Exploration Update - Lisle Drilling Results

19 August 2011

                               GREATLAND GOLD PLC

                               Exploration Update

                             Lisle Drilling Results


Greatland  Gold  plc  (the  "Company"),  the mineral exploration and development
company  focused on gold  projects in Tasmania  and Western Australia, announces
results from drilling at its Lisle project in Tasmania.

Drilling was ineffective as the equipment largely failed to reach target depths.
Gold results were not considered significant.


Lisle

A  program  of  Rotary  Air  Blast  ("RAB")  drilling was completed at the Lisle
project  during July  2011. All holes  were planned  to be  drilled to a maximum
depth of 50m. A total of 22 holes for 479m were completed.

Four  target zones were drilled in an attempt to test for gold mineralisation in
the basement rocks. The program was attempted with an open hole rotary air blast
drilling  rig. This proved to be unsatisfactory.  The rig failed to reach target
zones  in the  majority of  holes. Holes  varied from  12m to 36m deep which was
short of desired depths of 50m.

Drill  spoil was  presented at  surface as  one metre  intervals, sampled as 4m
composites,  then prepared for analysis for  a suite of elements including gold.
Analytical results have now been received.

The  paleochannel  alluvium  worked  by  earlier  miners  was  intersected,  and
generally  this  carried  3 to  10ppb gold  except  for one hole (LER013), which
reported  13, 76 and 39ppb gold in separate 4m samples. At the only target where
basement  was reached,  completely weathered  granitoid basement was interpreted
from  the sample return chips,  but results were low  at a maximum of 4ppb gold.
Results are not considered significant.


Corporate

Callum  Baxter, CEO, commented: "This is a disappointing conclusion to the first
drill  program  for  the  Company  at  the  Lisle  project. The targets were not
effectively  tested and remain to be explored more efficiently. A full review of
the project will be undertaken to guide future efforts. On a more positive note,
Joint Venture negotiations are advanced on one of our Projects and we hope to be
able to provide further detail during the current quarter.


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  RAB drill sample results were  obtained from 4m composite spear sampling to
4kg. All  samples  were  prepared  at  Genalysis  Laboratory  Services' Adelaide
facility  using single stage pulverisation,  and assayed at Genalysis Laboratory
Services' Perth laboratory. A 50g Fire Assay with atomic absorption spectrometry
analysis technique (AAS) was used for gold.

Sample  quality  control  is  achieved  using standards, duplicates, repeats and
blanks.

Where   the   Company   has  made  reference  to  drill  intersections  in  this
announcement, it has interpreted these are at, or near, true widths.



Enquiries:


Greatland Gold plc
Callum Baxter
Tel  [phone]
Email:  [e-mail]
www.greatlandgold.com


Grant Thornton Corporate Finance
Colin Aaronson
Tel  [phone]









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Source: Greatland Gold PLC via Thomson Reuters ONE

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