TIDMGGP

RNS Number : 4600S

Greatland Gold PLC

06 November 2019

6 November 2019

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Greatland identifies multiple targets at Paterson Range East

Comprehensive geophysical surveys covering entire Paterson Range East licence identify multiple high-priority targets

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that it has identified multiple targets at its Paterson Range East licence following completion of comprehensive geophysical surveys conducted over the entire licence area.

The Paterson Range East licence, E45/4928, is 100% owned by Greatland and lies approximately 25 kilometres north of the Company's Havieron gold-copper prospect. The licence covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation.

A comprehensive ground gravity survey has been completed at Paterson Range East. A total of 3,736 new gravity stations were collected over the entire tenement at a spacing of 400m by 200m, with station spacing closed to 200m by 200m over selected magnetic anomalies. Results from the ground gravity survey have been received and modelled in conjunction with previously announced detailed airborne magnetic data, and are reported in this announcement.

Key Highlights of Results and Modelling

-- Eight high-priority targets have been identified following modelling of detailed magnetic and gravity data, including four primary targets:

o Goliath: Originally identified as a very high amplitude, bulls-eye magnetic feature in Greatland's recent aeromagnetic survey, new data shows a very large amplitude gravity anomaly semi-coincident with the magnetic anomaly.

o Los Diablos: A bulls-eye, high intensity magnetic anomaly located in a structurally favourable position with a gravity response of moderate to high amplitude coincident with the magnetic feature.

o Prefect: A high amplitude magnetic anomaly with a semi-coincident moderate amplitude gravity response.

o Atlantis: Characterised by two distinct east-west trending high amplitude magnetic anomalies on the western edge of the tenement, new ground gravity data has defined three target areas within Atlantis.

-- Mobile Metal Ion ("MMI") sampling has been completed at 200m by 200m sample spacing over all key Paterson Range targets. MMI results are pending and will be incorporated with latest data sets to prioritise targets for further geophysical work and drill testing.

-- Limited historical drilling was conducted in the early 1990s at each of the four primary targets but drilling failed to adequately test these targets with most holes too shallow to intersect the modelled anomalies.

Gervaise Heddle, Chief Executive Officer, commented: "The results from the recent geophysical surveys at Paterson Range East further advance our knowledge and understanding of an underexplored part of the Paterson which has outstanding potential to host tier-one gold-copper deposits. In particular, the Los Diablos and Prefect targets share very similar geophysical characteristics to Havieron, and appear to be under significantly less cover than Havieron.

"Our systematic exploration programmes across the Paterson Range East and Scallywag prospect areas this year have successfully highlighted a dozen high-priority targets. We look forward to advancing this exciting set of opportunities as we continue to accelerate our exploration activities in the Paterson region."

In addition to this release, a PDF version of this report, with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc

Overview of Paterson Project and Paterson Range East licence

The Company's Paterson project comprises the Havieron, Paterson Range East, and Black Hills licences, located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres and are prospective for Telfer style gold-copper deposits, and Havieron style gold-copper mineralisation.

The Paterson region is currently one of the most active exploration areas in Australia. Recent exploration success achieved by Greatland and Rio Tinto demonstrates the region has been underexplored, particularly the extensive areas under cover. As well as hosting several large gold and copper deposits such as Telfer and Nifty, more recent exploration has outlined several other deposits including Magnum (Au), Calibre (Au), O'Callaghans (W, Cu) and Maroochydore (Cu). The region is remote, however infrastructure is good with several operating mines, roads, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.

The Paterson Range East licence, E45/4928, lies approximately 25 kilometres north of the Havieron gold-copper prospect. The Havieron prospect is currently under a Farm-In agreement with Newcrest Operations Limited, while Paterson Range East remains 100% owned and operated by Greatland. The Paterson Range East licence covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation. Basement rocks are covered by varying amounts of younger Permian sediments ranging in depth from less than 100m up to more than 400m based on sparse historical drilling.

