GGD Resources Inc.: Press Release

TORONTO, ONTARIO, Mar 31 (MARKET WIRE) --
GGD RESOURCES INC. ("GGD" or the "Corporation") is pleased to announce
the results of certain steps taken to reorganize its share capital. GGD
is an inactive reporting issuer seeking a new business in the resource
sector with an objective to maximize shareholder value. The shares of GGD
do not trade on any stock exchange or generally recognized trading system.

Share Consolidation and Split

GGD is pleased to announce the completion of its proposed share
reorganization plan (the "Share Reorganization Plan") as approved by
shareholders on December 19, 2007 consisting of a consolidation of 100:1
which became effective on December 19, 2007 followed by a split of the
common shares on a 1:100 basis which became effective on December 20,
2007.

The Corporation has a large number of shareholders holding small numbers
of Common Shares. The Corporation believes that most of these small
shareholders welcome the opportunity to sell their Common Shares.
Accordingly, the Corporation has undertaken the steps outlined below in
order to purchase these small holdings and benefit from the resulting
cost savings:

(a) effective December 19, 2007 (the "Consolidation Date") the Common
Shares of the Corporation were consolidated on the basis of one (1)
post-consolidation share for each one hundred (100) pre-consolidation
shares (the "Consolidation"). There was no rounding up of Common Shares
on the consolidation;

(b) as a result of the Consolidation, any holder of less than one (1)
post-consolidation Common Share has ceased to hold Common Shares and is
entitled to be paid cash consideration equal to that number of
pre-consolidation Common Shares held by the holder multiplied by $0.093.
The Common Shares are not listed on a stock exchange or any generally
recognized quotation system. The per share price of $0.093 is based on
the arm's length price per share of $0.0137 paid in a change of control
transaction announced on May 18, 2006 and adjusted for the 6.8:1 Common
Share consolidation which became effective on July 4, 2007. The
Corporation is not aware of any arm's length sales of the Common Shares
since that time. The per share price of $0.093 is believed by the board
of directors to represent fair value for the Common Shares of the
Corporation which has no prospects or assets at the present time, and a
working capital deficit of $70,500 (unaudited) as at December 31, 2007.
Holders will receive their payment by presenting and surrendering to the
Corporation for cancellation the certificate or certificates representing
the issued and outstanding Common Shares; and

(c) effective December 20, 2007 the remaining Common Shares were split on
the basis of one hundred (100) post-split shares for each one (1)
post-consolidation share.

As a result of these steps a total of 2,623 Common Shares held by 56
shareholders who held less than 100 Common Shares have ceased to exist,
and the Corporation has recorded a liability of $244 in payment for these
shares at a price of $0.093 per share. The number of issued and
outstanding Common Shares has been reduced by 2,623 Common Shares such
that the Corporation would have 902,535 Common Shares issued and
outstanding rather than 905,158 Common Shares issued and outstanding as
previously reported by the Corporation, all subject to the increase in
issued and outstanding shares as noted below. Holders of 100 or more
Common Shares of the Corporation at the Consolidation Date continue to
hold the same number of Common Shares currently held as a result of these
transactions following the stock split.

Increase in Issued & Outstanding Shares

The Corporation has been advised by its transfer agent that a predecessor
transfer agent did not include in the Corporation's outstanding share
capital certain shares which were not exchanged for consolidated shares
pursuant to an historical share consolidation. GGD has subsisted under
three separate names since incorporation, and upon each name change,
there was an associated consolidation which may be summarized as follows:

-------------------------------------------------------------
Grandad Resources Limited
("GRL")
-------------------------------------------------------------

2:1 share consolidation

-------------------------------------------------------------
Great Grandad Resources Limited
("GGRL")
-------------------------------------------------------------

6.8:1 share consolidation

-------------------------------------------------------------
GGD Resources Inc.
("GGD")
-------------------------------------------------------------

As a result of this historical error, there are an additional 630,030
Common Shares issued and outstanding in addition to the 902,535 Common
Shares issued and outstanding after adjustment for the
Consolidation/Split as noted above. The Corporation is satisfied that no
further shares will be issuable as a result of these circumstances.

Accordingly, as at December 31, 2007, the number of issued and
outstanding common shares of the Corporation has increased by 630,030
common shares from 902,535 common shares to 1,532,565 common shares.

About GGD

The management of GGD has commenced a process to identify new business
opportunities for GGD in the resource sector, with a view to maximizing
value for shareholders. As at the date of this press release, no new
business that fulfills the objectives of management has been identified.
The Corporation does not currently have an undertaking. Success in
identifying a suitable new business for the Corporation cannot be
assured, and there are no opportunities which have been identified at the
present time. Reference should be made to the risks detailed from time to
time in the filings made by GGD with securities regulators.

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking
statements". All statements other than statements of historical fact,
included in this release, including, without limitation, statements
regarding future plans and objectives of GGD, are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated
in such statements. Important factors that could cause actual results to
differ materially from GGD's expectations are the risks detailed herein
and from time to time in the filings made by GGD with securities
regulators.

stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.

Contacts:
GGD Resources Inc.
Dennis H. Peterson
President
(416) 777-6772
(416) 352-5693 (FAX)
Email: dhp@petelaw.com

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