Final Results

Greatland Gold PLC
15 November 2006

                            GREATLAND GOLD PLC

             Final audited results for the year ended 30 June 2006





Dated: 15 November 2006

Greatland Gold plc (the 'Company') the mineral exploration and development
company focused on gold projects in Tasmania and Western Australia announced
today its preliminary results for the period ended 30 June 2006.

Chairman's statement

The financial period to 30th June 2006 was the first of Greatland Gold plc's
corporate life, and saw both the Company's conversion to a PLC and the decision
taken to apply for admission to trading on the AIM market of the London Stock
Exchange.

In May 2006, Greatland Gold plc purchased Greatland Pty Ltd, a company that owns
three gold projects located in Tasmania and Western Australia through the issue
of 25,000,000 ordinary shares in the Company. Following the acquisition, the
issued capital of the Company was 35,000,000 ordinary shares.

Post Balance Sheet Events

On 3rd July 2006 Greatland Gold plc was admitted to trading on AIM, raising
£1,311,000 before expenses. A copy of the admission document, which contains
details of the Company's mineral projects, can be downloaded from our website at
www.greatlandgold.com. Total shares in issue at admission were 100,550,000
ordinary shares.

On 12th September 2006 the company issued 5,000,000 ordinary shares to Sunvest
Corporation Ltd, a company incorporated in Australia, pursuant to an agreement
dated 27th June 2006.

On 6th October 2006 the company issued 1,000,000 ordinary shares to Baracus Pty
Ltd, a company incorporated in Australia, pursuant to an agreement dated 27th
June 2006.

Exploration

The Company announced on 14th August 2006 that exploration at its Tasmanian
projects had commenced. This included diamond drilling of gold mineralisation at
the Firetower project, and geological mapping of historic goldfields at its
Warrentinna project. Results will be released to the market in a timely manner.

Outlook

The Directors believe the Company is well positioned within the global mining
sector. This sector is enjoying strong commodity prices, high demand and
experiencing rapid expansion. During 2006 and 2007 the Company is expected to
grow and it is anticipated that it will continue to be a period of active
development. Along with ongoing activities at its existing projects the
Directors are reviewing new opportunities that are being presented and expect to
undertake further acquisitions of quality exploration and mining projects.

Conclusions

I would like to record my appreciation and thanks to our new investors who
supported the Placing. Thanks also to our professional advisors for their work
during fund raising and the admission to AIM.

Andrew R. McM. Bell

Chairman

14th November 2006

Managing Director's Operating Review

The main activities of Greatland Gold plc are the exploration for, and
development of, large gold resources. The Company was formed and registered as
Greatland Gold Limited. A decision was taken during June to apply for admission
to trading on AIM.

The Company acquired three mineral properties in May 2006 through the
acquisition of Greatland Pty Ltd. Greatland Gold plc's portfolio of properties
now consist of these three projects - two in Tasmania and one in Western
Australia.

The gold price has seen significant gains since the latter parts of 2005, and is
currently on a general upward trend. Whilst short term volatility is apparent
the longer term trend is positive.

The gold market is driven by a number of factors that affect the price of the
metal. These include central bank gold sales, industrial demand, jewellery
demand, investment demand, gold based foreign exchange reserves, mine production
and scrap reclamation. Perceived weaknesses in the US economy are also relevant.

Tasmania had been a productive and profitable place to mine, with large gold and
base metal deposits; particularly +1 million ounces gold deposits. The Company
is looking for further deposits of that scale.

In Tasmania the company owns the Firetower and Warrentinna projects, and in
Western Australia the Lackman Rock project in the Yilgarn region in the south
east of the state. The tenements cover a total area of around 300sq km. They
range in development from advanced exploration, with a resource at the Firetower
project, through prospects with identified targets at both Firetower and
Warrentinna, to a prospective grass roots gold and nickel area at Lackman Rock.

The initial focus is the Firetower project located in central northern Tasmania,
in close proximity to the +2 million ounce Beaconsfield gold mine and the large
Henty gold mine. A large proportion of the Company's exploration efforts will be
directed at drilling at Firetower, with the aim of increasing the resource base.

Firetower is characterised by high-grade gold mineralisation at surface and
drill intercepts up to 30g/t gold. Mineralisation remains open in all directions
and at depth, and comes to surface making it attractive for open pit mining.
Other areas of gold mineralisation and structural targets have been identified
over 15km of strike east and west of the Firetower deposit. These targets await
drill testing.

The Company's other Tasmanian project is the Warrentinna gold project, located
in an historic gold precinct in the north east of the state. The project area
covers three historic goldfields, Warrentinna, Forester, and Waterhouse that
were mined some 100 years ago. High grade gold from lodes at surface were pulled
from the region. Gold was also taken from underground workings, but the area has
not been subject to significant modern exploration efforts.

The Company also has other exploration targets to be drill tested at both
Firetower, Warrentinna, as well as at the Lackman Rock project in Western
Australia. Lackman Rock lies in the south Yilgarn region that is host to
significant deposits of gold and nickel sulphides. This is a greenfield
opportunity where we plan to develop gold and nickel sulphide targets. We are
first movers into this area and from a geological perspective it is a very good
opportunity.

