GBS Gold Appoints Peter Breese as President & CEO

Wed Mar 26, 2008 2:39pm EDT

* Reuters is not responsible for the content in this press release.

  TORONTO, ONTARIO, Mar 26 (MARKET WIRE) -- 
 GBS Gold International Inc. (TSX: GBS) ("GBS Gold" or the "Company")
announces the appointment of Mr. Peter Breese as President and Chief
Executive Officer of the Company, effective August 1, 2008. GBS Gold's
current Chairman and Chief Executive Officer, Mr. Gil Playford, will
continue until August 1, at which point he will remain Chairman of the
Board.

    Mr. Breese currently serves as Chief Executive of Norilsk Nickel's
international nickel business, a position to which he was appointed
following the acquisition of LionOre Mining International Ltd in July
2007, where he was Chief Operating Officer. Prior to joining LionOre, Mr.
Breese held executive and director positions with Impala Platinum
Holdings Limited, Mimosa Mining Company and ZIMASCO Ltd. Mr. Breese is a
graduate of the Harvard Business School in the Program of Management
Development. He is 47 years old and has over 22 years of mining industry
experience.

    Commenting on Mr. Breese's appointment, Mr. Playford said, "We are very
pleased that Peter has decided to join GBS Gold, where he will lead the
transformation of the Company from a junior Australian gold producer into
an international intermediate gold company. At LionOre, Peter was
instrumental in turning around the business, resulting in outstanding
operating performance that ultimately led to a successful sale to Norilsk
Nickel."

    Mr. Breese stated, "GBS Gold has an excellent group of projects,
extensive exploration tenements, and a large and increasing mineral
resource base, all serving as a strong platform for growth. I believe
that GBS Gold has enormous potential to greatly increase its production
and expand its reach to other mining assets in Australia and elsewhere in
the world."

    The GBS Gold senior management team, comprising Tony Simpson, Chief
Operating Officer, Peter Kerr, Chief Financial Officer, and Ted Mayers,
Executive Vice President, Business Development (and former Chief
Financial Officer of LionOre), will report directly to Mr. Breese.

    About GBS Gold International Inc.

    GBS Gold is an emerging gold producer at its Union Reefs Operations
Centre located in historically productive goldfields in the Northern
Territory of Australia. GBS Gold produces gold through its modern
dual-mill 2.5Mtpa Union Reefs processing plant. The Company expects to
commence production at its Tom's Gully and Cosmo Deeps free-milling
projects in 2008-10 to increase production to an annualized rate of up to
250,000 ounces and to construct a GEOCOAT(R) circuit, a heaped
bio-oxidation process, at the Union Reefs plant to treat refractory ores
and further increase gold production from the Union Reefs Operations
Centre to 300,000 ounces per year. The Union Reefs plant is adjacent to
the main Stuart Highway and the trans-continental Adelaide-Darwin railway
line, and is on the Northern Territory power grid. Within 125km trucking
distance of the Union Reefs plant, GBS Gold has consolidated over
3,500km2 of prospective tenements and gold deposits and also holds gold
exploration properties in Western Australia and Canada. GBS Gold trades
on the Toronto Stock Exchange under the symbol "GBS".

    For more information about GBS Gold, please visit our website at
www.gbsgold.com or email us at gbs@gbsgold.ca.

    Certain disclosures in this release, including management's assessment of
GBS Gold's plans and projects, constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating
to GBS Gold's operation as a mineral development company that may cause
future results to differ materially from those expressed or implied in
such forward-looking statements. The following are important factors that
could cause the Company's actual results to differ materially from those
expressed or implied by such forward looking statements: fluctuations in
gold prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade of
mineral deposits; uncertainty of estimates of capital and operating
costs, recovery rates, production estimates and estimated economic
return; general market conditions; the uncertainty of future
profitability; and the uncertainty of access to additional capital. Full
descriptions of these risks can be found in the Company's Annual
Information Form available on the SEDAR website, www.sedar.com. Readers
are cautioned not to place undue reliance on forward-looking statements.
GBS Gold expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise.


 
 TSX does not accept responsibility for
the adequacy or accuracy of the information contained herein.

Contacts:
In Toronto, Canada:
GBS Gold International Inc.
Marie Inkster, Vice President, Finance
(416) 777-1508

In Perth, Australia:
GBS Gold International Inc.
Peter Kerr, Chief Financial Officer
+61 (0)8 9492 2500
Email: gbs@gbsgold.ca
Website: www.gbsgold.com

Copyright 2008, Market Wire, All rights reserved.

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