Great Basin Gold's Hollister Project Increases Measured and Indicated Resources by 60% to 1.6 Million Ounces

Great Basin Gold Ltd. (TSX: GBG)(AMEX: GBN)(JSE: GBG) announced today that underground drilling has expanded and upgraded the mineral resources in the measured and indicated category at the Company's Hollister Project on the Carlin Trend in Nevada, USA by 60% from 1 million to 1.6 million ounces. Overall the mineral resources increased by 15% from 2 million to 2.3 million ounces.

Further exploration and infill drilling, totaling approximately 30,000 feet and adding to the 55,000 feet completed for the Feasibility Study, was completed in the period from March 2007 to January 2008 to fill in gaps and to explore the deeper parts of the deposit. Results of the resource estimates based on this drilling at a range of cut-offs are tabulated below. At a 0.25 oz/ton cut-off, approximately 1.6 million gold equivalent ounces are contained in estimated measured and indicated resources of 1,615,000 tons at a grade of 0.87 oz/ton. A further 680,000 gold equivalent ounces are contained in inferred resources of 1,252,000 tons at a grade of 0.51 oz/ton.

HOLLISTER MINERAL RESOURCES JUNE 2008

---------------------------------------------------------------------
RESOURCE  Cut-Off                            GRADE   GRADE     OUNCES
CATEGORY   oz/ton       TONS     TONNES  Au oz/ton  Au g/t         Au
---------------------------------------------------------------------
             0.25  1,121,000  1,017,000       0.91   31.29  1,023,000
             --------------------------------------------------------
MEASURED     0.28  1,027,000    931,000       0.97   33.33    998,000
             --------------------------------------------------------
             0.35    867,000    786,000       1.09   37.50    948,000
---------------------------------------------------------------------
             0.25    494,000    448,000       0.76   26.13    376,000
             --------------------------------------------------------
INDICATED    0.28    442,000    401,000       0.82   28.11    363,000
             --------------------------------------------------------
             0.35    361,000    328,000       0.93   32.00    337,000
---------------------------------------------------------------------
             0.25  1,615,000  1,465,000       0.87   29.71  1,399,000
TOTAL        --------------------------------------------------------
MEASURED &   0.28  1,469,000  1,333,000       0.93   31.76  1,360,000
INDICATED    --------------------------------------------------------
             0.35  1,228,000  1,114,000       1.05   35.88  1,285,000
---------------------------------------------------------------------
             0.25  1,252,000  1,136,000       0.51   17.40    635,000
             --------------------------------------------------------
INFERRED     0.28  1,149,000  1,043,000       0.53   18.14    608,000
             --------------------------------------------------------
             0.35    848,000    770,000       0.61   20.80    515,000
---------------------------------------------------------------------

---------------------------------------------------------------
RESOURCE  Cut-Off      GRADE      GRADE     OUNCES    OUNCES Au
CATEGORY   oz/ton  Ag oz/ton     Ag g/t         Ag   Equivalent
---------------------------------------------------------------
             0.25       5.55     190.45  6,227,000    1,167,000
             --------------------------------------------------
MEASURED     0.28       5.92     202.99  6,078,000    1,138,000
             --------------------------------------------------
             0.35       6.61     226.56  5,725,000    1,080,000
---------------------------------------------------------------
             0.25       2.33      80.00  1,152,000      403,000
             --------------------------------------------------
INDICATED    0.28       2.48      84.93  1,095,000      388,000
             --------------------------------------------------
             0.35       2.69      92.39    974,000      360,000
---------------------------------------------------------------
             0.25       4.57     156.68  7,379,000    1,569,000
TOTAL        --------------------------------------------------
MEASURED &   0.28       4.88     167.45  7,173,000    1,526,000
INDICATED    --------------------------------------------------
             0.35       5.46     187.07  6,699,000    1,440,000
---------------------------------------------------------------
             0.25       1.43      49.10  1,793,000      677,000
             --------------------------------------------------
INFERRED     0.28       1.39      47.74  1,600,000      645,000
             --------------------------------------------------
             0.35       0.99      33.81    837,000      534,000
---------------------------------------------------------------

Gold equivalent was calculated by using the following metal
 prices: US$650/oz for Au and US$15/oz for Ag.
Metallurgical recoveries assumed to be 100% for contained metal
 values.