Exploration Update

Greatland Gold PLC
09 October 2006



                                   GREATLAND GOLD plc

                                   Exploration Update

Dated: 9 October 2006


Firetower Drilling and Warrentinna Activities


Greatland Gold plc (the 'Company') the mineral exploration and development
company focused on gold projects in Tasmania and Western Australia is pleased to
announce the first analytical results available from diamond core drilling at
Firetower.

Grades up to 10.40g/t gold with 1.28% copper and 0.7% tungsten are reported.
Results show the high-grade nature of gold mineralisation and, also
significantly, the addition of high-grade base metal and tungsten mineralisation
at Firetower.


Firetower

Drilling commenced in late July and is still in progress. Over 700m have been
completed to date. These reported results summarize the first 172m of drilling,
from the first four holes. Drilling was located within the previously defined
resource area to help determine still poorly constrained geological controls on
mineralisation, and to help locate higher grade zones. We are highly encouraged
by the continuity of grade as seen in holes FTD013-015. Drill hole FTD016 tested
the northern extremes of the system (Table 1).

                          Table 1: Drill Hole Details

Hole ID         AMG East          AMG_North       AMG_Azm.        Dip       Depth
                   (m)               (m)          (degrees)    (degrees)     (m)

  FTD013         446 003          5 405 101          10           -50         60
  FTD014         446 000          5 405 121          10           -50         48
  FTD015         446 000          5 405 122          10           -30        36.5
  FTD016         446 026          5 405 100          31           -50        73.3



AMG - Aust. Map Grid Co-ordinate, Azm - Drillhole Direction, Dip - drillhole
angle from horizontal



The best intercept was within FTD013, of 11m at 3.4g/t gold, which includes a
very high grade zone of 0.5m at 10.4g/t gold, 0.7% tungsten, 1.3% copper, and
0.14% cobalt (Table 2). Such high values in elements other than gold indicate
the potential for valuable by-products. Gold seems to occur in two associations,
one with elevated lead values, up to 1% in places, and the other with tungsten
(and locally copper). Cobalt values are surprisingly high, reaching 0.3%.


                     Table 2: Firetower Significant Results

   HoleNo       From       To      Width      Gold    Tungsten    Lead    Zinc    Copper   Cobalt
                (m)       (m)       (m)      (g/t)       (%)      (%)     (%)      (%)      (%)

FTD013             21.0     27.5        6.5     2.43       0.004   0.22     0.12     0.02     0.06
        incl       23.0     27.5        4.5     3.09       0.004   0.31     0.17     0.02     0.08
        incl       25.5     26.5        1.0     7.19       0.002   0.33     0.12     0.02     0.30

FTD013             32.0     43.0       11.0     3.40        0.17   0.07     0.20     0.23     0.14
        incl       38.0     43.0        5.0                 0.34
        incl       40.5     41.0        0.5    10.41        0.73   0.02     0.07     1.28     0.14

FTD014              1.0     12.0       11.0     2.39        0.07   0.10     0.12     0.02     0.02

FTD015              1.0     10.0        9.0     2.14       0.001   0.10     0.14     0.02     0.02

FTD016             25.0     27.0        2.0     1.84        0.02   0.01     0.04     0.09     0.05



m - metres,  g/t - grams per tonne,  % - per cent



Other Activities at Firetower



Infill soil sampling at the Firetower West prospect is complete, and assays are
awaited. Once available, a programme of drilling to further test this extensive
gold-lead-copper system will commence across the most accessible 1km of the
anomaly, being less than half of the full anomaly extent.



Previous sampling at Firetower West shows mineralisation over a large 3000m x
1000m area peaking at >100ppb gold. Mapping has located mineralised rock samples
at surface. Also, three other high priority areas east of the Firetower prospect
remain to be followed up with surface sampling.



Warrentinna



At Warrentinna, a programme of surface sampling (auger soils) to evaluate the
extent of the Derby-Mara Goldfields, and determine trends within the
Forester-Linton area, has been completed. Analytical results are awaited.



Also an area previously excluded from the Warrentinna project, Mining Lease 64/
1979 Linton, has recently been successfully incorporated into the Warrentinna
licence. Gold mining was carried out at Linton until recent times. A report by
the previous lease holder notes narrow but very high grade intercepts in rock
chipping of old workings. The company intends to complete mapping and sampling
to evaluate the Linton prospect during the coming quarter.



Competent Person/s



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 the Company, 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 Person's
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.


Enquiries:


Callum Baxter      [phone]       Greatland Gold plc                   Managing
                                                                                  Director

John Simpson       [phone]       ARM Corporate Finance Ltd            Nominated
                                                                                  Adviser


Updates on the Company's activities are regularly posted on its website
www.greatlandgold.com


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