It is widely recognised that additional gold-copper discoveries in the Paterson will come from areas under cover, and that geophysics is a critical component of the discovery process. Greatland continues to apply its proven expertise at Paterson Range East through a systematic approach to exploring under cover in the Paterson region.

Basement rocks at Paterson Range East are interpreted to be predominantly calcareous rich sandstones intruded by several late stage granitic bodies. Historically, several of these targets have been subject to initial first-pass work, including limited drilling by Newcrest Mining Limited ("Newcrest") in the early 1990s, and show promise at hosting mineralisation as seen at Havieron.

A detailed, low-level 50m line spaced aeromagnetic survey was collected over Havieron in 2005 (by a previous operator) and this data was critical in delineation and drill targeting for Greatland's highly successful 2018 campaign (HAD001-HAD009). To expand this successful approach, Greatland commissioned a detailed, low-level airborne magnetic survey to cover the entire Paterson Range East licence. The survey comprised approximately 5,200 line kilometres at a line spacing of 50m with a mean terrain clearance of 40m. Previous aeromagnetic coverage of the area included 200m and 400m line spaced surveys.

A comprehensive ground gravity survey has been completed at Paterson Range East. A total of 3,736 new gravity stations were collected over the entire tenement at a spacing of 400m by 200m with local infill at 200m by 200m over selected magnetic anomalies. Results from the recent ground gravity survey have been received and modelled, and are reported in this announcement.

Four primary targets and four secondary targets have been identified following modelling of the detailed magnetic and gravity data. MMI sampling has been completed at 200m by 200m sample spacing over all targets with results pending. The four primary targets are described below.

New Primary Targets within Paterson Range East

Goliath: Originally identified as a very high amplitude bulls-eye magnetic feature in Greatland's recent aeromagnetic survey, Goliath is interpreted to be a metasedimentry dome with the magnetic anomaly at the fold hinge position. New gravity data shows a very large amplitude anomaly semi-coincident with the magnetic anomaly. Three historic drill holes were completed in the early 1990s off the northern edge of the magnetic anomaly failed to reach Proterozoic basement (OCE0102 - hole depth 88m).

Los Diablos: A bulls-eye high intensity magnetic anomaly located in a structurally favourable position (interpreted hinge zone of a folded sequence of metasedimentary rocks). The gravity response is of moderate to high amplitude and coincident with the magnetic feature. Three historic holes targeting the southern edge of the magnetic anomaly were drilled in the early 1990's. These holes failed to adequately test the magnetic and gravity anomalies (CAW07 - hole depth 70m).

Prefect: A high amplitude magnetic anomaly with a semi-coincident moderate amplitude gravity anomaly. One historic hole drilled in 1995 (PRD9501 hole depth 192m) penetrated basement and drilled metasediments, a diorite dyke and granite. The centre of the gravity response is 200m west of the historic drill hole, whilst the magnetic feature has not been adequately tested due to its depth extent.

Atlantis: Characterised by two distinct east-west trending high amplitude magnetic anomalies on the western edge of the tenement. Ground gravity surveying has defined three targets. The northern most target was drilled in 1995 (ATD9501 - hole depth 267.6m). Greatland's 3D modelling of the magnetic data suggests this hole was terminated prematurely. The remaining targets are untested.

Further work may include Induced Polarisation ("IP") and Electromagnetic ("EM") geophysical surveys to refine drill targeting.

Additional information on the Paterson Range East licence can be found at the Company's web site: www greatlandgold.com

In addition to this release, a PDF version of this report, with supplementary information can be found at the Company's web site www.greatlandgold.com/media/jorc

Competent Person:

Information in this announcement that relates to exploration results is based on information compiled by Mr Mick Sawyer who is a member of the Australian Institute of Geoscientists and is a Registered Professional Geoscientist (R.P.Geo #10194). Mr Sawyer is Exploration Manager and a full-time employee of Greatland Pty Ltd, and holds employee options in Greatland Gold plc. Mr Sawyer has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Sawyer consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

Information in this announcement that relates to Paterson Range East exploration results has been extracted from the following announcements:

