Great Basin Gold Announces Additional High Grade Intercepts in the Newly Discovered Hatter Graben Vein System at Hollister Project



    FIRST RESULTS FROM SOUTH VELVET AREA SHOW PROMISE

    VANCOUVER, Sept. 3 /CNW/ - Great Basin Gold Ltd. (TSX: GBG; AMEX:   GBN;
JSE: GBG) ("Great Basin" or the "Company"), announces additional results from
their surface exploration drill program at the Hollister Project in Nevada.
Additional high-grade intercepts are reported from their recently discovered
Hatter Graben Vein System as well as the first two results from exploration
undertaken in the South Velvet area.
    Drill results show the Hatter Graben veins occur in a robust and wide
east-west trending structural zone containing several sub-parallel
bonanza-grade veins similar to the Gwenivere and Clementine vein systems that
the Company is currently developing underground. Drilling to date targeted the
vein system down-dip and along a strike length of 400 ft (122 m) to the west
and 1500 ft (457 m) to the east from the initial drill holes (see news release
dated June 23 2008).
    With assays in from 7 of the 10 holes drilled on the Hatter Graben vein
system, early results indicate that the system is approximately 1000 ft
(300 m) deeper than the Gwenivere and Clementine vein systems located 5000 ft
(1,524 m) west of the new discovery. It appears that these veins were
intersected at the top of the mineralized horizon and generally improve in
grade and width at depth and break up into breccias and stringers at higher
elevations. Drilling will continue to focus on better definition of the
mineralization down-dip and along strike.

    Hatter Graben Vein System Highlights:

    Hole H8-269 tested the vein system about 400 ft west of the original
discovery holes H8-264 and H8-265. The hole was lost at 2155 ft (656.8 m);
therefore, only tested the upper brecciated and sheet vein zone of the system.
From 2123.5 - 2125.6 ft (647.2 - 647.9 m), a quartz vein was encountered with
a true thickness of 1.4 ft (0.4 m) grading 1.77 oz/t (60.7 g/t) Au and Ag
(greater than) 5.8 oz/t ((greater than) 200 oz/t) Ag (over-limit assays are
still pending). An intercept of interest was encountered higher in the hole
from 1413.5 -1418.2 (430.8 - 432.3 m) grading 3.3 ft (1.0 m) of 0.441 oz/t
(15.11 g/t) Au and 1.35 oz/t (46.3 g/t) Ag. This intercept is hosted by the
overlying Tertiary volcanic rocks, suggesting the presence of additional veins
deeper in Hollister's Ordovician host rocks.
    Hole H8-274 tested the vein system about 300 ft (100 m) west of the
original discovery holes H8-264 and H8-265. This hole intersected four
high-grade naumannite banded veins which include: from 1739.0 -1743.0 ft
(530.0 - 531.3 m) 2.6 ft (0.8 m) grading 1.12 oz/t (38.5 g/t) Au and 16.80
oz/t (576.0 g/t) Ag, from 2228.0 - 2228.9 ft (679.1 - 679.4 m) 0.6 ft (0.2 m)
grading 0.23 oz/t Au (7.9 g/t) Au and 2.36 oz/t (81.0 g/t) Ag, and from 2289.8
- 2291.2 ft (697.9 - 698.4 m) 1.0 ft (0.3 m) grading 7.82 oz/t (268.0 g/t) Au
and 18.11 oz/t (621.0 g/t) Ag, and from 2653.8 - 2655.8 ft (808.9 - 809.5 m)
1.41 ft (0.4 m) grading 0.52 oz/t (17.9 g/t) Au and 10.4 oz/t (357.0 g/t) Ag.

    South Velvet Highlights:

    This area, which is in close proximity to the Clementine Vein System and
within the Hollister Development Block, was targeted for exploration earlier
in the year. Results from the first two drill holes confirm the prospectivity
of this area.
    Hole H8-270 targeted historic drill hole intercepts with anomalous gold
in the overlying Tertiary volcanic rocks approximately 1200 ft (366 m) north
of Hollister's underground development. Disseminated mineralization in the
Tertiary volcanic rocks was encountered from 401.0 - 426.0 ft (122.2 -
129.8 m) with a 25.0 ft (7.62 m) composited grade of 0.29 oz/t (9.9 g/t) Au
and 0.50 oz/t (17.032 g/t) Ag including 4.0 ft (1.2 m) of 0.777 oz/t
(26.4 g/t) Au and 1.05 oz/t (36.0 g/t) Ag. This intercept indicates the
presence of proximal high-grade epithermal veins in the underlying Ordovician
host rocks. The current exploration program is being updated to target the
underlying vein system.

    
               Hollister Surface Drill Results - September 2008

    -------------------------------------------------------------------------
    Vein      Drill      Vein                   Significant Intercepts
    System    Hole   Intersection    ----------------------------------------
               ID        (ft)        Sample Interval     Drilled    Est. True
                     ------------        (ft)           Thickness     Width
                     From      To    ---------------      (ft)         (ft)
                                     From         To
    -------------------------------------------------------------------------
    Hatter
    Graben   H8-264  1570    1571                           1           0.7
                    1580.2  1586.3                         6.1          4.3
                                    1580.2      1581.0                  0.6
                                    1581.0      1585.6                  3.3
                                    1585.6      1586.3                  0.5
                    1595.6  1596.4                         0.8          0.6
                    1610.0  1613.0                          3           2.1
                                     1610       1610.9     0.9          0.6
                                    1610.9       1612      1.1          0.8
                                     1612        1613       1           0.7
                    1645.7  1647.8                         2.1          1.5
                     1686   1686.6                         0.6          0.4
                    1709.5  1710.5                          1           0.7
                    1741.9  1742.4                         0.5          0.4
                    1748.6  1749.3                         0.7          0.5
                    1780.5  1784.2                         3.7          2.6
                                    1780.5      1781.3     0.8          0.6
                                    1781.3      1783.5     2.2          1.6
                                    1783.5      1784.2     0.7          0.5
                    2059.7  2067.5                         7.8          5.5
                                    2059.7       2061      1.3          0.9
                                     2061       2062.4     1.4          1.0
                                    2062.4      2063.8     1.4          1.0
                                    2063.8      2066.8      3           2.1
                                    2066.8      2067.5     0.7          0.5
    -------------------------------------------------------------------------
    Hatter
    Graben   H8-265 1019.0  1020.0                         1.0          0.6
                    1021.7  1028.5                         6.8          4.4
                    1077.7  1082.0                         4.3          2.8
                    1102.1  1109.0                         6.9          4.4
                    1110.7  1121.7                        11.0          7.1
                    1139.0  1144.3                         5.3          3.4
                    1459.0  1464.0                         5.0          3.2
                    1472.6  1475.5                         2.9          1.9
                    1484.2  1486.4                         2.2          1.4
                    1537.8  1539.0                         1.2          0.8
                    1563.9  1565.0                         1.1          0.7
                    1663.5  1666.8                         3.3          2.1
                    1687.0  1689.0                         2.0          1.3
                    1769.4  1770.4                         1.0          0.6
                    1771.5  1772.6                         1.1          0.7
                    1907.1  1907.9                         0.8          0.5
                    1948.2  1954.0                         5.8          3.7
                    2094.0  2095.0                         1.0          0.6
                    2160.2  2162.5                         2.3          1.5
                    2224.5  2225.4                         0.9          0.6
                    2334.5  2336.4                         1.9          1.2
                    2583.0  2585.5                         2.5          1.6
    -------------------------------------------------------------------------
    Hatter
    Graben  H7-233  1400.5  1402.5                         2.0          1.4
    South           1755.8  1757.4                         1.6          1.1
                    1815.0  1826.0                        11.0          7.8
                                    1815.0      1816.0     1.0          0.7
                                    1816.0      1826.0    10.0          7.1
                    1888.3  1889.2                         0.9          0.6
                    2041.3  2042.6                         1.3          0.9
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-267  1803.5  1804.5                         1.0          0.7
                    2083.2  2084.0                         0.8          0.6
                    2154.7  2155.4                         0.7          0.5
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-269  1413.5  1418.2                         4.7          3.3
                    2123.5  2125.6                         2.1          1.5
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-271B 1199.0  1204.0                         5.0          3.5
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-274  1739.0   1743                          4.0          2.6
                    2228.0  2228.9                         0.9          0.6
                    2289.8  2291.2                         1.4          1.0
                    2653.8  2655.8                         2.0          1.4
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-275  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-276  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-277  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Stock   H8-268  No Significant Intercepts
    -------------------------------------------------------------------------
    Hatter
    Stock   H8-272  No Significant Intercepts
    -------------------------------------------------------------------------
    South
    Velvet  H8-266   559.7   563.6                         3.9         1.95
                     588.0   589.0                         1.0          0.5
    -------------------------------------------------------------------------
    South
    Velvet  H8-270   401.0   426.0                        25.0        17.68
                                     401.0       405.0     4.0         2.83
                                     405.0       409.0     4.0         2.83
                                     409.0       411.9     2.9         2.05
                                     411.9       417.0     5.1         3.61
                                     417.0       421.0     4.0         2.83
                                     421.0       426.0     5.0         3.54
    -------------------------------------------------------------------------
    South
    Velvet  H8-273   No Significant Intercepts
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Vein      Drill                   Significant Intercepts
    System    Hole   --------------------------------------------------------
               ID                       Analytical Results
                     --------------------------------------------------------
                       Au               Au              Ag              Ag
                      (opt)            (g/t)           (opt)           (g/t)


    -------------------------------------------------------------------------
    Hatter
    Graben   H8-264   0.179             6.1             1.00            34.0
                      0.247             8.4             0.84            28.7
                      0.088             3.0             1.90            66.0
                      0.013             0.4    less than 0.1     less than 5
                      1.980            67.8             8.20           282.0
                      2.220            76.0             6.50           223.0
                      0.236             8.1             1.30            45.7
                      0.391            13.4             2.30            78.0
                      0.012             0.4    less than 0.1     less than 5
                      0.343            11.8             1.70            59.0
                      0.594            20.4             4.20           145.0
                      0.017             0.6    less than 0.1     less than 5
                      0.333            11.4             3.00           102.0
                      0.006             0.2    less than 0.1     less than 5
                      0.128             4.4             0.70            23.0
                      0.214             7.3             1.70            78.1
                      0.120             4.1             0.60            21.0
                      0.032             1.1             0.20             7.0
                      0.895            30.7             7.60           261.0
                      0.540            18.6             3.90           115.8
                      0.073             2.5            10.70           366.0
                      0.095             3.3             2.10            71.0
                      1.470            50.5             5.40           184.0
                      0.008             0.3    less than 0.1     less than 5
                      2.720            93.3             8.20           282.0
    -------------------------------------------------------------------------
    Hatter
    Graben   H8-265   0.313            10.7             0.01             0.2
                      0.116             4.0             0.00             0.1
                      0.104             3.6             0.00   less than 0.1
                      0.116             4.0             0.00             0.1
                      0.155             5.3             0.00             0.1
                      0.128             4.4             0.01             0.4
                      0.112             3.9             0.15             5.0
                      0.540            18.5             3.59           123.0
                      0.657            22.5             3.68           126.0
                      0.111             3.8             0.30            10.2
                      0.101             3.5             0.12             4.0
                      1.280            44.0             6.20           211.0
                      1.125            38.5             7.00           241.0
                      0.352            12.1             3.30           113.0
                      0.105             3.6             1.50            50.0
                      0.155             5.3    less than 0.1     less than 5
                      0.118             4.0    less than 0.1     less than 5
                      0.155             5.3             1.30            46.0
                      1.110            38.0             7.50           259.0
                      0.291            10.0             1.70            57.0
                      0.333            11.4             0.20             8.0
                      1.355            46.4             5.50           188.0
    -------------------------------------------------------------------------
    Hatter
    Graben  H7-233    0.111             3.8             0.34            11.5
    South             0.136             4.7             0.09             3.1
                      0.154             5.3             0.70            24.1
                      0.216             7.4             5.48           188.0
                      0.148             5.1             0.22             7.7
                      0.113             3.9             1.18            40.6
                      0.132             4.5             0.60            20.6
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-267    0.208             7.1      greater        greater
                                                    than 5.8       than 200
                      0.165             5.7             2.80           96.0
                      0.418            14.3             1.58           54.0
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-269    0.441            15.1             1.35           46.3
                      1.770            60.7      greater        greater
                                                    than 5.8       than 200
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-271B   0.234             8.0             0.30           10.4
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-274    1.120            38.5            16.80          576.0
                      0.232             7.9             2.36           81.0
                      7.820           268.0            18.11          621.0
                      0.520            17.9            10.40          357.0
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-275  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-276  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Graben  H8-277  Being Processed
    -------------------------------------------------------------------------
    Hatter
    Stock   H8-268  No Significant Intercepts
    -------------------------------------------------------------------------
    Hatter
    Stock   H8-272  No Significant Intercepts
    -------------------------------------------------------------------------
    South
    Velvet  H8-266    0.103            3.54            0.018            0.6
                      0.106            3.63             0.09            3.1
    -------------------------------------------------------------------------
    South
    Velvet  H8-270    0.291           9.919            0.497         17.032
                      0.508            17.4            1.079             37
                      0.777            26.4             1.05             36
                      0.069            2.35            0.496             17
                      0.121            4.14   less than .146    less than 5
                      0.113            3.86            0.175              6
                      0.172            5.88            0.204              7
    -------------------------------------------------------------------------
    South
    Velvet  H8-273   No Significant Intercepts
    -------------------------------------------------------------------------
    (*) Previously Reported Results
    

