GBM Resources ASX Announcement/Media Release 11 January 2011 Airborne Magnetic Data Extends IOCG Potential at Milo, Brightlands Copper‐Gold Project, North‐West Queensland 3D modelling of airborne magnetic data for the Milo IOCG Prospect area has increased the potential for mineralisation to extend beyond the recently released initial exploration target of between 30Mt and 80Mt within a grade range of 0.8% and 1.2% Cu equivalent. Key points from initial examination of this model in conjunction with other available data are; - Model shows the magnetic feature associated with Milo mineralisation extends further to the South East and North West. - Initial field inspection has confirmed that alteration and mineralisation does extend to the south east. - Magnetite (likely source of magnetic anomalies) shows a general correlation with copper mineralisation in data available from drilling completed to date. - Drill testing of this area may result in an increase to the recently released initial exploration target of between 30Mt and 80Mt within a grade range of 0.8% and 1.2% Cu equivalent. - The Milo area appears to be part of a large semicircular magnetic feature containing several other magnetic highs which require follow up field work. Australian resources company GBM Resources Limited (ASX:GBZ) ("GBM or "the Company") has received positive results from the airborne magnetic survey ,that continues to support the Milo prospect at its Brightlands Copper Gold Project in North‐West Queensland has potential to be a large Iron Oxide Copper Gold (IOCG) system to be hosted within the extensive breccia developed in the prospect area. GBM commissioned a detailed low level (40m terrain clearance) airborne magnetic survey in the second half of 2010 over the northern section of the Brightlands project area to assist in geological interpretation and target definition.

Data from this survey has been incorporated into a 3D Inversion to produce a model that best represents the magnetic properties of rocks in the Milo Prospect area to assist in interpretation and target generation following the successful drilling program completed in 2010. The 3D Model shows the magnetic feature associated with Milo mineralisation extends further to the South East and North West‐ demonstrating the potential to increase the initial exploration target size. Highlights from the 4 hole diamond program released to the ASX on 14 December 2010 are below: Results from recently completed diamond drill program of 1600m at Milo Prospect confirmed potential for a large Iron Oxide Copper Gold (IOCG) system to be hosted within the extensive breccia developed in the prospect area. - Significant results ‐ BTD024: 107m @ 0.8% Cu equivalent including 37m @1.1% Cu equivalent - BTD025: 86m @ 0.8% Cu equivalent including 27m@ 1.2% Cu equivalent and 18m @ 1.3% Cu equivalent. - Initial Exploration Target of 30 to 80 million tonnes within a grade range of 0.8% and 1.2% Cu equivalent. - Drilling program confirms consistent mineralisation over broad intervals with significant results for copper, gold, silver, molybdenum, cobalt and uranium. - The Milo IOCG mineralising system remains open both at depth and along strike which suggests potential for future increases in exploration target size. - Drilling to date supports that Milo has the potential to be a large breccia hosted, poly‐metallic IOCG system. The forward program at the Milo prospect will commence after the normal North‐West Queensland wet season (approximately March 2011) and will involve: - Drilling to test the depth and the strike of the current work area to confirm and or expand the initial exploration target size of 30‐80 million tonnes grading between 0.8% to 1.2% Cu equivalent, - Drill test the magnetic high that sits alongside the current work area, - Complete a step‐out drill program over the 2km strike to confirm Milos mineralizing potential, and - Complete metallurgical test work to provide indicative recovery data for a project scoping study. - The results from this program would provide the basis for resource drilling to follow. The Milo Prospect at the Brightlands Cu Au Project remains the Companys primary focus.

The T2 prospect at Tiger will be progressed along with other exploration targets during 2011. For more information please click on the link. http://esp.gewru.com/download/files/12414/1297425/Extends%20IOCG%20potential%20at%20Milo.pdf For further information contact: Peter Thompson Managing Director GBM Resources Limited Tel: 08 9316 9100 Karen Oswald Professional Public Relations Tel: 0423 602 353 E:
--------------------------------------------------------------------------- This email was sent by Karen Oswald, Professional Public Relations, 588 Hay St, SUBIACO WA 6008 to Unsubscribe: http://esp.gewru.com/forms/u/396d2d8/12414/1785189602.html ---------------------------------------------------------------------------