21 February 2011 Company Announcements Office Australian Securities Exchange PLACEMENT The Board of Great Western Exploration Limited advises that it has completed a placement of 9,446,831 ordinary fully paid shares to sophisticated investors at an issue price of $0.30 each to raise $2,834,049. The funds raised will be applied towards the Company’s exploration activities, in particular RC & aircore drilling programmes, airborne & ground geophysical surveys and surface geochemical surveys over the next 12 months at the Company’s Doolgunna Project. Yours faithfully J A Luckett Managing Director.