**Hot Stock Pflichtinvest. GREAT WEST GOLD INC. **

The Company has today placed a further amount of restricted shares of its Common Stock for cash for an additional amount of US$200,000, to the same Investment Group. This Investment Group retains the option until November 30, 2005 to acquire a further amount of the Company's restricted shares of Common Stock, up to an additional amount of US$800,000. They have now to date, exercised their right to an amount of US$400,000 in restricted shares of the Company's Common Stock. The Company will not be filing a Registration Statement for these share issues and the Investment Group will hold these shares as restricted under Regulation 144. This funding allows the Company to continue to expedite the consummation of its acquisitions and complete the shareholder dividends as previously announced.

UNSECURED LOAN NOTE:

St James Capital Holdings, Inc., which holds a Loan Note from the Company in the amount of US$1,750,000 is assisting in these transactions and has agreed not to demand a conversion of this Loan into restricted shares of the Company's Common Stock at this time. Stephen Lumb, the President of St James Capital Holdings, Inc. (" St James" ) stated that St James was committed to the success of the corporate restructuring of Great West Gold, Inc. and that he was delighted that St James was in line for a huge " windfall" with all of the stock dividends being declared by Great West Gold, Inc., given St James's indirect and substantial shareholding in Great West Gold, Inc. As a further commitment to Great West Gold, Inc., Stephen Lumb pledged that this loan from St James would remain interest free, unsecured and with no fixed terms of repayment.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

About Great West Gold, Inc.

Great West Gold, Inc. (www.greatwestgold.com) is a gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in Arizona. Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.

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Great West Gold, Inc. -- 25% Stock Dividend Declared
Monday December 19, 7:44 am ET


Company to Pay Its Shareholders a 25% Stock Dividend


NEW YORK, NY--(MARKET WIRE)--Dec 19, 2005 -- Great West Gold, Inc. (OTC BB:GWGO.OB - News) confirms that the Company has authorized a 25% (twenty five percent) Stock Dividend of the Company's common stock for its shareholders of record as of January 6, 2006.
The Company has taken this step to reward its shareholders who continue to see a share price of US$0.0007 compared to a Total Stock Dividend payout in the amount of US$0.018 for every 1,000 shares of Great West Gold, Inc. Common Stock and that excludes the value of the Company's 71.43% shareholding in Western Diversified Mining Resources, Inc.

Full details are available on the Company's website, www.greatwestgold.com.

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This 25% Stock Dividend will be credited to Great West Gold, Inc. shareholders stock broking accounts or if shareholders are holding physical Share Certificates, the Transfer Agent will courier the Share Certificate representing this 25% Stock Dividend to each shareholder.

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.

These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.