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Underground Drilling Extends High Grade Silver-Gold-Lead-Zinc At Topia Mine

March 01, 2007
GREAT PANTHER RESOURCES LIMITED (TSX: GPR) is pleased to announce that underground drilling in the deeper portions of the La Dura vein at the Company's 100% owned Topia Silver-Lead-Zinc Mine in Durango, Mexico is continuing to demonstrate high grades of silver, gold, lead and zinc, up to 55.7 oz/t Silver Equivalent* (Ag Eq). In particular, gold grades up to 7.21g/t in the drilling are significantly higher than the historical average (less than 1.0g/t) for the Topia Mine.

Eleven principal mineralized vein structures have been defined on the Topia Mine property, of which development and exploitation is presently taking place on five, including La Dura. Surface and underground drilling over the course of 2007 will target nine of the eleven veins in an effort to expand the Topia Mine mineral resource, and the number of veins being developed and exploited. The recent nine-hole, 637.3 metre underground drilling program at La Dura is part of the plan to test a 165 metre vertical interval (between the 1420 and 1585 levels) along a 600 metre strike length. These holes represent a 200m horizontal by 50m vertical portion of that block. To date, there has been no exploitation below the 1625 level in this part of the La Dura Mine. (Note: Mine levels are named according to their elevation above mean sea level and the town of Topia sits at an elevation of 1650 metres, such that most mine levels are accessed via adits from the sides of the mountains).

Underground drill holes UT06-001 to 005 tested the La Dura vein and a series of splays and parallel veins within a zone complicated by cross faulting. One such vein in the hanging wall, called La Dura Alto, is the most consistent of these in terms of grade and continuity. Significant results from the first five holes include 0.6m @ 5.96g/t gold, 191g/t silver, 4.35% lead and 4.85% zinc (29.9 oz/t Ag Eq) in UT06-001; and 1.3m @ 3.03g/t gold, 194g/t silver, 3.51% lead and 11.4% zinc (41.0 oz/t Ag Eq) in UT06-004, both on the main La Dura vein.

Holes UT06-006 to 008 successfully located the La Dura vein, with continuing high grades, east of a major fault and 85 metres below previous workings (see http://greatpanther2012.q4web.com/i/pdf/Rampa.pdf on the Company's web-site for drill hole location map). Significant results from these holes include 0.55m @ 2.88g/t gold, 609g/t silver, 5.84% lead and 11.1% zinc (55.7 oz/t Ag Eq) in UT06-006; and 1.05m @ 1.24g/t gold, 539g/t silver, 10.1% lead and 4.21% zinc (39.0 oz/t Ag Eq) in UT06-008 (farthest east). Drill hole UT06-009 was used as an engineering hole and as such was not oriented to intersecting veins.

Highlights of La Dura Underground Drilling:

Drill Hole

From

To

Width

True width

Vein

Au

Ag

Pb

Zn

Ag Eq

 

(m)

(m)

(m)

(m)

 

g/t

g/t

%

%

oz/t

 

 

 

 

 

 

 

 

 

 

 

UT06-001

0.00

0.60

0.60

0.50

La Dura

5.96

191

4.35

4.85

29.9

 

 

 

 

 

 

 

 

 

 

 

UT06-002

3.25

3.45

0.20

0.20

La Dura

5.53

422

4.25

4.30

35.3

 

28.50

28.85

0.35

0.35

La Dura alto

0.77

396

10.10

0.80

25.7

 

 

 

 

 

 

 

 

 

 

 

UT06-003

36.60

37.00

0.40

0.30

La Dura alto

0.80

216

3.35

10.10

35.5

 

 

 

 

 

 

 

 

 

 

 

UT06-004

5.60

6.90

1.30

0.90

La Dura

3.03

194

3.51

11.40

41.0

 

 

 

 

 

 

 

 

 

 

 

UT06-005

3.00

3.50

0.50

0.50

La Dura

3.27

162

0.60

1.83

14.5

 

26.60

26.70

0.10

0.10

La Dura alto

7.21

195

7.02

2.33

28.2

 

 

 

 

 

 

 

 

 

 

 

UT06-006

31.45

32.00

0.55

0.45

La Dura

2.88

609

5.84

11.10

55.7

 

 

 

 

 

 

 

 

 

 

 

UT06-007

23.00

23.65

0.65

0.65

La Dura

2.97

201

6.71

8.83

38.1

 

 

 

 

 

 

 

 

 

 

 

UT06-008

104.55

105.60

1.05

0.50

La Dura

1.24

539

10.10

4.21

39.0

*Note: Silver Equivalents (Ag Eq) were calculated using prices of US$575/oz for Au, US$12.00/oz for Ag, US$0.60/lb for Pb and US$1.50/lb for Zn; and recoveries of 85%, 87%, 90% and 87%, respectively.

As previously reported, the Company is continuing to use a resuing method of mining in this part of the district due to the narrow vein widths. Resue mining significantly reduces dilution, such that the grades reported from drilling and sampling are very close to head grades reported at the plant. A renewed campaign of surface drilling has also commenced at Topia and is initially testing the Animas vein, approximately 200 metres southeast into the hangingwall of La Dura. Results will be released when data is compiled for specific areas.

Both the surface and underground drilling have been contracted to BDW Drilling of Guadalajara, Mexico. Analysis of the aforementioned drill core was performed by SGS Minerals Services, ISO 9001 Registered, in their Durango, Mexico facilities.

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