Issue of Equity

GMA Resources plc

("GMA" or the "Company")

Issue of Equity and Results of Class Meetings, EGM and AGM

On 30 June 2010, the Company announced that it had entered into subscription agreements with Sahara Gold Limited ("Sahara Gold"), a wholly owned subsidiary of ASCOM Precious Metals Mining S.A.E. ("APM") and Ken Crichton, the Company's Interim CEO and an employee of APM ("the Agreements"). Pursuant to the Agreements, Sahara Gold agreed to subscribe or procure that members of its group subscribe for up to 120,000,000 new ordinary shares of £0.01 each ("Ordinary Shares") at 1.25 pence per share and Ken Crichton agreed to subscribe for up to 8,000,000 Ordinary Shares at 1.25 pence per share (together the "Subscription Shares"). The Subscription Shares are to be issued in four tranches, the first of which comprises 40,400,000 Ordinary Shares, 38,400,000 of which are being subscribed for by Sahara Gold and the balance being subscribed by Ken Crichton.

The Company announces that at the class meetings of the holders of the Loan Stock 2010 and the Loan Stock 2011 (the "Class Meetings") and the Extraordinary General Meeting ("EGM") held earlier today the amendments to certain terms of the Loan Stock 2010 and Loan Stock 2011 were approved and at the EGM, held immediately following the Class Meetings, all resolutions were duly passed.

All resolutions proposed at the Annual General Meeting ("AGM"), also held earlier today, were duly passed. A presentation given to attendees of the AGM will be available on the Company's website, www.gmaresources.co.uk, shortly.

Application has been made to the London Stock Exchange for the first tranche of shares, totalling 40,400,000 Ordinary Shares, to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 27 July 2010.

Following Admission, the Company will have 509,402,894 Ordinary Shares in issue and accordingly, Sahara Gold will be interested in 83,036,624 Ordinary Shares representing 16.30 per cent. of the issued share capital of the Company and Ken Crichton will be interested in 2,000,000 Ordinary Shares representing 0.39 per cent. of the issued share capital of the Company.

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. Research to date suggests that the Zita Zone, which lies between Tirek and Amesmessa, offers considerable potential for the development of additional prospects amenable to open-pit mining. GMA plans to quickly expand upon resources outside of the major 80km Tirek-Amesmessa fault north/south of the concession.

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