Great Basin Gold Ltd. (fka GBGLF)

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THE REAL GREAT BASIN STORY

The below news release says it all and what I have stated in my Great Basin Analysis, this company is a real winner and will be for decades to come. Doing the math the Hollister Mine has 880,000 Aueq oz and the Burnstone Mine has 6,350,000 Aueq oz that is a total of 7,230,000 onces of gold over the next two decades and their going into production now. At the current low price of gold at $1400 per oz that comes to $10,122,000,000, that is over 10 billion dollars for a company current stock price of under $3 per share and this is a real company not some Wall Street joke like GM. Do the math with the increasing price of gold and you have a junior mining company that is grossly under valued right now. The below figures do not include future discoveries on locations or new projects in the works. At this current price it is a retirement asset dream come true. Buy it now and just wait a few years and retire on just this one company. Below is the URL for the entire article.

http://www.kitco.com/pr/1738/article_02022011091343.pdf

GREAT BASIN GOLD UPDATES HOLLISTER AND BURNSTONE MINERAL RESERVES
AND LIFE OF MINE ESTIMATES AND ANNOUNCES NEW TERM LOAN FINANCING
Highlights
· Hollister updated Mineral Reserve and 2011E production guidance of approximately 110,000
recovered gold equivalent ounces (Au(eqv) oz)
· Hollister forecast Life of Mine (“LOM”) average production of 110,000 Au(eqv) oz over 8 years at
steady state with a cash cost, inclusive of royalties of approximately US$527 per Au(eqv) oz
recovered over the LOM.
· Burnstone updated Mineral Reserve increased by 55% and 2011E production guidance of 110,000
to 140,000 recovered gold oz (Au oz)
· Burnstone forecast LOM average production of 254,000 Au oz over 25 years at steady state with a
cash cost, inclusive of royalties, of US$450 per Auoz recovered over the LOM
· Final credit approval for Term Loan financing of US$60 million of which US$52 million will be used
to retire senior secured notes
February 2, 2011, Vancouver, BC - Great Basin Gold Ltd. (“Great Basin Gold” or the “Company”), (TSX: GBG;
NYSE Amex: GBG; JSE: GBG) announces increases for both its Hollister Project and Burnstone Mine Mineral
Reserve and life-of mine (“LOM”) estimates. The Company has also received credit committee approval for a
US$60 million Term Loan financing from Credit Suisse AG, the proceeds of which will be used to repay the high
cost Senior Secured Notes issued during the 2008 credit crisis.