Great Panther Reprices Out-Of-The-Money Warrants And Options

GREAT PANTHER RESOURCES LIMITED (TSX: GPR; the “Company”), subject to Toronto Stock Exchange approval, is amending the terms of 3,621,999 outstanding share purchase warrants (“WK Warrants”) and 479,375 Broker Warrants by reducing the exercise price to $1.42. There is no change in the expiry date, which remains June 1, 2008. The amendment will become effective on April 23, 2008. Upon the amendment becoming effective, the current certificates representing the WK Warrants and the Broker Warrants will be deemed to have been amended to provide that the exercise price is $1.42.

On June 1, 2006, the Company issued 7,500,000 common shares, 3,749,998 WK Warrants and 479,375 Broker Warrants in connection with a $15,000,000 bought deal private placement underwritten by Jennings Capital Inc. The WK Warrants are currently exercisable at $2.65 until June 1, 2008. The Broker Warrants are currently exercisable at $2.00 until the same date. No WK Warrants are held by insiders of the Company. 127,999 WK Warrants were exercised on December 6, 2006 by three institutional investors.

Subject to Toronto Stock Exchange and shareholder approval, the Company is also amending the exercise price of 2,070,000 outstanding incentive stock options currently exercisable at $2.65 and 925,000 outstanding incentive stock options currently exercisable at $2.00. The exercise price of these options is being reduced to $1.42 to enable the Company to retain and secure key personnel in the current competitive job market. The reduction in the exercise price will also become effective on April 23, 2008, provided, however, that no exercise of such options may occur until shareholder approval is obtained. Shareholder approval will be sought at the Company’s annual general meeting in June 2008. Votes attaching to shares held directly or indirectly by insiders and other persons benefiting from this amendment will be excluded.

For further information please contact Brad Aelicks or Don Mosher at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman