Interim Results

9 March 2010

                               Greatland Gold plc

             Half-yearly report - six months ended 31 December 2009

Greatland  Gold plc  ("Greatland" or  the "Company"),  the AIM-listed and London
based  gold  exploration  and  development  company  focused on gold projects in
Tasmania  and Western Australia  announces today its  half-yearly report for the
six months ended 31 December 2009.

Greatland  is led by an  experienced UK and Australian  based board of directors
with  a proven  track record  in mineral  exploration, resource  development and
capital markets.

Managing Director's statement

In  the six month period ended 31 December  2009 the Company reported a net loss
of  £382,861 equating  to a  loss per  share of  0.16p (31 December  2008  EPS -
0.1p). The  net  loss  reflects  our  higher exploration expenditure of £262,250
(more than double the comparable period), as we undertook drilling programmes at
our  Firetower and Warrentinna projects. We  expect our drilling and exploration
expenditure  to  remain  elevated  relative  to  levels of previous years as the
Company  looks to continue  its drilling programmes  in Western Australia during
the second half of the financial year.

The  Company has continued  to exercise restraint  on payroll and administrative
expenses  which  declined  3.6% to  £108,450  over  the  period  - a commendable
achievement  given a  high proportion  of our  costs are  the fixed expenditures
involved in maintaining an AIM listing, London office and staffing.

Over  the six month period ended 31 December 2009 the Company's income statement
was affected by a number of external factors, most notably:

i)  the decline in  the Sterling/Australian dollar  exchange rate which caused a
£13,909 loss on translation; and

ii)  the low  interest rate  environment impacted  the Company's interest income
which  declined to just £1,748 (31 December 2008 - £33,176). With regards to the
Company's  ongoing  interest  income,  the  board  does  not expect a short-term
improvement given recent commentary in the UK.

The Greatland balance sheet reflects the Company's prudent approach to liability
and  expense management  with net  assets of  £1.98m, a  very high proportion of
which comprises cash and liquid assets of £1.47m.

Despite   the  delayed  start  to  our  drilling  programmes  at  Firetower  and
Warrentinna  owing  to  heavy  rainfall,  the  drill results as announced on 29
January  2010 were encouraging. To recap, the drill results revealed strong gold
mineralisationat  Warrentinna  necessitating  further  work  to  investigate the
viability of an open pit operation. Work is ongoing at Warrentinna.

At  Firetower  we  will  be  completing  the  modelling  of  current drill data.
Furthermore,  surface geochemistry is planned over areas within the new northern
lease  of Beulah, and surface geochemistry at the southern area of Kentish Hill.
We  also expect to undertake  further work at both  Anomaly 1 and Lobster during
2010.

Following the grant of title for licences over the Ernest Giles and Lackman Rock
projects  in Western Australia, as announced  on 30 July 2009, the board intends
to  prioritise these two prospects during  the remainder of this financial year.
Additionally,  the  board  has  approved  a  drill  programme  for  Ernest Giles
andsystematic  surface  geochemistry  at  Lackman  Rock.  These  programmes  are
scheduled to commence during April 2010.

The  acceleration of the  Company's exploration activities  during the six month
periodended 31 December 2009 is expected to continue into the second half of the
financial  year,  particularly  considering  the  increasing  focus  on  Western
Australia.   The   board   remains  open  to  joint  ventures  or  risk  sharing
opportunities  with local investors  as they arise,  with an aim  of adding both
local expertise and extra funding for any or all of our projects.

The  wider context for gold exploration  remains very positive. The fragility of
the   financial  climate  and  patchy  global  recovery  has  kept  gold  prices
underpinned  at nominal  US dollar  prices not  seen for  a generation. Gold has
risen  back above $1,100 per ounce and  is fulfilling its traditional role as an
inflationary   hedge   as   well  as  providing  portfolio  diversification  for
institutional investors, central bank and retail investors.

We  would  encourage  shareholders,  potential  investors  and  other interested
parties       to       review      our      website      atwww.greatlandgold.com
<

http://www.greatlandgold.com/>  for further details on our projects in Tasmania
and Western Australia.


