Greatland Gold plc (AIM: GGP), the precious and base metals mineral exploration and development company, announces its unaudited results for the six months ended 31 December 2020.

Operational highlights

The Company made significant progress in the first six months of the financial year, consolidating its reputation as one of the most successful operators in the Paterson region of north-western Australia as it delivered the initial Mineral Resource estimate at its Havieron project.

Havieron delivers initial Mineral Resource estimate and accelerates development

Initial Inferred Mineral Resource estimate of 52Mt @ 2.0g/t Au, 0.31% Cu or 2.5g/t AuEq for 3.4Moz Au, 160Kt Cu or 4.2Moz AuEq1, with mineralisation open outside of the resource shell and potential to grow the resource over time

Commenced preparation for the construction of the box cut and decline with A$146 million (US$112 million) in funding approved by Newcrest Mining Limited ('Newcrest') Board

Four successive sets of excellent, high-grade results from Newcrest drilling between July 2020 and January 2021 resulted in: Expanded footprint of mineralisation: additional zones of mineralisation identified to the east, north and north-west

Best intercept to date: infill drilling returns further high-grade results, including the best intercept to date, 120.7m @ 9.3g/t Au and 0.18% Cu from 1349.3m (HAD065W2)

Newcrest commencing 65,000 metre growth drilling campaign; Stage 3 of Farm-in Agreement completed and up to nine drill rigs operational

Juri JV - Second joint venture signed with Newcrest in the Paterson region

Entered into a farm-in and joint venture agreement with Newcrest to accelerate exploration at Greatland's Black Hills and Paterson Range East licences

Two-stage farm-in over five years, including a A$3 million minimum commitment for Stage 1

Newcrest has right to earn up to a 75% interest in licences by spending up to A$20 million

Advancing strategy to discover potential Tier-1 gold-copper deposits in the Paterson

Multiple new targets identified at Scallywag and first three drill holes intersect prospective target lithologies and pathfinder element anomalism

Expanding exploration footprint in the Paterson with Rudall licence application and new Canning licence application (post-period)

The gold equivalent (AuEq) is based on assumed prices of US$1,400/oz Au and US$3.40/lb Cu, gold recoveries of 94% (Crescent) and 84% (Breccia), and copper recoveries of 84% (Crescent) and 82% (Breccia), which equates to a formula of approximately AuEq = Au (g/t) + 1.65 Cu (%). In Greatland's opinion both gold and copper have a reasonable potential to be recovered and sold.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: 'We are very pleased with developments in the first six months as we worked with our partners to reach key milestones at Havieron - delivering the initial Inferred Mineral Resource estimate and securing US$50 million of development funding via a Loan Agreement with Newcrest.

'At Havieron, additional mineralised zones were identified and further drilling returned the best intercept recorded to date. This gives us great excitement for the significant, 65,000m growth drilling programme now underway. It is an affirmation of the quality of our projects and our team that Newcrest agreed to a second joint venture with us, the Juri JV, in the Paterson region.

'Looking ahead, Greatland has three elements it is actively progressing in the Paterson region and these will be the focus as we enter the 2021 exploration season. Alongside the potential for rapid development at Havieron, Newcrest and Greatland are preparing for the imminent launch of the exploration programme at the Juri JV which will initially focus on drilling several high-priority targets. Additionally, we will be ramping up exploration activities across our multiple 100% owned targets in the Paterson.

'Greatland is well capitalised and in a strong operational position to execute our strategy as we assess new opportunities to build a multi-asset company of significant scale.'

Contact:

Shaun Day

Tel: +44 (0)20 3709 4900

Email: info@greatlandgold.com

Web: www.greatlandgold.com

Notes for Editors

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals.

The Company's flagship asset is the world class Havieron gold-copper deposit in the Paterson region of Western Australia. This asset is held in joint venture with Newcrest Mining Ltd. Havieron is located approximately 45km's east of Newcrest's Telfer gold mine, processing plant and existing infrastructure.

The box cut and decline to develop the Havieron ore body was commenced in February 2021. In addition, there is a substantial ongoing growth drilling program presently underway at Havieron which is being undertaken in conjunction with preparation of a Pre-Feasibility Study. Newcrest is managing the preparation of the PFS, which is expected to be released in late calendar 2021.

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer, located 45km west of Havieron.

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

The Company is also actively investigating a range of new opportunities in Australia for precious and strategic metals and will update the market on new opportunities as and when appropriate.

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