"Rio Tinto Exploration Update - Winu project", dated 1 August 2019

"Paterson Range East - Results and Exploration Update", dated 15 July 2019

"Exploration to Commence at Paterson Range East", dated 22 May 2019

"Rio Tinto Exploration Update - Winu project" dated 6 June 2019

"Rio Tinto Exploration Update - copper-gold mineralisation discovered in the Paterson Province in the far eat Pilbara region of Western Australia" dated 27 Feb 2019

Enquiries:

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email: info@greatlandgold.com

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel: +44 (0)14 8341 3500

Numis Securities Limited (Joint Broker)

John Prior/Paul Gillam/Alamgir Ahmed

Tel: +44 (0)20 7260 1000

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: +44 (0)20 7618 9100

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 gold, copper and nickel exploration projects.

The Company has six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.

In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65 million.

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 precious and strategic metals and will update the market on new opportunities as and when appropriate.

JORC Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

 
 Criteria       Explanation                                                    Commentary 
 Sampling                                                                       GROUND GRAVITY GEOPHYSICAL SURVEY 
  techniques      *    Nature and quality of sampling (eg cut channels,           *    A ground gravity geophysical survey was undertaken 
                       random chips, or specific specialised industry                  during July to September 2019, by Atlas Geophysics 
                       standard measurement tools appropriate to the                   Pty Ltd, an independent geophysical acquisition 
                       minerals under investigation, such as down hole gamma           contractor. 
                       sondes, or handheld XRF instruments, etc). These 
                       examples should not be taken as limiting the broad 
                       meaning of sampling.                                       *    The survey employed the following sampling 
                                                                                       techniques: Ground Gravity and DGPS survey. 
 
                  *    Include reference to measures taken to ensure sample 
                       representivity and the appropriate calibration of any      *    The survey used the following sampling equipment: 
                       measurement tools or systems used. 
 
                                                                                 Method: Ground Gravity and DGPS 
                  *    Aspects of the determination of mineralisation that       Array: 400x200m and 200x200m grids 
                       are Material to the Public Report. In cases where         Gravity Instrument: 2x Scintrex 
                       'industry standard' work has been done this would be      CG-5 Autograv Gravity Meters (SN: 
                       relatively simple (eg 'reverse circulation drilling       40361, 40240). 
                       was used to obtain 1 m samples from which 3 kg was        DGPS Instrument: 2x Leica System 
                       pulverised to produce a 30 g charge for fire assay').     1200 GNSS Rover Receivers, 1x 
                       In other cases more explanation may be required, such     Leica System 1200 GNSS Base Receiver. 
                       as where there is coarse gold that has inherent 
                       sampling problems. Unusual commodities or 
                       mineralisation types (eg submarine nodules) may 
                       warrant disclosure of detailed information. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Drilling 
  techniques       *    Drill type (eg core, reverse circulation, open-hole       *    This release has no reference to previously 
                        hammer, rotary air blast, auger, Bangka, sonic, etc)           unreported drill results. 
                        and details (eg core diameter, triple or standard 
                        tube, depth of diamond tails, face-sampling bit or 
                        other type, whether core is oriented and if so, by 
                        what method, etc). 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Drill sample 
  recovery        *    Method of recording and assessing core and chip            *    This release has no reference to previously 
                       sample recoveries and results assessed.                         unreported drill results. 
 
 
                  *    Measures taken to maximise sample recovery and ensure 
                       representative nature of the samples. 
 
 
                  *    Whether a relationship exists between sample recovery 
                       and grade and whether sample bias may have occurred 
                       due to preferential loss/gain of fine/coarse 
                       material. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Logging 
                   *    Whether core and chip samples have been geologically      *    This release has no reference to previously 
                        and geotechnically logged to a level of detail to              unreported drill results. 
                        support appropriate Mineral Resource estimation, 
                        mining studies and metallurgical studies. 
 
 
                   *    Whether logging is qualitative or quantitative in 
                        nature. Core (or costean, channel, etc) photography. 
 
