Great Panther Announces $2,700,000 Financing

VANCOUVER, BRITISH COLUMBIA, Dec 10, 2008 (MARKET WIRE via COMTEX News Network) --

GREAT PANTHER RESOURCES LIMITED (TSX: GPR) announces a non-brokered private placement financing of up to Cdn$2,700,000 consisting of up to 13,500,000 units at Cdn$0.20 per unit. Each unit comprises one common share and one-half non-transferable share purchase warrant.

Each full warrant entitles the holder to acquire, upon exercise, one additional common share at Cdn$0.35 for a period of one year.

Finder's fees may be paid on portions of the private placement. The private placement shares, any shares acquired upon exercise of the warrants and any securities issued in payment of finder's fees will be subject to a four-month hold period.

The financing proceeds will be used primarily for additional working capital at the Company's 100% owned Guanajuato and Topia Mines in Mexico, and for general working capital purposes. The placement is subject to Toronto Stock Exchange approval.

ON BEHALF OF THE BOARD

Robert A. Archer, President & CEO