Greatland Gold plc (AIM: GGP)

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NEWS RELEASE | 17 October 2023

Havieron Quarterly Update

Continuing decline development at Havieron surpasses 2,800 metres

Newmont-Newcrest takeover approved

Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to provide an update on activities and developments at Havieron, the world class gold-copper project located in the Paterson Province of Western Australia, for the September 2023 quarter.

Highlights

§  Decline development: Progress continues with total development to date now exceeding 2,820 metres.

§  Newmont-Newcrest takeover: All regulatory, shareholder and court approvals received with implementation shortly.

Development update

Greatland's Havieron joint venture partner, Newcrest Mining Limited (ASX:NCM, Newcrest), released its quarterly activities report today, reporting in respect of Havieron that total development has reached 2,824 metres at 8 October 2023.  The main decline has now achieved 2,030 metres of the 2,800 metres required to reach the base of the Permian cover.  Development is now approaching the lower and final aquifer that lies at the base of the Permian cover.

Newmont-Newcrest takeover approved

Newcrest is Greatland's 70% joint venture partner in the Havieron project. As previously announced, Newcrest is currently the subject of an agreed takeover by Newmont Corporation (NYSE:NEM, Newmont) that is due to complete in November.  It has been announced that all regulatory, shareholder and Court approvals required for implementation of the transaction have now been received, with implementation due to occur on 6 November 2023. 

With the transaction now unconditional, Greatland welcomes Newmont as its Havieron joint venture partner. Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead.  Newmont operates a global portfolio of world-class projects and is led by a highly experienced management team with a proven track record of project development and value creation.  Greatland looks forward to the opportunity to work constructively with Newmont to optimise the development of Havieron, finalise the feasibility study and progress to a decision to mine.

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 / George Grainger |  +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 an approved takeover by Newmont Corporation that is due to complete on 6 November 2023).

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 with total development now exceeding 2,820m including over 2,030m of advance in the main access decline (as at 8 October 2023).  Subject to a positive feasibility study and Decision to Mine, Havieron is intended to leverage the existing Telfer infrastructure and processing plant.  Access to Telfer will de-risk the development and reduces capital expenditure.

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.