Exploration Update

GREATLAND GOLD PLC
 
                         Exploration Update
 
10 September 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.
 
The Company has received formal  approval for drilling activities  at
the  Firetower   gold   project  from   the   Tasmanian   Government.
Furthermore, encouraging  results  have been  received  from  surface
sampling at the Firetower project.
 
Firetower
 
Formal approval for diamond  drilling at the  Anomaly 1 prospect  has
been received by the Company from the Tasmanian Government department
of Mineral Resources Tasmania. Drilling of four holes for a total  of
600m will test a strong gold in soils anomaly peaking at 916ppb  gold
at the Anomaly 1 prospect. As approval for drilling has only recently
been received, drilling is now  expected to commence within the  next
month.
 
Also at  the  Firetower  project, results  have  been  received  from
surface soil sampling  at the  Lobster and Rising  prospects. At  the
Lobster prospect, results  were encouraging, peaking  at 44ppb  gold.
Strike length of the anomaly has not been defined as it has not  been
closed off. At the Rising prospect, results peaked at 7.8ppb gold and
strike length has  not yet been  determined. Further work,  including
soil sampling and mapping will be carried out at both these areas.
 
Warrentinna
 
The RC drilling at  the Derby North  prospect has been  conditionally
approved by  the Tasmanian  Government. However,  recent heavy  rains
have prevented access into forestry areas. Consequently, drilling has
been delayed until water has dissipated and the ground has dried  out
sufficiently for heavy vehicles. The Company currently estimates that
October will be the earliest month in which drilling may commence  at
Warrentinna,  but  this  could  extend  into  November  or   December
depending upon the levels of rainfall.
 
East Lisle
 
Data compilation and initial field reconnaissance has been  completed
by the  Company. The  Lisle  goldfield is  reputed to  have  produced
250,000 ounces of gold from alluvial workings. The area has been only
patchily explored by  various companies  since the  early 1970s  with
limited success at  locating the  bedrock source.  Almost no  bedrock
drill testing has been done to date.
 
The bedrock source of the alluvial gold remains open to  speculation,
however, Greatland  has  preliminary compilations  and  models  which
suggest  that  a  major  source   of  lode  and  disseminated   style
mineralisation -  merely  covered in  thin  scree, and  readily  open
pittable  -  may   be  found  with   systematic  modern   exploration
techniques.
 
Ernest Giles
 
This large gold project is located in Western Australia and is one of
only a few major greenstone belts in the Yilgarn region that has  not
been explored in  detail due  to its remote  location and  relatively
deep cover.
 
The  Company  has   completed  a  preliminary   review  of   existing
geophysical data and has  defined approximately twelve target  areas.
Interpretation will  be  refined in  the  current quarter  and  drill
targets outlined. Field reconnaissance is expected to be completed in
the final quarter of 2009.
 
Corporate
 
The Company is encouraged  by the recent strength  in the gold  price
which has risen above US$1,000 per ounce and is within 3% of its  all
time record price set in March  2008. Gold is being supported due  to
its traditional role as an  inflationary hedge (as leading  economies
implement quantitative  easing/  money  supply  strategies)  and  its
expanding role in the retail sector. The World Gold Council said that
gold demand in China rose by 6%  in the second quarter of 2009,  with
buyers preferring the  24 carat  coins. The World  Gold Council  also
expects gold demand to be buoyed  by the post monsoon wedding  season
in India and retailer restocking  ahead of the US Christmas  shopping
season.
 
The Company remains vigilant in respect of pursuing new opportunities
such as Ernest  Giles as well  as introducing risk  and cost  sharing
initiatives to  its  overall portfolio.  The  board is  committed  to
keeping a  tight rein  on the  Company's capital  expenditure as  its
drilling plans get underway.
 
For a closer and more  in-depth look at Greatland's drill  prospects,
the    'Projects'     section     on    the     Company's     website
(www.greatlandgold.com) contains recent updates and map data.
 
Callum Baxter, Managing Director, commented: "We are pleased to see
the recent strength in the gold price. This bodes well for the
Company and its portfolio of projects in Tasmania and Western
Australia focussed on gold mineralisation. We continue to remain
active with mapping, surface sampling and drill programs at our
projects throughout the second half of 2009."
 
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 Corporate Finance
Gerry Beaney / Colin Aaronson
Tel  +44 (0)20 7383 5100
 
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