GPR Great Panther Mining Ltd

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


GREAT PANTHER RESOURCES LIMITED (TSX:GPR) (the "Company") announced today that
it has filed a preliminary short form prospectus in Canada in connection with an
agency offering of units ("Units") to raise up to Cdn$10 million (the
"Offering").


Each Unit will consist of one common share and one-half of one common share
purchase warrant, each whole warrant exercisable to purchase one common share
for a term of two years from the closing date. The offering price will be
determined before the filing of the final short form prospectus.


The Offering will be conducted through a syndicate of agents led by Salman
Partners Inc. and Dundee Securities Corporation and including Fraser Mackenzie
Limited (together "the Agents").


The Company has agreed to grant the Agents an over-allotment option to purchase
up to that number of additional Units of Great Panther equal to 15% of the Units
sold pursuant to the Offering, exercisable at any time, in whole or in part, up
to 30 days from the closing of the Offering (the "Over-Allotment Option"). If
the Over-Allotment Option is exercised in full, the total gross proceeds to
Great Panther will be approximately Cdn$11,500,000.


The Company intends to use the net proceeds of the Offering to accelerate
exploration drilling, mine development, the acquisition of new underground
equipment, mine infrastructure refurbishment including power distribution at
Guanajuato and plant equipment replacement and upgrades at both Topia and
Guanajuato, and for general working capital purposes.


The Agents will be paid a cash commission of 6% of the gross proceeds from the
Offering including proceeds realized from the exercise by the Agents of the
Over-Allotment Option, if any. The Agents will also be granted broker warrants
equal in number to 6% of the number of Units sold pursuant to the Offering. Each
broker warrant will be exercisable to purchase one common share of the Company
for a period of two years following the closing date. The common shares will be
offered publicly in the provinces of Canada other than Quebec, in Europe and on
a private placement basis in the United States pursuant to exemptions from the
registration requirements of the U.S. Securities Act of 1933, as amended, and
internationally, pursuant to available exemptions.


Closing of this offering is expected to occur on or about November 17, 2009 and
is subject to receipt of all necessary regulatory approvals, including the
approval of the Toronto Stock Exchange.


This news release is not an offer of securities for sale in the United States.
The securities described above have not been and will not be registered under
the U.S. Securities Act of 1933, and may not be offered or sold in the United
States absent registration under the U.S. Securities Act of 1933, or an
applicable exemption from the registration requirements thereof.


Great Panther's strategy is to be a growing and profitable silver mining company
by increasing its low cost silver production and silver resources. The Company
has two 100% owned operating mines in Mexico.


ON BEHALF OF THE BOARD

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of the Securities Act (Ontario)
(together, "forward-looking statements"). Such forward-looking statements may
include but are not limited to the Company's plans for production at its
Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico,
the overall economic potential of its properties, the availability of adequate
financing and involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements expressed or
implied by such forward-looking statements to be materially different. Such
factors include, among others, risks and uncertainties relating to potential
political risks involving the Company's operations in a foreign jurisdiction,
uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, physical risks inherent in mining operations, currency
fluctuations, fluctuations in the price of silver, gold and base metals,
completion of economic evaluations, changes in project parametres as plans
continue to be refined, the inability or failure to obtain adequate financing on
a timely basis, and other risks and uncertainties, including those described in
the Company's Annual Report on Form 20-F for the year ended December 31, 2008
and reports on Form 6-K filed with the Securities and Exchange Commission and
available at www.sec.gov and Material Change Reports filed with the Canadian
Securities Administrators and available at www.sedar.com.


SEC 20-F Statement Filed; Standard & Poor's Listed

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