GEL Graphano Energy Ltd

Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth Gold")
announced today it doubled its gold production from the placer (alluvial) mining
operations in the Manuherikia Valley in Central Otago.


Production from placer operations at Drybread (Hecklers and Morans) is now
achieving approximately 70-80 ounces of gold per week, doubling its output since
last update (reported August 29, 2012). This higher gold production has been
achieved in some lower grade areas and now, both gold recovery units are working
their way to higher grade ground where further production increases and
efficiencies are anticipated.


This production improvement builds off a modest base that averaged 10 oz/week of
gold from a single plant in March this year.


View weekly gold production graph at:

http://glassearthgold.com/i/newsreleases/2012/Images/GEGLPR_21Nov2012_Chart1.jpg 

View map of gold production at: 

http://glassearthgold.com/i/newsreleases/2012/Images/GEGLPR_21Nov2012_Map1.jpg

Simon Henderson, CEO of Glass Earth Gold said, "We are delighted with the steady
progress in our placer production and look forward to further efficiencies and
improvements as we mine higher grade material during New Zealand's summer months
ahead". 


Cash flow from current operations are covering General and Administrative
expenses and modestly adding to its exploration budget at the WKP prospect
(north of the Martha mine at Waihi, North Island). 


The recent announcement that Glass Earth Gold has acquired option rights to the
Neavesville gold/silver prospect (just north of WKP) will mean an increased
exploration focus in the Hauraki region. 


About Glass Earth Gold

Glass Earth Gold is one of New Zealand's most active 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 both the North and South Islands. The
Company held a net cash position of C$1.0 million at the end of Q2 2012.


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 Gold project. 


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. 


Qualified Person

Mr Simon Henderson, MSc Geology (CODES), an AusIMM Chartered Professional under
the Discipline of Geology; is a Qualified Person as defined by National
Instrument 43-101 and an employee of the Company, has reviewed and approved the
technical information given in this press release.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Glass Earth Gold Limited
Simon Henderson
President and Chief Executive Officer
+64 4 903 4980
info@glassearthgold.com
www.glassearthgold.com


CHF Investor Relations
Jeanny So
Director of Operations
+1 416 868 1079 x 225
jeanny@chfir.com

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