 
                   *    The total length and percentage of the relevant 
                        intersections logged. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Sub-sampling 
  techniques       *    If core, whether cut or sawn and whether quarter,             *    This release has no reference to previously 
  and sample            half or all core taken.                                            unreported drill results. 
  preparation 
 
                   *    If non-core, whether riffled, tube sampled, rotary 
                        split, etc and whether sampled wet or dry. 
 
 
                   *    For all sample types, the nature, quality and 
                        appropriateness of the sample preparation technique. 
 
 
                   *    Quality control procedures adopted for all 
                        sub-sampling stages to maximise representivity of 
                        samples. 
 
 
                   *    Measures taken to ensure that the sampling is 
                        representative of the in situ material collected, 
                        including for instance results for field 
                        duplicate/second-half sampling. 
 
 
                   *    Whether sample sizes are appropriate to the grain 
                        size of the material being sampled. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Quality of                                                                    GROUND GRAVITY GEOPHYSICAL SURVEY 
 assay data       *    The nature, quality and appropriateness of the            *    A ground gravity geophysical survey was undertaken 
 and                   assaying and laboratory procedures used and whether            during July to September 2019, by Atlas Geophysics 
 laboratory            the technique is considered partial or total.                  Pty Ltd, an independent geophysical acquisition 
 tests                                                                                contractor. 
 
                  *    For geophysical tools, spectrometers, handheld XRF 
                       instruments, etc, the parameters used in determining      *    The survey consisted of 3,736 new gravity stations 
                       the analysis including instrument make and model,              collected on 400x200m and 200x200m grids. This survey 
                       reading times, calibrations factors applied and their          was designed to provide regional coverage and infill 
                       derivation, etc.                                               over target areas. 
 
 
                  *    Nature of quality control procedures adopted (eg          *    Data QAQC was completed by the acquisition contractor 
                       standards, blanks, duplicates, external laboratory             and verified by an independent consultant 
                       checks) and whether acceptable levels of accuracy (ie          geophysicist using industry standard Windisp 
                       lack of bias) and precision have been established.             software. 
 
 
                                                                                 *    Data QAQC showed that the obtained data is of 
                                                                                      moderate quality. 
 
 
                                                                                 *    Processing and 3D modelling of the data was completed 
                                                                                      by an independent consultant geophysicist using 
                                                                                      industry standard Windisp and 3DMGINV software. 
 
 
                                                                                 *    The derived subsurface geophysical models of density 
                                                                                      are interpreted with a high degree of confidence. 
 
 
                                                                                 *    This release has no reference to previously 
                                                                                      unreported drill results, sampling, assays or 
                                                                                      mineralisation. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Verification 
 of sampling      *    The verification of significant intersections by           *    Data QAQC was completed by the acquisition contractor 
 and assaying          either independent or alternative company personnel.            and verified by an independent consultant 
                                                                                       geophysicist. 
 
                  *    The use of twinned holes. 
                                                                                  *    This release has no reference to previously 
                                                                                       unreported drill results, sampling, assays or 
                  *    Documentation of primary data, data entry procedures,           mineralisation. 
                       data verification, data storage (physical and 
                       electronic) protocols. 
 
 
                  *    Discuss any adjustment to assay data. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Location 
 of data          *    Accuracy and quality of surveys used to locate drill      *    km = kilometre; m = metre; mm = millimeter; mgal = 
 points                holes (collar and down-hole surveys), trenches, mine           milligal; nT = nanoTelsa 
                       workings and other locations used in Mineral Resource 
                       estimation. 
                                                                                 *    The coordinate system is GDA94 MGA Zone 51S 
                                                                                      coordinates. 
                  *    Specification of the grid system used. 
 
 
                  *    Quality and adequacy of topographic control.             GROUND GRAVITY GEOPHYSICAL SURVEY 
                                                                                 *    Lecia 1200 GNSS DGPS system was used to determine X,Y, 
                                                                                      Z for each gravity station. 
 
