NEW YORK, Sept. 26, 2006 (PRIMEZONE) -- Great West Gold, Inc. (Pink Sheets:GWGO) announced on September 8, 2006 that the Company was conducting an intensive review of its business plan and its operations. This was in response to the consistently low stock price which values the Company at a massive discount to its underlying value. Management cannot and will no longer, continue to allow stockholder value to suffer due to the non performance of the Company's stock price.
Stockholders are advised that the Company will, in and during tomorrow, be announcing a very significant change to the Company's future plans and to its operations. These very aggressive corporate actions are being brought about due to the consistently low stock price, which, in the Company's opinion, is primarily due to Naked Short Selling. This appears to be a sentiment shared by hundreds of concerned stockholders who have advised the Company of such in their E Mail correspondence with the Company.
This Company will be ensuring that its stockholders are credited on the correct "Pay Date" and that only stockholders registered as at the "Record Date" will benefit from the Forward Split of the Company's Common Stock on September 5, 2006. This aggressive and determined decision was taken by the Company's Management, based upon previous experience whereby stockholder accounts were not correctly credited with their Stock Dividends and where Stock Dividends were credited far past the Pay Date, with no rational or logical explanation. This action, we hope, will serve to deter Naked Short Sellers from their illegal and prejudicial activities.
About Great West Gold, Inc.
Great West Gold, Inc., www.greatwestgold.com, a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company has Gold assets through its holdings in "Bouse", "Mockingbird", "Ambassador", "Yaba", "Golden Eagle" and "South Copperstone" and Copper assets through its holdings in "Copper Mountain". The Company holds five of these Mining Assets through its 48% holding in Bouse Mining Holdings plc, Copperstone Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc and in Sentinel Resource Holdings plc. The other three projects are 100% controlled by the Company.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.