GREATER PACIFIC GOLD LIMITEDABN 12 009 076 24223 August...

GREATER PACIFIC GOLD LIMITED
ABN 12 009 076 242
23 August 2006
Companies Announcement Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Yellow Rock Resources Limited
Greater Pacific Gold Ltd (“GPN”) advises that Yellow Rock Resources Limited (“YRR”) has today resolved to close its prospectus under-subscribed due to certain monies not being released as cleared funds to satisfy the minimum subscription conditions and a requirement to seek various extensions from the Australian Securities & Investments Commission. YRR will now not be seeking application for admission to the official list of ASX. YRR will be immediately refunding all application monies.
As a result GPN will not be proceeding with the proposed in-specie distribution or YRR Shares and YRR Options to eligible GPN shareholders. GPN will now retain its interest in the Gabanintha Project and Money Shoal Project in its own right. GPN also holds an interest in the Peak Hill goldfield region through its 100% owned subsidiary, Desert Resources Ltd.
Denis McInerney
Chairman
68 Aberdeen Street, Northbridge, WA 6003
Telephone: (08) 9228 3008 Facsimile: (08) 9228 3006