 
                                                                                 *    This release has no reference to previously 
                                                                                      unreported drill results. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Data spacing                                                                   GROUND GRAVITY GEOPHYSICAL SURVEY 
 and              *    Data spacing for reporting of Exploration Results.         *    The survey consisted of 3736 new gravity stations 
 distribution                                                                          collected on 400x200m (400m spaced E-W lines and 200m 
                                                                                       stations) and 200x200m grids. 
                  *    Whether the data spacing and distribution is 
                       sufficient to establish the degree of geological and 
                       grade continuity appropriate for the Mineral Resource      *    Decimation testing of ground gravity data collected 
                       and Ore Reserve estimation procedure(s) and                     over Havieron (100x100m) confirmed that the maximum 
                       classifications applied.                                        400x200m station spacing is appropriate to detect 
                                                                                       mineralization style targeted. 
 
                  *    Whether sample compositing has been applied. 
                                                                                  *    This release has no reference to previously 
                                                                                       unreported drill results, sampling, assays or 
                                                                                       mineralisation. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Orientation                                                                    GROUND GRAVITY GEOPHYSICAL SURVEY 
 of data in       *    Whether the orientation of sampling achieves unbiased      *    The survey consisted of 1180 new gravity stations 
 relation              sampling of possible structures and the extent to               collected on a 400x200m grid. 
 to                    which this is known, considering the deposit type. 
 geological 
 structure                                                                        *    The grid geometry provides 200m along line station 
                  *    If the relationship between the drilling orientation            coverage approximately perpendicular to regional 
                       and the orientation of key mineralised structures is            geological strike. 
                       considered to have introduced a sampling bias, this 
                       should be assessed and reported if material. 
                                                                                  *    This release has no reference to previously 
                                                                                       unreported drill results. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Sample 
 security          *    The measures taken to ensure sample security.             *    This release has no reference to previously 
                                                                                       unreported drill results. 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 Audits or                                                                       GROUND GRAVITY GEOPHYSICAL SURVEY 
  reviews          *    The results of any audits or reviews of sampling          *    Data QAQC was completed by the acquisition contractor 
                        techniques and data.                                           (Atlas Geophysics Pty Ltd) and verified by an 
                                                                                       independent consultant geophysicist (Montanna GIS Pty 
                                                                                       Ltd). 
 
 
                                                                                  *    QAQC of the processed gravity data and derived 
                                                                                       subsurface density model was verified by an 
                                                                                       independent consultant geophysicist (Montanna GIS Pty 
                                                                                       Ltd). 
               -------------------------------------------------------------  -------------------------------------------------------------- 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 Criteria         Explanation                                                    Commentary 
 Mineral 
 tenement            *    Type, reference name/number, location and ownership       *    The Paterson Range East Project is located wholly 
 and land                 including agreements or material issues with third             within the following Exploration Licence: 
 tenure status            parties such as joint ventures, partnerships, 
                          overriding royalties, native title interests, 
                          historical sites, wilderness or national park and         *    E45/4928 (granted) 
                          environmental settings. 
 
                                                                                    *    Greatland Pty Ltd holds a 100% interest in E45/4928 
                     *    The security of the tenure held at the time of 
                          reporting along with any known impediments to 
                          obtaining a license to operate in the area.               *    Newcrest Operations Limited holds right of first 
                                                                                         refusal as per Farm-in Agreement dated 12(th) March 
                                                                                         2019. 
 
 
                                                                                    *    The tenements are in 'good standing' with the WA - 
                                                                                         DMIRS. 
 
 
                                                                                    *    No known impediments exist, including a licence to 
                                                                                         operate in the area. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Exploration 
  done by other      *    Acknowledgment and appraisal of exploration by other         *    Exploration in the region of the Paterson Range East 
  parties                 parties.                                                          Project has involved the following companies: 
 
 
                                                                                       *    Newmont (1987-1989) 
 
 
                                                                                       *    Newcrest (1990 - 1996) 
 
 
                                                                                       *    BHP Minerals (1993 - 1995) 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Geology 
                     *    Deposit type, geological setting and style of             *    Paterson Province Geological Setting: 
                          mineralisation. 
 
                                                                                    *    Proterozoic meta-sedimentary rocks. 
 
