Greatland Gold plc (AIM: GGP)

E: [email protected]

W: https://greatlandgold.com

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NEWS RELEASE | 11 August 2023

Havieron Project Update

New Havieron 3D model published

Havieron MRE update scheduled for the December 2023 quarter

Greatland Gold plc (AIM:GGP) (Greatland or the Company), a leading precious and base metals focused mining development and exploration company, is pleased to provide an update on the Havieron gold-copper project in the Paterson Province of Western Australia.

Development update 

The main decline continues to progress, having surpassed 1,840 metres.  Decline support excavations for ventilation, services and materials handling takes the total development to over 2,600 metres.  The decline has continued to progress through improved ground conditions since successfully developing through the middle aquifer late last month.

Mineral Resource estimate update

Greatland notes the release of an ASX announcement titled "Annual Mineral Resources and Ore Reserves Statement - as at 30 June 2023" by Newcrest Mining Ltd (Newcrest) earlier today, which provided an annual statement of Newcrest's Resources and Reserves.

Greatland notes that this statement, so far as it relates to Havieron, only restates the previously released statement contained within the Havieron Mineral Resource estimate (MRE) from Newcrest's ASX announcement titled "Annual Mineral Resources and Ore Reserves Statement - as at 30 June 2022" dated 19 August 2022.

Over 80,000 metres of growth drilling has been completed at Havieron since Greatland announced the Havieron March 2022 MRE (refer to RNS announcement titled "Updated Mineral Resource substantially increases Havieron Resource and Reserve" dated 3 March 2022 for further information).

Drilling since Greatland's announcement of the Havieron March 2022 MRE has focused on:

§ Defining the extents of mineralisation in the lower levels of the SE Crescent (3,600 - 4,200mRL);

§ Resource definition within the lower levels of the mineralised system, with a focus on the Eastern Breccia; and

§ Extending the mineral system below the existing Resource.

The work programmes required to incorporate these drill results into an updated Havieron MRE are in progress, and Greatland expects an updated Havieron MRE to be completed in the December 2023 quarter.

Havieron 3D model

Greatland is pleased to announce the release of an updated 3-dimensional (3D) interactive model of the Havieron project, which is available to view on the Company's website or by clicking this link.  The 3D model has been updated to include all Havieron drill intercepts released to date.  The 3D model is for illustrative purposes only and uses previously reported JORC Mineral Resource and Reserve estimates by Greatland.  Any future production at Havieron is subject to a positive Feasibility Study and Decision to Mine.

Greatland Managing Director, Shaun Day, commented: "The underground development at Havieron is making good progress as we continue to advance to the top of the orebody.

We are working towards the publication of an updated MRE, which will incorporate data from a further 80,000 metres of growth drilling at Havieron since our March 2022 MRE update.  We are targeting completion and announcement of an updated MRE during the December 2023 quarter and look forward to updating the market in due course."

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director  |  [email protected]

Nominated Advisor

SPARK Advisory Partners

Andrew Emmott / James Keeshan / Neil Baldwin  |  +44 203 368 3550

Corporate Brokers

Berenberg  |  Matthew Armitt / Jennifer Lee  |  +44 203 368 3550

Canaccord Genuity  |  James Asensio / Patrick Dolaghan  |  +44 207 523 8000

SI Capital Limited  |  Nick Emerson / Sam Lomanto  |  +44 148 341 3500

Media Relations

UK - Gracechurch Group  | Harry Chathli / Alexis Gore / Henry Gamble  |  +44 204 582 3500

Australia - Fivemark Partners  |  Michael Vaughan  |  +61 422 602 720

About Greatland

Greatland is a mining development and exploration company focused primarily on precious and base metals.

The Company's flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with ASX gold major, Newcrest Mining Limited (which is the subject of a takeover by Newmont Corporation by way of a scheme of arrangement).

Havieron is located approximately 45km east of Newcrest's existing Telfer gold mine. The box cut and decline to the Havieron orebody commenced in February 2021.  Significant progress continues on the exploration decline with total development at over 2,600 metres in early August 2023.  Subject to a positive Feasibility Study and Decision to Mine, Havieron may leverage the existing Telfer infrastructure and processing plant.

Greatland has a proven track record of discovery and exploration success and is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions.  Greatland has a number of exploration projects across Western Australia and in parallel to the development of Havieron is focused on becoming a multi-commodity miner of significant scale.