Poised to become a mid-tier gold producer

Great Basin Gold announces that its interim consolidated financial statements and Management Discussion and Analysis for the quarter ended March 31, 2012 have been filed, and the Company refers the reader to those materials for further information.

Great Basin Gold will hold its Q1 2012 results conference call and webcast on Tuesday, May 15, 2012 at 6:00 am PDT/ 09:00 am EDT/ 2:00 pm BST/ 3:00 pm SAST.

Great Basin Gold announces that RBC Capital Markets, on behalf of the underwriters has exercised the underwriters’ over-allotment option to purchase an additional 10,005,000 common shares at $0.75 per common share and 5,002,500 warrants at a price of $0.90 per warrant, for gross proceeds to the Company of $7,503,750.

Great Basin Gold announces that its audited annual financial statements and Management Discussion and Analysis for the year ended December 31, 2011 have been filed. The Company will review the results during an investor conference call scheduled for April 3, 2012.

Great Basin Gold announces that it has closed its previously announced bought deal offering of units, at a price of $0.75 per Unit, with a syndicate of underwriters led by RBC Capital Markets.

Great Basin Gold will hold its Full Year 2011 audited results conference call and webcast on Tuesday, April 3, 2012 at 6:00am PDT/ 09:00am EDT/ 2:00pm BST/ 3:00pm SAST.

Great Basin Gold announces that the Company and the syndicate of underwriters led by RBC Capital Markets have agreed to terminate the previously announced public offering.

Great Basin Gold 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.

Great Basin Gold is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets pursuant to which the underwriters have agreed to, on a bought deal basis, buy 61,000,000 common shares of the Company at a price of C$0.82 per common share for aggregate gross proceeds of approximately C$50 million, by way of a short form prospectus.

Great Basin Gold provides updates on progress at operations and exploration and drilling results for its Hollister Project and Burnstone Mine.