One of the factors that will help the Company achieve its goals is the calibre
of its board. We have a good mix of technical talent, promotional experience,
financing capacity and corporate ability.

The admission to AIM on 3rd July 2006, subsequent to this reporting period,
clearly demonstrates that your Company is an attractive investment opportunity.
The funds raised will be applied to evaluation of the grade, extent and
metallurgical character of mineralisation within the tenements. The results will
be utilised in developing JORC Code compliant estimates of resources, and
provide a final resource to complete pre-feasibility studies.

We are delighted to have had a successful year and look forward to the exciting
developments in the year ahead as part of AIM - a large and dynamic market.

Callum N Baxter

Managing Director

14th November 2006

The Company's unaudited results for the year ended 30 June 2006 are as follows.



Group Income Statement

For the Period Ended 30 June 2006


                                                                       Period 16
                                                                November 2005 to
                                                                    30 June 2006
                                                                               £

Turnover                                                                       -
Administrative expenses                                                 (27,743)
Operating loss                                                          (27,743)
Interest receivable                                                          131
Loss on ordinary activities before taxation                             (27,612)
Tax on loss on ordinary activities                                             -
Loss for the financial period                                           (27,612)

Loss per share - basic                                              (0.23) pence





There were no items of income and expense for the period ended 30 June 2006
other than those shown in the group income statement.



Group Balance Sheet

As at 30 June 2006


                                                     30 June 2006
                                                          £             £
ASSETS
Non-current assets

Exploration properties                                            291,379
Current assets

Cash and cash equivalents                         1,318,648

Trade and other receivables                          33,897
Total current assets                                            1,352,545
TOTAL ASSETS                                                    1,643,924
LIABILITIES
Current liabilities

Trade and other payables                          (224,458)
TOTAL LIABILITIES                                               (224,458)
NET ASSETS                                                      1,419,466

EQUITY

Called-up share capital                             100,550

Share premium reserve                             1,108,084

Retained losses                                    (27,612)
Other reserves                                      238,444


TOTAL EQUITY                                                    1,419,466






Company Balance Sheet

As at 30 June 2006


                                                     30 June 2006
                                                          £             £
ASSETS
Non-current assets

Investments                                                       250,000
Current assets
Cash and cash equivalents                         1,317,243
Trade and other receivables                          43,138
Total Current Assets                                            1,360,381
TOTAL ASSETS                                                    1,610,381
LIABILITIES
Current Liabilities
Trade and other payables                          (183,692)
TOTAL LIABILITIES                                               (183,692)
NET ASSETS                                                      1,426,689

EQUITY

Called-up share capital                             100,550
Share premium reserve                             1,108,084
Merger reserve                                      225,000
Retained losses                                     (6,945)


TOTAL EQUITY                                                    1,426,689






Group Cash Flow Statement

For the Period Ended 30 June 2006


                                                         Notes      Period ended

                                                                    30 June 2006

                                                                               £


Cash flows from operating activities

Operating loss                                                          (27,743)
Increase in debtors                                                     (23,100)
Increase in creditors                                                    174,142
Cash generated from operations                                           123,299
Cash flows from investing activities
Interest received                                                            131
Purchase of intangible assets                                              (590)
Net cash flows used in investing activities                                (459)
Acquisitions and disposals
Cash acquired with subsidiary acquisition                                 12,174
Net cash inflow from acquisitions and disposals                           12,174
Cash inflows from financing activities
Proceeds from issue of shares                                          1,411,000
Transaction costs of issue of shares                                   (227,366)
Net cash flows from financing activities                               1,183,634
Net increase in cash and cash equivalents                              1,318,648
Cash and cash equivalents at the beginning of period                           -
Cash and cash equivalents at end of period                             1,318,648



Notes to the Financial Statements for the period ended 30 June 2006



1.                  The Directors are not recommending the payment of an
ordinary share dividend.



2.                  Loss per share on the net basis is calculated on a loss on
ordinary activities after taxation of NIL and on 12,000,886 ordinary shares
being the weighted average number of shares in issue and ranking for dividend
during the period. No diluted loss per share is presented as the effect of
exercise of outstanding options is to decrease the loss per share.



3.                  The financial information set out in this final results
announcement does not constitute statutory accounts as defined in section 240 of
the Companies Act 1985.

Results for the year ended 30 June 2006 are abridged from the 2006 Annual Report
and Accounts, which received an unqualified auditor's report and will be filed
with the Registrar of Companies following the Annual General Meeting.



4.         The Annual Report will be posted to shareholders week commencing on
20 November 2006. Further copies will be available from the Company's registered
office: 3rd Floor, 55 Gower Street, London WC1E 6HQ for one month from Friday 24
November or from the company's website www.greatlandgold.com.



5.         The Annual General Meeting of the Company will be held at the
Company's offices at 115 Eastbourne Mews, Paddington, London W2 6LQ, on Tuesday
19 December 2006 at 10.00 a.m.



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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