    President and CEO, Ferdi Dippenaar commented, "We have made good progress
with the exploration program at the Hatter Graben Vein System and now extended
to include the South Velvet area. The results from the South Velvet area are
significant in that this area is in close proximity to the currently developed
underground infrastructure within the Hollister Development Block. This area
has historically had many high-grade intercepts in the overlying Tertiary
volcanic rocks, so the two current holes are encouraging. The plan is to
target the source of the fluids that generated these veins, which typically
originate from vein structures in the deeper host rocks. Further exploration
will be undertaken in both areas to determine the size and extent of the
mineralization following a review of the program and once all the results have
been received."
    Johan Oelofse, PrEng, FSAIMM, Chief Operating Officer for the Company and
a qualified person, has reviewed this news release on behalf of Great Basin
Gold.
    The Company will be presenting its progress with exploration at the
Hollister Property in more detail at the Denver Gold Conference on the
September 8, 2008. The presentation will be available on the website.

    
    -------------------------------------------------------------------------
    Samples collected from the Hollister Development Block Project are stored
    in a secure facility until picked up by Inspectorate America Corporation
    (Inspectorate) of Sparks, Nevada. Vein samples are analyzed by either
    metallic screen or standard fire assay procedures. For metallic screen
    analyses, vein sample preparation consists of drying and jaw-crushing the
    entire sample to 90% passing 10-mesh, taking a 500 g sub-sample using a
    rotary splitter, and then pulverizing the 500 g sub-sample to 90% passing
    150-mesh using a large capacity ring and puck pulverizer. Gold and silver
    determinations are by metallic screen analysis, with two 1 assay-ton (30
    g) fire assays completed on the fine fraction; the coarse fraction is
    fire assayed in its entirety. For standard fire assay, vein sample
    preparation consists of drying and jaw-crushing the entire sample to 90%
    passing 10-mesh, taking a 300 g sub-sample using a Jones splitter, and
    then pulverizing the 300 g sub-sample to 90% passing 150-mesh using a
    large capacity ring and puck pulverizer. A 30 g charge is fire assayed.
    All metal determinations are by gravimetric finish. Vein samples analyzed
    by standard fire assay will be re-assayed using metallic screen
    procedures. Laboratory Quality Assurance/Quality Control (QA/QC) is
    monitored using coarse reject blanks and assay standards, duplicate fire
    assays, and Inspectorate's internal standards and blanks. Coarse blanks
    (barren rhyolite or landscape marble) and assay standards are inserted
    into the sample sequence as blind samples prior to submitting the samples
    to the laboratory. Inspectorate also inserts assay standards and blanks
    into the sample stream. QA/QC results are within acceptable limits.
    -------------------------------------------------------------------------

    No regulatory authority has approved or disapproved the information
    contained in this news release.

             Cautionary and Forward Looking Statement Information
    

    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, 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 www.sedar.com.





For further information:

For further information: For additional details on Great Basin and its
gold properties, please visit the Company's website at www.grtbasin.com or
contact Investor Services: Tsholo Serunye in South Africa, 27 (0) 11 301 1800;
Michael Curlook in North America, (604) 633-9113; Barbara Cano at Breakstone
Group in the USA, (646) 452-2334

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