead, and US$0.90 per lb of zinc.

(2) "Cash cost per ounce" is a non-IFRS measure and is used
by the Company to manage and evaluate operating performance
at each of the Company's mines and is widely reported in
the silver mining industry as a benchmark for performance,
but does not have a standardized meaning.

(3) "Adjusted EBITDA" is a non-IFRS measure in which standard
EBITDA (earnings before interest expense, taxes, and
depreciation and amortization) is adjusted for stock-based
compensation expense and non-recurring items.
Refer to the "Non-IFRS Measures" section of management's
discussion and analysis for the three and six months
ended June 30, 2011 for a reconciliation of standardized
and adjusted EBITDA to the financial statements.

2011 OUTLOOK

As we reach the mid-point of our three-year growth strategy
(2010 – 2012), production from both operations continues
to grow, plant capacities have been increased to meet
the anticipated demand, mineral resources are being updated
and increased, and exploration drilling is being increased.

The new NI 43-101 Mineral Resource estimates for San Ignacio
and Guanajuatito are being prepared for release later this
year while the resources for other areas of Guanajuato will
be updated as new drilling data is interpreted.
The anticipated development of the San Ignacio Property
combined with the improved mineral resources at Guanajuato
and Topia support ongoing growth and increased throughput.

Operating efficiencies will allow for further increases such
that production upside will remain at both mines.
The recent drop in ore grades at both operations is being
addressed as the cost per ounce at both mines is sensitive
to grade.
The 2012 mine plans will be confirmed once the drill results
for the current programs have been interpreted, and mineral
resources are updated.

In response to delays in shipments of concentrate from our
Guanajuato mine stemming from technical reasons with our
metal trader's smelter, we have been working directly with
the trader and other concentrate purchasers in order to sell
the balance.
Consequently, we have reached a new agreement, with another
mine operator in Mexico, whereby they will start processing
Guanajuato concentrates on a monthly basis.
We expect that this new arrangement, together with the
existing contract, will allow us to sell the concentrate
inventory on hand at Guanajuato through the balance of 2011.

Teleconference to Review Second Quarter 2011 Financial Results

The Company will hold a conference call to discuss the
financial results tomorrow, August 12, at 7:00 AM Pacific
Time, 10:00 AM Eastern Time.
Hosting the call will be Mr. Robert Archer, President and
Chief Executive Officer and Mr. Martin Carsky, Executive
Vice President and Chief Financial Officer.

We welcome interested shareholders, analysts, investors
and media to join us in the live conference call by dialing
just prior to the starting time.

Dial in number (Toll Free): 1-877-407-9205
Dial in number (International): [phone]
No passcode is required

Replay number (Toll Free): 1-877-660-6853
Replay number (International): [phone]
Replay Passcodes (both are required for playback):
Account #: 286
Conference ID #: 377042

A replay of the teleconference call will be available until
August 26, 2011 by dialing the numbers above.
In addition, the call will be archived in the Company's website.

ABOUT GREAT PANTHER

Great Panther Silver Limited is a profitable, primary silver mining and exploration company listed on the Toronto Stock Exchange, trading under the symbol GPR and on the NYSE Amex, trading under the symbol GPL. The Company's current activities are focused on the mining of precious and base metals from its two wholly-owned operating mines in Mexico. In addition, the Company is also pursuing acquisition opportunities throughout Latin America to add additional mines to its portfolio of properties. Great Panther's mission is to become a leading primary silver producer by acquiring, developing and profitably mining precious metals.

All shareholders have the ability to receive a hard copy of the Company's complete audited financial statements free of charge upon request. Should you wish to receive Great Panther Silver's Financial Statements or the Annual Report on Form 20-F in hard copy, please contact us at the Company toll free at 1-888-355-1766 or 604-608-1766, or e-mail [e-mail].

ON BEHALF OF THE BOARD

Robert A. Archer, President CEO

Kaare G. Foy, Executive Chairman

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