GBM RESOURCES LIMITED. — Capital/Financing Update 2009

Dec 15, 2009

1 6 December 2009

The Manager s.. Company Announcements Australian Securities Exchange Level 5, 20 Bridge Street Sydney NSW 2000

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ABN 91 124 752 745 www.gbmr.com.au

Dear Sirs,

GBM and Pan Pacific Copper JV

Following GBM’s earlier announcement today that GBM Resources and Pan Pacific Copper Co., Limited has signed an initial non-binding agreement in which Pan Pacific will earn a 51% interest in certain exploration permits and applications in GBM’s extensive portfolio of tenements in the Mount Isa region.

The Mount Isa projects in which Pan Pacific can earn a 51% interest are :

1. Talawanta

2. Grassy Bore

3. Mt Margaret

4. Proterozoic basement in Bungalien, Horse Creek and Malbon2 ; and

5. The Chumvale Breccia prospect.

For clarity Pan Pacific cannot earn an interest in the Brightlands project other then the Chumvale Breccia prospect which represents less than 3% of the total Brightlands project area. The proposed JV areas are outlined below.

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Yours Sincerely,

Peter Thompson Managing Director

Registered Office: Level 1, 335 Churchill Ave Exploration Office: 10 Parker Street, Subiaco WA 6008 P O Box 658 PO Box 608 Castlemaine VIC 3450 Subiaco WA 6904 T 08 9388 6899 Tel / Fax 03 5470 5033 F 08 9388 6977