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Great Panther Options San Antonio Property To Altair Ventures

December 08, 2006
GREAT PANTHER RESOURCES LIMITED (TSX: GPR) is pleased to announce that it has signed a letter of intent with Altair Ventures Inc. (TSX-V: AVX.P) whereby Altair will have the option to earn a 70% interest in Great Panther's San Antonio Property in Chihuahua, Mexico. Terms of the agreement call for Altair to make staged payments and share issuances to Great Panther totaling US$200,000 and 200,000 shares over 3 years. Altair must also spend a total of US$1,000,000 in exploration on the project over the same period. Great Panther will be the operator of the exploration program.

The 11,946 hectare San Antonio property lies in the Guadalupe y Calvo Mining District of southwest Chihuahua State, Mexico in the prolific Sierra Madre Belt. Great Panther's work to date on the property has outlined the presence of a gold-copper system more than 14 square kilometres in size. Multiple targets have been identified at San Antonio within a variety of geological settings, including gold-copper veins, gold-copper breccias and stockworks, and silver-lead-zinc veins.

As San Antonio is primarily a gold-copper project, it is considered a non-core asset for Great Panther and the Company has decided to focus its efforts and financial resources on its silver mines and development projects. As such, the Company is pleased to have Altair Ventures as a partner in advancing the project further. As Robert Archer, President & CEO of Great Panther is also non-executive Chairman of Altair and a shareholder of both companies, the agreement has been approved by Great Panther's independent directors.

Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther, is designated as the Qualified Person for the San Antonio Project under the meaning of NI 43-101, and has reviewed this news release.


"Kaare G. Foy"
Kaare G. Foy, Chairman & CFO

Reg Advocaat
Manager Corporate Development
Great Panther Resources Ltd.
Suite 2100 - 1177 West Hastings Street
Vancouver, BC. V6E 2K3
Ph: 604-608-1766
Fax: 604-608-1744


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