Plains Creek announces completion of share consolidation and name change

VANCOUVER, March 28, 2013 /CNW/ - Further to its news release of February 25, 2013, GB Minerals Ltd. (the "Company") is pleased to announce it has completed its previously announced name change and consolidation.

The Company's name which was previously "Plains Creek Phosphate Corporation" has been changed to "GB Minerals Ltd." and the trading of its common shares will continue on the TSX Venture Exchange under the new symbol "GBL". Additionally, all of the outstanding securities of the Company were consolidated on the basis of one new security for twenty existing securities.

The consolidation and name change were approved by the shareholders at an annual general and special meeting of shareholders held on March 25, 2013.

ON BEHALF OF THE BOARD

"Owen Ryan"    
Owen Ryan
Executive Chairman, Director, and
Interim President and Interim Chief Executive Officer

About GB Minerals Ltd.

GB Minerals Ltd. is a Canadian mining exploration and development company focused on advancing its Farim Phosphate Project in Guinea‐Bissau, West Africa through its subsidiary, GB Minerals AG.  On January 17, 2013, the Company filed on SEDAR its feasibility study dated effective December 19, 2012 for the Farim Phosphate Project as its single current technical report (the "Report") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The Company's shares are listed on the Exchange under the trading symbol "GBL".

Cautionary Statement

Statements in this release may be viewed as forward‐looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward‐statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

The reader should be cautioned that there are risks that could affect the potential development of the Farim Phosphate Project's (the "Project") mineral resources, which include: the political instability in Africa and Guinea‐Bissau in particular, which is where the Project is located; and that additional financing will be required to ultimately develop the Project and the ability to obtain such financing on favorable terms will be affected by prevailing market conditions. A more detailed discussion of such risks are outlined in the Company's Management's Discussion & Analysis and the Report, all of which are filed under the Company's profile on SEDAR at www.sedar.com.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: GB Minerals Ltd.

Owen Ryan
Executive Chairman, Director, and
Interim President and Chief Executive Officer
Telephone: (604) 569‐0721   E‐mail: [email protected]