Callum N Baxter
Managing Director
9 March 2010


Group income statement


                                  6 months to       6 months to      Year ended
                                  31 December       31 December    30 June 2009
                                         2009              2008

                                    Unaudited         Unaudited         Audited
                                            £                 £               £

 Turnover                                   -                 -               -



 Exploration costs                  (262,250)         (129,819)       (192,422)

 Administrative expenses            (108,450)         (112,462)       (201,958)


 Currency gain/(loss)                (13,909)            10,928           (225)

                             ----------------- ----------------- ---------------
 Operating loss                     (384,609)         (231,353)       (394,605)


 Interest receivable                    1,748            33,176          38,502

                             ----------------- ----------------- ---------------
 Loss on ordinary activities        (382,861)         (198,177)       (356,103)
 before taxation


 Tax   on  loss  on  ordinary               -                 -               -
 activities

                             ----------------- ----------------- ---------------
 Loss   for   the   financial       (382,861)         (198,177)       (356,103)
 period

                             ----------------- ----------------- ---------------


 Loss      per
 share-    see                   (0.16) pence      (0.10) pence    (0.18) pence
 note 3
 Basic

                             ----------------- ----------------- ---------------

Group balance sheet


                            31 December 2009   31 December 2008    30 June 2009

                                   Unaudited          Unaudited         Audited
                                           £                  £               £


 Assets

 Non-current assets

 Tangible assets                       5,465              4,828           4,749
 Intangible assets                   563,008            490,809         525,372

                           ------------------ ------------------ ---------------
 Total non-current assets            568,473            495,637         530,121

                           ------------------ ------------------ ---------------
 Current assets
 Cash and cash equivalents         1,433,786          1,663,417       1,779,720
 Trade       and      other           51,869             40,816          50,073
 receivables                          37,547             67,978          34,709
 Available     for     sale
 financial   assets  -  see
 note 4

                           ------------------ ------------------ ---------------
 Total current assets              1,523,202          1,772,211       1,864,502

                           ------------------ ------------------ ---------------
 Total assets                      2,091,675          2,267,848       2,394,623
                           ------------------ ------------------ ---------------
 Liabilities

 Current liabilities

 Trade and other payables          (109,411)           (64,651)        (83,750)

                           ------------------ ------------------ ---------------
 Total liabilities                 (109,411)           (64,651)        (83,750)

                           ------------------ ------------------ ---------------
 Net assets                        1,982,264          2,203,197       2,310,873

                           ------------------ ------------------ ---------------


 Equity
 Called up share capital             239,550            196,550         239,550
 Share premium reserve             3,198,471          2,955,521       3,198,471
 Share option reserve                 74,443             74,443          74,443
 Retained losses                 (1,779,377)        (1,192,044)     (1,396,516)
 Other reserves                      249,177            168,727         194,925

                           ------------------ ----------------------------------
 Total equity                      1,982,264          2,203,197       2,310,873

                           ------------------ ----------------------------------



Group cash flow statement


                                 6 months to        6 months to      Year ended
                                 31 December        31 December    30 June 2009
                                        2009               2008

                                   Unaudited          Unaudited         Audited
                                           £                  £               £


 Cash  flow  from operating
 activities

 Operating loss                    (384,609)          (231,353)       (394,605)

 (Increase) in debtors               (1,796)             23,578          14,321

 Increase in creditors                25,661           (33,331)        (14,232)

 Depreciation                              -              1,292           1,913

 Currency adjustments                 13,062              3,766             225
                           ------------------ ------------------ ---------------
 Cash      outflow     from        (347,682)          (236,048)       (392,378)
 operations
                           ------------------ ------------------ ---------------

 Cash flows from investing
 activities

 Interest received                     1,748             33,176          38,502
 Purchase   of   intangible                -                  -        (28,922)
 assets                                    -                  -           (409)
 Purchase    of    tangible
 assets
                           ------------------ ------------------ ---------------
 Net cash flows used in                1,748             33,176           9,171
 investing activities
                           ------------------ ------------------ ---------------

 Cash inflows from
 financing activities

 Proceeds from issue of                    -                  -         301,000
 shares                                    -                  -        (15,050)
 Transaction costs of issue
 of shares
                           ------------------ ------------------ ---------------
 Net cash flows from                       -                  -         289,950
 financing activities
                           ------------------ ------------------ ---------------

 Net (decrease)/increase in        (345,934)          (202,872)        (97,257)
 cash and cash equivalents
 Cash  and cash equivalents        1,779,720          1,866,289       1,866,289
 at the beginning of period
 Exchange gain on cash and                                               10,688
 cash equivalents
                           ------------------ ------------------ ---------------
 Cash  and cash equivalents        1,433,786          1,663,417       1,779,720
 at end of period
                           ------------------ ------------------ ---------------




