March 17, 2009 (FinancialWire) -- Great Panther Resources Limited (TSX: GPR) reported revenues and earnings results for its fourth quarter and year ended December 31, 2008, highlighting increases in silver, minerals, and net earnings.

According to the company's statement, year-end highlights showed:

- 35% increase in total annual production to 1,809,720 silver equivalent ounces (Ag eq oz) from 1,336,629 Ag eq oz for the same period in 2007.

- 45% increase in mineral sales revenues to $22.4 million for the twelve months ended December 31, 2008 from $15.5 million for 2007.

- 214% increase in net earnings from mining operations (excluding amortization and depletion) to $4.3 million for the twelve months ended December 31, 2008 from $1.4 million for the same period in 2007.

For the quarter, the company showed:

- 43% increase in quarterly production resulting in a record 497,323 Ag eq oz in the fourth quarter 2008 compared to 346,729 Ag eq oz in the fourth quarter 2007.

- 17% increase in mineral sales revenue to $5.5 million for the three months ended December 31, 2008 from $4.7 million for the three months ended December 31, 2007.

- Net earnings from mining operations increased to $1.5 million in the fourth quarter 2008 from $0.1 million for the fourth quarter 2007.

- 47% decrease in cash cost per silver ounce, net of by-products, for the fourth quarter 2008 to $7.58 from $14.39 in the third quarter 2008 and an 8% decrease to $10.25 for the full year 2008 from $11.14 for the full year 2007.

Exploratory highlights included:

- Deep drilling at Cata Mine continued to delineate excellent grades of silver and gold and to extend the strike length of the recently discovered base metal rich zone at a depth of 600 metres.

- The new NI 43-101 mineral resource estimate for the Topia Mine comprises Measured & Indicated Mineral Resources of 153,373 tons at 501g/t silver, 0.95g/t gold, 5.38% lead and 4.85% zinc as well as 98,083 tons of 468g/t Ag, 0.97g/t Au, 3.59% Pb and 2.95% Zn in the Inferred category.

- At Topia, underground development along the Cantarranas, Gregorio and Rosario veins averaged high grades of silver, lead and zinc over 55 to 95 metre strike lengths.

- Molybdenum-rich skarn discovery at Mapimi Project in Durango expanded to more than 250 metres across and 200 metres thick.

The company's 2008 financial statements and management discussion & analysis will be available on the company's website at www.greatpanther.com and on SEDAR at www.sedar.com.

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