Further re: Decision to withdraw from ENOR Spa

GMA Resources plc

("GMA" or the "Company")

 Further re: Decision to withdraw from ENOR Spa

Further to the announcement dated 19 October 2011 in which the Company stated that it had advised Sonatrach, its joint venture partner in ENOR Spa ("ENOR"), that it had decided to withdraw from its participation as a shareholder of ENOR, the operator of the Amesmessa Gold Mine within the Tirek Amesmessa Concession in Algeria, the Company notes the recent press comment and confirms that it is in discussions regarding the sale of its holding in ENOR to Sonatrach for a nominal consideration, the terms of which are yet to be finalised.

As set out in the 19 October announcement, as ENOR is GMA's only trading asset, the withdrawal will result in a write-off of the investment. In addition, the sale of GMA's holding in ENOR would result in a fundamental change of business in accordance with AIM Rule 15. As and when the terms of the sale are agreed a further announcement will be made.

Enquiries:

Notes to Editors:

GMA owns a controlling 52% stake in ENOR spa ("ENOR"), the Algerian based operating company for the Tirek-Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.

ENOR holds the exploitation authorisation to the Tirek-Amesmessa property, an area of some 1,417 km2, located approximately 450km south west of the city, Tamanrasset, in southern Algeria. Amesmessa is an open pit heap leach gold mine located in the extreme south of the permit area. The now closed Tirek mine site is located centrally in the northern third of the exploration permit area, some 60 km north of Amesmessa.

GMA's shares are traded on the AIM market of the London Stock Exchange (AIM: GMA).

For further information on the Company, please visit: www.gmaresources.co.uk