 
                                                                                    *    Targeted Mineralisation styles include: 
 
 
                                                                                    *    Iron Oxide (IOCG) and Iron Sulphide (ISCG) copper and 
                                                                                         gold. 
 
 
                                                                                    *    Intrusive Related and Skarn-style gold and copper. 
 
 
                                                                                    *    Orogenic (vein and reef style) gold; 
 
 
                                                                                    *    Carlin-style gold. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Drill hole 
  Information        *    A summary of all information material to the                  *    No drilling has been completed at this stage of the 
                          understanding of the exploration results including a               exploration program. 
                          tabulation of the following information for all 
                          Material drill holes: 
 
 
                     *    easting and northing of the drill hole collar 
 
 
                     *    elevation or RL (Reduced Level - elevation above sea 
                          level in metres) of the drill hole collar 
 
 
                     *    dip and azimuth of the hole 
 
 
                     *    down hole length and interception depth 
 
 
                     *    hole length. 
 
 
                     *    If the exclusion of this information is justified on 
                          the basis that the information is not Material and 
                          this exclusion does not detract from the 
                          understanding of the report, the Competent Person 
                          should clearly explain why this is the case. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Data 
 aggregation        *    In reporting Exploration Results, weighting averaging      *    This release has no reference to previously 
 methods                 techniques, maximum and/or minimum grade truncations            unreported drill results. 
                         (eg cutting of high grades) and cut-off grades are 
                         usually Material and should be stated. 
 
 
                    *    Where aggregate intercepts incorporate short lengths 
                         of high grade results and longer lengths of low grade 
                         results, the procedure used for such aggregation 
                         should be stated and some typical examples of such 
                         aggregations should be shown in detail. 
 
 
                    *    The assumptions used for any reporting of metal 
                         equivalent values should be clearly stated. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Relationship 
 between            *    These relationships are particularly important in the      *    This release has no reference to previously 
 mineralisation          reporting of Exploration Results.                               unreported drill results. 
 widths and 
 intercept 
 lengths            *    If the geometry of the mineralisation with respect to 
                         the drill hole angle is known, its nature should be 
                         reported. 
 
 
                    *    If it is not known and only the down hole lengths are 
                         reported, there should be a clear statement to this 
                         effect (eg 'down hole length, true width not known'). 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Diagrams 
                     *    Appropriate maps and sections (with scales) and           *    This release has no reference to previously 
                          tabulations of intercepts should be included for any           unreported drill results. 
                          significant discovery being reported These should 
                          include, but not be limited to a plan view of drill 
                          hole collar locations and appropriate sectional           *    Diagrams including plan maps, perspective and section 
                          views.                                                         views are provided with this report. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Balanced 
  reporting          *    Where comprehensive reporting of all Exploration             *    The company believes this announcement is a balanced 
                          Results is not practicable, representative reporting              report, and that all material information has been 
                          of both low and high grades and/or widths should be               reported. 
                          practiced to avoid misleading reporting of 
                          Exploration Results. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Other 
 substantive        *    Other exploration data, if meaningful and material,            *    Previous exploration results included in this 
 exploration             should be reported including (but not limited to):                  announcement can be found on the company website: 
 data                    geological observations; geophysical survey results;                www.greatlandgold.com 
                         geochemical survey results; bulk samples - size and 
                         method of treatment; metallurgical test results; bulk 
                         density, groundwater, geotechnical and rock 
                         characteristics; potential deleterious or 
                         contaminating substances. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 Further work 
                     *    The nature and scale of planned further work (eg          *    Incoming MMI soil geochemistry results are pending. 
                          tests for lateral extensions or depth extensions or            This data will assist further target refinement. 
                          large-scale step-out drilling).                                Other planned further work potentially including 
                                                                                         local scale electrical geophysical surveys to further 
                                                                                         refine targets. 
                     *    Diagrams clearly highlighting the areas of possible 
                          extensions, including the main geological 
                          interpretations and future drilling areas, provided 
                          this information is not commercially sensitive. 
                 -------------------------------------------------------------  ---------------------------------------------------------------- 
 

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END

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