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


GREAT PANTHER RESOURCES LIMITED (TSX:GPR) (the "Company") is pleased to announce
that it has today closed an equity offering for gross proceeds of
CDN$12,332,250. The offering was made in Canada by Short Form Prospectus and
elsewhere under available exemptions.


The offering consisted of 17,617,500 units at CDN$0.70 per unit. Each unit
comprised one common share and one-half of one transferable share purchase
warrant, each whole warrant exercisable to purchase one common share for a
period of 24 months from the closing date, at an exercise price of CDN$0.90. The
common shares issued under the terms of the Short Form Prospectus are free
trading from the closing date.


The Offering was marketed by a syndicate of agents led by Salman Partners Inc.
and Dundee Securities Corporation, and included Fraser Mackenzie Limited.
Agents' compensation consisted of cash commission of 6% of the proceeds and
non-transferable Agents' warrants equal to 6% of the units sold, net of sales
arranged by the Company. Each Agents' warrant is exercisable to purchase one
common share for a period of 24 months from the closing date at a price of
CDN$0.90 per common share.


"We are very pleased with the strong investor support for the Company as
evidenced by the over-subscription," said Kaare Foy, Executive Chairman.


"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 upgrades at both Topia and
Guanajuato, and for general working capital purposes," said Bob Archer,
President & CEO. "With approximately $15 million cash in the treasury, the
Company will also be in a stronger position to consider new acquisitions."


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 parameters 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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