Exploration Update

GREATLAND GOLD PLC
 
                         Exploration Update
 
9 July 2009
 
Greatland Gold plc ("Greatland" or the "Company"), the mineral
exploration and development company focused on gold projects in
Tasmania and Western Australia is pleased to provide an update on
exploration activities and sample results.
 
Results from surface sampling completed during May and June have been
received. Results from the Firetower  project have outlined a  strong
gold anomaly peaking  at 916ppb gold  over a strike  length of  450m.
This gold anomaly will be drill tested in August.
 
Firetower
 
The Company  completed mapping  and sampling  activities at  the  CRA
Anomaly 1 and Asarco  West areas, between April  and June. More  than
150 surface samples  were collected. Results  for these samples  have
been received.
 
At the CRA Anomaly 1 prospect, the latest sampling provided a nominal
sample density of 50m x 50m over the entire prospect. Results outline
a gold and  base metal anomalous  area of approximately  450m x  50m,
defined by a 5ppb gold contour,  peaking at 916ppb gold and  283.5ppb
gold. Surface  geochemical  data  has been  integrated  with  induced
polarisation, ground magnetic and mapping data which has  highlighted
the prospect as a promising drill target. The prospect will be tested
with a diamond drilling program scheduled to commence in August 2009.
 
Results from sampling  at the Asarco  West prospect returned  subdued
results with gold peaking at 1.5ppb.  No further work is planned  for
this area.
 
Warrentinna
 
The Company  completed mapping  and  sampling activities  over  three
areas, at its Warrentinna  project between April  and June. Over  300
samples were collected to follow  up gold anomalous drainage  samples
in the north and central parts of the project area. Results for these
samples have been received.
 
Subtle gold anomalies were  returned from two  of the areas  covered.
Results peaked at 23ppb  gold and 6.5ppb. Strike  length has not  yet
been defined as  the gold anomalies  at both areas  remain open.  The
third area sampled  did not  return significant results  with a  peak
result of 2.2ppb gold.
 
At the Derby North area, in the south of the project area, a  program
of reverse  circulation  drilling  is scheduled  to  commence  during
August. The drilling  programme will test  strike extensions to  gold
mineralisation  previously  discovered  by  Greatland.  Results  will
determine the viability of  an open pittable  gold resource at  Derby
North.
 
Corporate
 
We are pleased with a successful placing during May 2009. The Company
raised £301,000  before  expenses through  the  issue of  43m  shares
placing us in a strong cash position ahead of the drill programmes.
 
The board currently  envisage the drill  programme budgets  totalling
between £200,000 and £300,000 which will be expensed in the financial
year to end June  2010. We expect the  cost will be marginally  lower
than in previous years owing to more competitive conditions and  more
reasonable pricing for equipment and labour.
 
The gold price  has remained above  US$900 per ounce  notwithstanding
the strong rally in equity prices since March 2009 and the return  to
more stable economic  conditions in many  countries. A by-product  of
easier monetary conditions is increased Asian retail demand for gold.
 
The Company remains active and will provide further information as it
comes to  hand. Our  website  at www.greatlandgold.com  is  regularly
updated with in depth information on the Company.
 
Greatland continues to pursue corporate opportunities with a view  to
entering into joint venture or farm-out deals for one or more of  our
properties. It does now  appear that these will  not be concluded  in
advance of the August drill programme, however the board is still  of
the view  that  such deals  are  possible in  the  current  financial
year.
 
Callum Baxter, Managing Director, commented: "We are pleased with the
recent successful placing and thank all who supported the company.
Activities at the Tasmanian properties have been accelerated which
will lead into drilling programs in the coming months. The results
received from recent sampling at Firetower have provided
encouragement and we are enthusiastically pursuing the drill testing
of defined targets. We remain comfortable in terms of cash resources
which stand at over £1.7 million"
 
Competent Persons
 
The information in this announcement that relates to Exploration
Results is based on information compiled by Mr Paul Askins and Mr
Callum Baxter, directors of Greatland Gold plc, who are both members
of the Australasian Institute of Mining and Metallurgy. Paul Askins
and Callum Baxter have sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity that they are undertaking to qualify as Competent
Persons as defined in the 2004 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Paul Askins and Callum Baxter consent to the inclusion in
the announcement of the matters based on their information in the
form and context in which it appears.
 
All soil  samples were  each 2kg,  prepared at  Genalysis  Laboratory
Services' Adelaide  facility using  180  micron screening,  a  single
stage pulverisation, and analysed  at Genalysis Laboratory  Services'
Perth laboratory. Aqua Regia digest with enhanced sensitivity  atomic
absorption spectrometry analysis technique  (AAS) was used for  gold.
Full quality control is achieved using a suite of standards,  repeats
and blanks.
 
Enquiries:
 
Greatland Gold plc
Callum Baxter
Tel  +44 (0)20 7099 5845
Email:  info@greatlandgold.com
www.greatlandgold.com
 
Grant Thornton UK LLP
Gerry Beaney / Colin Aaronson
Tel  +44 (0)20 7383 5100
 
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