GEL Graphano Energy Ltd

Glass Earth Gold Limited ("Glass Earth Gold" or "the Company") (TSX
VENTURE:GEL)(NZAX:GEL) announces that it proposes to extend by thirty three (33)
days the expiry date of the following share purchase warrants:




  -  Warrants to purchase up to 9,100,000 common shares at an exercise     
     price of $0.35 per share until May 5, 2012, issued in connection with 
     a non-brokered private placement completed in May, 2010 (the "May 2010
     Warrants").                                                           



If accepted by the TSX Venture Exchange (the "Exchange"), the Company will
extend the expiry date of the 9,100,000 share purchase warrants to June 7, 2012.



The extension is being undertaken to ensure that the expiry date of the May 2010
Warrants coincides with the expiry date of an additional 5,100,000 share
purchase warrants exercisable at $0.35 per share which expire on June 7, 2012
(the "June 2010 Warrants"). 


The May 2010 Warrants and June 2010 Warrants were issued in connection with the
same private placement conducted in 2010, which was completed in two separate
tranches, 33 days apart. 


The application to amend the warrants is subject to the Exchange's acceptance,
and the Company makes no assurances that the required acceptance for the
extension of the term of the warrants will be granted.


ON BEHALF OF THE BOARD OF DIRECTORS

About Glass Earth Gold

Glass Earth Gold is one of New Zealand's largest gold exploration companies with
landholdings proximal to world-class gold deposits and cash flow from its wholly
owned placer projects. With an experienced geological team, the Company is
exploring promising gold prospects across a land position of approximately
10,000 km2, in both the North and South Islands. The Company held a net cash
position of C$2.2 million at the end of Q1 2012 to fund exploration progress.


In the North Island, exploration efforts are focused on large epithermal gold
systems in the Hauraki Region, akin to the 10Moz gold equivalent Martha Hill
mine, (Newmont Mining).


In the Hauraki Region, Glass Earth Gold has identified and developed significant
ground positions around the active Martha Hill gold mine operations at Waihi.
The Newmont-Glass Earth Gold Waihi West JV (Newmont earning in) and Hauraki JV
(65/35), including drilling at the WKP discovery, are being actively explored
and managed by Newmont in collaboration with Glass Earth Gold. 


Glass Earth Gold has also defined several significant epithermal gold targets to
independently explore in this region, including the Muirs Reef project where
drilling is ongoing. A historical resource of 390,000 oz (non NI
43-101-compliant, at 1.5 g/t Au and cut-off grade of 0.5 g/t Au), as well as
recent drilling provided further encouragement with intersections of 2m of
38.4g/t gold and 49.2g/t silver.


In the South Island, exploration efforts are focused on the Otago Region, home
to OceanaGold's 7Moz Macraes Goldfield, for identification of mesothermal
"Macraes-style" gold targets and revenue generation through placer (alluvial)
gold production. 


For more information on Glass Earth Gold, please visit www.glassearthgold.com.

To receive Company news via email, contact lauren@chfir.com and mention "Glass
Earth news" in the subject line.

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