Statements of changes in equity


                                        Share
              Called up       Share     based
                  share     premium payment        Retained     Other
                capital     account   reserve      earnings  reserves     Total

 Group                £           £         £             £         £         £

 As at 1 July
 2008           196,550   2,955,521    74,443     (993,867)   195,482 2,428,129

 Share
 capital
 issued          43,000     258,000         -             -         -   301,000

 Cost of
 share issue          -    (15,050)         -             -         -  (15,050)

 Loss for the
 period               -           -         -     (356,103)         - (356,103)

 Net
 unrealised
 losses
 recognised
 directly to
 equity               -           -         -             -  (62,475)  (62,475)

 Unrealised
 foreign
 currency
 gains                -           -         -             -    15,372    15,372
             -------------------------------------------------------------------
 As at 30
 June 2009      239,550   3,198,471    74,443   (1,396,516)   194,925 2,310,873



 Share capital issued          -         -      -           -       -         -

 Cost of share issue           -         -      -           -       -         -

 Loss for the period           -         -      -   (382,861)       - (382,861)

 Net unrealised losses
 on available for sale
 financial assets              -         -      -           - (2,839)   (2,839)

 Unrealised foreign
 currencygains                 -         -      -           -  57,091    57,091
                        --------------------------------------------------------
 As at 31 December 2009  239,550 3,198,471 74,443 (1,779,377) 249,177 1,982,264
                        --------------------------------------------------------


Statements of changes in other reserves


                                                    Available for
                                 Foreign currency          resale
                         Merger       translation       financial   Total other
                        reserve           reserve  assets reserve      reserves

 Group                        £                 £               £             £

 As at 30 June
 2008                   225,000            59,990        (42,962)       242,028

 Net unrealised
 losses on
 financial assets
 available for
 resale                       -                 -        (62,475)      (62,475)

 Unrealised
 foreign currency
 gains                        -            15,372               -        15,372
                 ---------------------------------------------------------------
 As at 30 June
 2009                   225,000            75,362       (105,437)       194,925
                 ---------------------------------------------------------------
 Net unrealised
 losses on
 financial assets
 available for
 resale                       -                 -         (2,839)       (2,839)

 Unrealised
 foreign currency
 gains                        -            57,091               -        57,091
                 ---------------------------------------------------------------
 As at 31
 December 2009          225,000           132,453       (108,276)       249,177
                 ---------------------------------------------------------------

Half-yearly report notes

1. Half-yearly report

This half-yearly report was approved by the Directors on 9 March 2010.

The  information relating to  the six month  periods to 31 December 2008 and 31
December 2009 are unaudited.

The  information  relating  to  the  year  to 30 June 2009 is extracted from the
audited  financial statements of the Company  which have been filed at Companies
House and on which the auditors issued an unqualified audit report.

2. Basis of accounting

The  report has been  prepared using accounting  policies and practices that are
consistent  with those  adopted in  the statutory  financial statements  for the
period   ended  30 June  2009, although  the  information  does  not  constitute
statutory financial statements within the meaning of the Companies Act 2006.

These  half-yearly financial statements consolidate  the financial statements of
the Company and its subsidiary and are prepared in accordance with International
Financial Reporting Standards as adopted for use in the European Union.

The Company and Group will report again for the full year to 30 June 2010.

3. Loss per share


                               6 months to          6 months to      Year ended
                         31 December  2009    31 December  2008    30 June 2009

                                 Unaudited            Unaudited         Audited
                                         £                    £               £



 These     have    been          (382,861)            (198,177)       (356,103)
 calculated  on  a loss
 of:

                       -------------------- -------------------- ---------------

 The  weighted  average        239,550,000          196,550,000     201,262,329
 number  of shares used
 was:

                       -------------------- -------------------- ---------------

 Basic loss per share:        (0.16) pence         (0.10) pence    (0.18) pence
                       -------------------- -------------------- ---------------



4. Available for sale financial assets

As  at 31 December  2009 the Group's  listed company  investments were valued at
£37,547.

Copies of this half-yearly report are available free of charge by application in
writing  to the Company  Secretary at the  Company's registered office, 55 Gower
Street,    London    WC1E    6HQ, or    by   email   to   [e-mail]
<mailto:[e-mail]>.  The report will also  be made available on the
Company's website, www.greatlandgold.com.


End



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