VANCOUVER, Nov. 10 /PRNewswire-FirstCall/ -- Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (TSX: GBG; AMEX: GBN; JSE: GBG) today announced that it has completed the third 2008 milling test batch at its Hollister Project, in Nevada, USA. Processing of the ore was completed in September and October 2008 at the Midas mill of Newmont Mining Corporation ("Newmont"), located 20 miles from Hollister. The Midas mill processed a test batch of 11,239 tons with a gold head-grade over 1.428 ounces per ton and a silver grade of 11.61 ounces per ton. Hollister Project realized net revenue of approximately $10 million based on the split of payable metal, 80% to Hollister and 20% to Newmont. The Midas mill recovers gold and silver using direct cyanidation, counter-current decantation and a Merrill Crowe recovery system. The results of the milling test batch were: --------------------------------------------------- Processed Wet Tons 11,659 --------------------------------------------------- Processed Dry Tons 11,239 --------------------------------------------------- Gold Contained - ounces 16,000 --------------------------------------------------- Silver Contained - ounces 130,000 --------------------------------------------------- Gold Head Grade - ounces/ton 1.428 --------------------------------------------------- Silver Head Grade - ounces/ton 11.61 --------------------------------------------------- Recovered Gold - ounces 14,000 --------------------------------------------------- Recovered Silver - ounces 117,000 --------------------------------------------------- Gold Recovery - % 88 --------------------------------------------------- Silver Recovery - % 90 --------------------------------------------------- Improved recovery trends on the three test batches indicate that progress is being made in optimizing the Midas circuit for the Hollister high-grade gold and silver veins. This test batch agreement with Newmont was structured to incentivize the highest practicable metal recovery from the Hollister ores. Approximately 28,000 tons of Hollister ore have been processed, project-to-date, in various off-site processing facilities under existing federal and state permits for a small-scale operation during 2007 and 2008. High-grades of the test batch are indicative of successful efforts at trial stoping the Hollister Project narrow veins. The Project team is testing various stoping methods to determine the most efficient and economical method of extracting the high-grade veins. Clementine stopes are being trial-stoped using cut and fill methods; Gwenivere stopes are being trial-stoped using a combination of cut and fill methods as well as shrinkage stoping. President and CEO Ferdi Dippenaar said: "The metallurgical results are showing improvement and we will continue to test various process facilities until we obtain an optimum recovery from the high-grade Hollister veins. Test stoping results are also encouraging with the mining team proving their ability to extract the high-grade veins with minimal dilution and high efficiency. The Hollister Project is also maintaining an exceptional safety performance record, recently completing one year without a lost-time incident". Johan Oelofse, Pr.Eng., FSAIMM, Chief Operating Officer of Great Basin Gold and a qualified person has reviewed this release on behalf of the Company. No regulatory authority has approved or disapproved the information contained in this news release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address possible future commercial production, reserve potential, exploration drilling results, development, feasibility or exploitation activities and events or developments that Great Basin Gold expects to occur are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, geopolitical uncertainty, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at http://www.sedar.com/. DATASOURCE: Great Basin Gold Ltd. CONTACT: For additional details on Great Basin Gold Ltd. and its gold properties, please visit the Company's website at http://www.grtbasin.com/ or contact Investor Services: Tsholo Serunye in South Africa, 27 (0)11 301 1800; Michael Curlook in North America, 1-888-633-9332; Barbara Cano at Breakstone Group in the USA, (646) 452-2334

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