Great Basin Gold Limited Insolvency Update

VANCOUVER, May 22, 2013 /CNW/ - Great Basin Gold Limited (the "Company") announces that further to its news release of April 29, 2013 the sale of its Nevada assets and operations including the Hollister trial mine and Esmeralda mill has completed substantially on the terms disclosed in that news release except that the term of the net profits royalty may be terminated after five years in certain events.

SOURCE: Great Basin Gold Ltd.

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For additional information about Great Basin Gold Limited, please visit the Company's website at www.grtbasin.com or contact info@grtbasin.com.

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Great Basin Gold Ltd.

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