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Monday, September 13, 2010

Great Basin (AMEX:GBG) Implements IT Network for Sarbanes-Oxley Compliance

Great Basin Gold (AMEX:GBG) has implemented a new IT network from Cisco (Nasdaq:CSCO) to aid them in meeting standards set by Sarbanes-Oxley.

Installing and fine-tuning the system to customize it for Great Basin Gold was Datacentrix, which provided the equipment and provided the initial network design.

Great Basin Sandton network administrator, Arnold de Bruin, said, "The network design phase took two weeks and the required Cisco networking equipment was imported from the distribution centre in Belgium. We are audited twice a year for Sarbanes-Oxley compliance and it is a complex process that needs to take place in a streamlined but highly secure environment.

"The end result is a solution that provides a full audit trail of the business in the form of logs that can be extracted from the Cisco system. It is impossible to alter or manipulate the transaction logs, offering GBG solid protection and ensuring compliance," added de Bruin.

With Great Basin about to have its second mining project commissioned later this year, the Burnstone gold mine, investors have been taking a close look with increased interest, as historically this has been a profitable time to buy miners, when they start production for the first time with a mine.

Estimated annual production is 250,000 ounces of gold, with a mine life of 19 years projected. GBG also has a major gold mine in Nevada named Hollister.

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