Mr. Peeyush Varshney reports

GPS INCREASES FOOTPRINT IN AUSTRALIA

Great Plains Metals Corp. has signed an earn-in and joint venture agreement with Godolphin Tenenments Pty. Ltd., a wholly owned subsidiary of Australian Securities Exchange-listed Godolphin Resources Ltd., over the Yeoval Goodrich project in New South Wales, Australia.

Key terms:

• The earn-in and joint venture agreement allows for Great Plains Metals to earn a 70-per-cent project interest by completing the two milestones:
  • 51-per-cent project interest, earned by making exploration expenditures of $1-million (Australian) over a 12-month period to include a minimum of 500 metres of drilling;
  • A further 19-per-cent project interest, earned by making further exploration expenditures of $1-million (Australian) over the subsequent 12-month period to include a minimum of 500 metres of drilling.
• Great Plains Metals will be focused on exploring for a potential discovery of a large-tonnage porphyry gold-copper system.

Yeoval Goodrich project

The project consists of two tenements, EL 8538 and EL 9243.

The Yeoval project is located approximately 70 kilometres northwest of Orange in central New South Wales. The tenements cover an area of approximately 290 square kilometres. The area is underlain by granites, granodiorites and volcanics, and more than 60 historic mine workings occur within the project. The project area is readily accessible by sealed and unsealed roads and is adjacent to railway infrastructure.

The Goodrich mine is a historic copper-gold mine and was a major producer between 1868 and 1912.

The many gold-copper showings in the Yeoval district have been explored almost continuously since the 1960s, though mostly at shallow levels only, including completing both reverse circulation (RC) and diamond drill holes. Most of this exploration was carried out prior to the Discovery 2000 airborne magnetics and radiometrics becoming available for parts of the Lachlan fold belt, including the Yeoval district.

Copper, gold and other base metal mineralization is widespread in the region and the main mineralization styles include porphyry-style gold-copper mineralization.

The company is planning to publish a new website in due course.

Aidan Bishop, director, commented: "I am delighted that GPS has increased our footprint in Australia, a Tier 1 mineral jurisdiction, following adopting our new name to reflect our strategic focus. We have recalibrated our portfolio to focus on drill-ready exploration opportunities where a low-cost, rapid discovery model can be applied. GPS believes that this approach offers the most attractive risk-reward basis for creating value for shareholders.

"The Yeoval Goodrich project is at the most advanced exploration stage of the projects in our portfolio and we anticipate moving at pace to get on the ground and commence work. I look forward to providing further updates to the market in due course."

Qualified person

The scientific and technical data contained in this news release have been reviewed and approved by Douglas J. Kirwin, who served as the qualified person (QP) under the definition of National Instrument 43-101.