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GBG : TSX, NYSE Amex, JSE

www.grtbasin.com / gbgold.mobi

2009-11-19

GREAT BASIN GOLD ANNOUNCES CLOSING OF C$126.5 MILLION BOUGHT DEAL PUBLIC OFFERING OF CONVERTIBLE DEBENTURES

November 19, 2009, Vancouver, BC – Great Basin Gold Ltd.

("Great Basin Gold" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it has closed its previously announced bought deal offering of senior unsecured convertible debentures (the "Debentures") with a syndicate of underwriters led by RBC Capital Markets and including, BMO Capital Markets, Raymond James Ltd.

and Thomas Weisel Partners Canada Inc (the "Offering").

The underwriters have exercised their over-allotment option resulting in aggregate gross proceeds of C$126.5 million.

Read more

Michael Curlook
IR Manager & Corporate Development
Toll Free: 1 888-633-9332

or

Tsholofelo Serunye
Investor Relations Officer
Office: +27 11 301 1800

or

Barbara Cano
Breakstone Group
Office: 1-646-452-2334

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