Greatland Gold PLC (GGP.L) Drilling Commences at 100% owned Scallywag Licence

Drilling has commenced at Greatland’s 100% owned Scallywag licence testing the first of several new targets identified following promising results of geophysical analysis

Greatland Gold plc (AIM:GGP), a leading development and exploration company with a focus on tier-one gold-copper deposits, is pleased to announce drilling has commenced at its 100% owned Scallywag licence, the latest campaign in the Company’s 2021 multifaceted exploration programme in the Paterson province of Western Australia.

After receiving regulatory permits the Company has commenced testing multiple new targets at Scallywag following analysis of results of a Heliborne Electromagnetic (“EM”) survey conducted last year and further geological interpretation of regional aeromagnetic and gravity datasets.

Exploration work at Scallywag is focussed on the discovery of large-scale intrusion related gold-copper deposits such as Havieron, Telfer and Winu.

Highlights

§ Multiple conductors were identified following a detailed analysis of Heliborne EM including:

§ Swan – a strong Airborne EM conductor located in an interpreted fold structure with coincident gravity anomaly developed adjacent to, or truncated by, a crustal scale fault.

§ A34, A35 and A36 – discrete segments of strongly conductive material coincident with a positive gravity response .

§ Additional nearby new targets were identified from ongoing geological interpretation assisted by detailed aeromagnetic and gravity data. Targets include “Architeuthis”, “Teach” and “Barbossa West”.

§ The first pass program comprises eight holes for 4,500 metres, with heritage clearances and statutory work permits now in place.

§ Ground EM will commence in the coming weeks to further improve our understanding and model several conductors identified from the Airborne EM.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented:

“We are excited to have commenced our drilling campaign at Scallywag, which is focused on a number of high-priority targets in ground adjacent to Havieron. These targets have been selected due to their compelling geological characteristics borne out across multiple datasets and analysis, particularly the EM survey conducted last year.

As a 100% owned asset, Scallywag presents an opportunity to deploy our proven expertise and potentially deliver further exploration upside for our shareholders.”

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

Further Information on Drill Programme at Scallywag

Drilling has commenced on targets identified within Greatland’s 100% owned Scallywag licence, adjacent to the Havieron project within the Paterson region. The 2021 Scallywag drill programme is designed to test a series of Airborne EM anomalies identified in the 2020 AEM survey and three new targets (named “Architeuthis”, “Teach” and “Barbossa West”) identified through ongoing geological interpretation assisted by detailed aeromagnetic and gravity data.

The first pass programme comprises eight holes for approximately 4,500 metres, with heritage clearances and statutory work permits in place. The first pass drilling programme is expected to be completed in late calendar 2021.

Analysis of results from Heliborne EM geophysical survey conducted last year has identified multiple new conductors within the Scallywag licence including:

§ Swan: a strong, deep AEM conductor located in an interpreted fold structure developed adjacent to, or truncated by, structures in the crustal scale Kaliranu Fault Zone; and

§ A34, A35 and A36: discrete segments of strongly conductive material coincident with positive gravity responses.

Ongoing geological interpretation has identified new nearby targets within the Scallywag licence named “Architeuthis”, “Teach” and “Barbossa West”. Architeuthis is a magnetic anomaly located 9km north west along strike of Havieron, and Teach is located 6km to the west. In both targets the magnetic response is considered to represent alteration potentially similar to that identified at Havieron. Barbossa West is interpreted to overly a series of parasitic anticlinal fold structures in stratigraphy including the Puntapunta Formation, host to gold and copper mineralisation at Havieron.

Additional information is presented in Appendices I and II. Targets are shown in Figures 1 and 2.

A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: www.greatlandgold.com/paterson

Figure 1. Scallywag project, with targets including Architeuthis and Teach on aeromagnetic image. Greatland tenements include Scallywag E45/ 4701 (100%) and Black Hills E45/ 4512 (Greatland 75%, JV with Newcrest Mining).

Figure 2 . Scallywag project, with Airborne EM anomalies and other targets on a depth slice of the conductivity depth inversion data, approximately 250m below surface. Greatland tenements include Scallywag E45/ 4701 (100%) and Black Hills E45/ 4512 (Greatland 75%, JV with Newcrest Mining).

Competent Person:

Information in this announcement pertaining to Reporting of Exploration Results has been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is a full-time employee of the Company. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking 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, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Additional information on the project can be found on the Company’s website at www.greatlandgold.com/paterson/

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

Enquiries:

Greatland Gold PLC

Shaun Day/Callum Baxter

+44 (0)20 3709 4900

info@greatlandgold.com

www.greatlandgold.com


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