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GREAT BASIN GOLD



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Published date : 2012-03-14  
   

Great Basin Gold
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March 14, 2012, Vancouver, BC – Great Basin Gold Ltd.

(“Great Basin Gold” or the “Company”), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) in order provide additional clarification with regards to its Black Economic Empowerment partner, Tranter Burnstone (Pty) Ltd.

(“Tranter”), which is owned by historically disadvantaged South Africans (“HDSA”), has been notified that Tranter is currently in default of the requirements of their loan agreement with Investec Bank Ltd (“Investec”) under which it borrowed ZAR 200 million ($27 million) to partly fund the purchase of 19,938,650 treasury common shares in Great Basin Gold in 2007.

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Investor Relations Team

 
       
Michael Curlook
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Development

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Tsholo Serunye
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Barbara Cano
Breakstone Group

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