Great Basin Gold Ltd. (GBG), is engaged in the business of acquiring ownership of or interests in, exploring and developing precious metals deposits. As of December 31, 2008, the Company has two material projects, both of which are at the test-mining stage, namely the Hollister gold project, acquired in 1997, which is located on the Carlin Trend goldfield in Nevada, United States of America (the Hollister Property) and the Burnstone gold project, acquired in 2002, which is located in the Witwatersrand Basin goldfields in South Africa (the Burnstone Property). The Company also holds interests in early stage mineral prospects known as the Ganes Creek Property in Alaska, and through Rusaf, the Tsetsera Property in Mozambique, properties in Tanzania and Iturup (Kurils) Islands (Russian Federation). The Company acquired Rusaf Gold Ltd. in April 2008. The Company also purchased the Esmeralda Property on December 16, 2008, from Metallic Ventures (U.S.), Inc.