Further Re:Results of Placing

RNS Number : 9474C

Golden Prospect Precious Metals Ltd

24 November 2009

Golden Prospect Precious Metals Limited ("GPPM" or the "Company")

SETSqx Trading Platform

Notification of Director's Interest

Cancellation of Warrants

SETSqx Trading Platform

GPPM announces by way of correction, that on 29 September 2009, the trading facility in its ordinary shares was transferred from the International Bulletin Board of the London Stock Exchange (the "ITBB") to the SETSqx (the Stock Exchange Electronic Trading Service - quotes and crosses) trading platform. All of the Company's 37,950,000 issued ordinary shares (including the 6,099,000 ordinary shares issued pursuant to the Placing, announced on 18 November 2009) are therefore now admitted to the SETSqx trading platform, rather than the ITBB.

All shareholders who participated in the Placing have been advised of the correction.

Such transfer does not affect the listing of all the Company's issued ordinary shares on the Channel Islands Stock Exchange ("CISX"), which has continued unaffected.

Notification of Director's Interest

In accordance with Channel Islands Stock Exchange Listing Rule 7.9.24, the Company also announces that as part of the recent Placing of new ordinary shares which was announced on 18 November 2009 and which completed on 20 November 2009, Mr Malcolm Burne, a director of the Company, has acquired 100,000 ordinary shares in the Company at the placing price of 60p per share. Following this purchase, Mr Burne holds a total of 212,500 ordinary shares in the Company representing 0.5599% of the ordinary share in issue.

Warrants

Further to the notice sent by the Company to Warrantholders on 16 October 2009 reminding them of the imminent expiry of the period for exercise of the subscription rights under their Warrants, the Company announces that no Warrants were exercised on or before the final subscription day of 16 November 2009. Consequently, all the Company's outstanding Warrants have lapsed and application has therefore been made for the Warrants to be delisted from the CISX and also for trading in the Warrants to cease on SETSqx.