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Current operating costs for the Argentina vein are$US100/tonne ore mined and processed, and any additional resources to themining plan would require no increase in G&A costs and reduced unitmining costs. When combined with the 2009 Argentina resource,the new total contained metal for each resource category is shown onTable 2.The 2009 mineral resource estimate has increased over that reported in2008 (see GPR news release August 11, 2008 and Tables 2 and 3 below)mainly due to:- a re-interpretation of the drill hole data,- new vein channel sampling data from exploration development on Level 2,- a correction of the survey of old underground workings to surfacetopography,- improved ore grades at Topia (522g/t silver; 0.58g/t gold; 3.26% leadand 4.20% zinc for the year to end of June),- updated and improved metallurgical recoveries, and- improved concentrate sales terms,These contributed to a greater understanding and confidence in theinterpretation of the Argentina vein.Table 1. At current productionlevels, management considers the new resource to be sufficient for atleast a 10 year mine life.The 2009 mineral resource estimate provides an update for the Argentinavein only, while the estimate delivered by Wardrop in 2006 for some ofthe other veins on the property came largely from the verification ofPenoles' resources, and are still intact, as mining to date has come fromnew mine development on these veins (Resources for the "other veins" wereestimated by Wardrop using metal prices as reported in the 2006 report).The breakdown for the Argentina Vein and Other Veins on the property isgiven in Table 1 below. The 2009 mineral resourceestimate comprises Measured & Indicated Mineral Resources of 173,103tonnes at 552g/t silver, 0.99g/t gold, 5.58% lead and 4.83% zinc(5,458,218 silver equivalent ounces) as well as 174,562 tonnes of 633g/tsilver, 1.03g/t gold, 5.10% lead and 3.84% zinc (5,692,957 silverequivalent ounces) in the Inferred category. VANCOUVER, BRITISH COLUMBIA, Jul 21 (MARKET WIRE) -- GREAT PANTHER RESOURCES LIMITED (TSX: GPR) is pleased to announce thatWardrop Engineering of Vancouver has delivered an update to the ongoingmineral resource development at the Company's 100% owned TopiaSilver-Gold-Lead-Zinc Mine in Durango, Mexico. First Mountain Bancorp is the parent holding company of First Mountain Bank,which is headquartered in Big Bear Lake and has four offices serving the BigBear and high desert areas of Southern California.

For further informationcontact Jack Briner, CEO, or Dennis Saunders, President/CFO, at (909) 866-5861. At June 30, 2009, the Company reported a book value per share of $10.76, on1,560,262 shares outstanding. Although we cannot guarantee thefinancial performance of the Bank for the remainder of 2009, we believe ouraggressive loan portfolio management and excellent capital levels properlyposition the Bank to deal with the challenges of the current economy," statedMr Briner. The Companycontinues to be "well capitalized," the highest designation under regulatoryguidelines, and its capital ratios significantly exceed the regulatoryrequirements. "While the level of non-performing assets is of some concern, most of theseloans are real estate secured with good underlying collateral values, despitethe general decline in the real estate market. Total consolidated equity capital was $16,786,626 at June 30, 2009, whichrepresented a total Tier 1 leverage capital ratio of 12.0%.

Until the economy shows signs of improving, we havecommitted to follow this conservative approach," stated Jack Briner, ChiefExecutive Officer. The Company reported total consolidated assets of $138,116,907 at June 30, 2009,compared to $144,073,931 at December 31, 2008; total outstanding loans of$113,301,132 at quarter end, compared to the year-end 2008 balance of$113,609,304; and total deposits of $120,524,982 and $126,439,886 at June 30,2009 and December 31, 2008, respectively. "While core earnings remain quite strong, we continue to follow a conservativeoperating model in response to the decline in our local economy by adding to theBank`s loan loss reserve. Subsequent to the end of the second quarter, the Company converted $1.1million of foreclosed property into a performing asset through sale of theproperty, which reduced non-performing assets by 25%, resulting in a revisednon-performing asset ratio of 2.37%.