Final Results

Greatland Gold plc

        Final audited results for the year ended 30 June 2009

Greatland  Gold  plc  ("Greatland"  or  the  "Company")  the  mineral
exploration and  development  company  focused on  gold  projects  in
Tasmania and  Western Australia  announced  today its  final  audited
results for the period ended 30 June 2009.

Chairman's Statement

Dear Shareholders

We can be proud of our achievements in the 12 months to 30 June 2009,
during what  was a  tumultuous period  for businesses  and the  world
economy.

Throughout this challenging period  for AIM listed junior  explorers,
we  have  been   faithful  to   our  objectives   by  improving   our
understanding of  our properties,  adding new  licence interests  and
positioning Greatland to take advantage of new opportunities.

There has been  a significant change  of activity level  in both  new
investment additions and work on  the ground. Greatland expanded  its
licence interests  from  three  to  five  whilst  adding  significant
acreage to its  Firetower licence.  The  Company has accelerated  its
operational activities, completing soil sampling at both  Warrentinna
and Firetower and  identifying key targets  in preparation for  drill
programmes that will commence later in 2009.

Our extensive preparatory work at both Warrentinna and Firetower  has
worked well in sorting the strong  prospects from the weak ones.   We
are pursuing a drill programme at Anomaly 1 after strong results.

Following the grant of the Lackman Rock licence a sampling  programme
is planned  in an  area  that has  seen  no previous  precious  metal
exploration.  A  similar  programme  is planned  at  the  East  Lisle
licence which was acquired in August 2008.

Post the  accounting  period the  team  have added  an  exciting  new
property  at   Ernest   Giles   that   presents   both   considerable
opportunities  and  challenges.   I  am  confident  the  very  strong
geological features of this prospect could add value to the Greatland
portfolio in Western Australia.  I look forward to the team  starting
operations at Ernest Giles during the next 12 months.

Broadly, at  the end  of  June 2009  our  focus shifted  to  drilling
programmes on our best targets at Firetower and Warrentinna.  We also
plan further preparatory work at Lackman Rock and Ernest Giles, which
will mark a  formal start  to survey work  on the  ground in  Western
Australia.

Throughout  the  financial  year,   we  have  ensured  Greatland   is
adequately capitalised and that shareholders are not running the risk
of the Company suddenly  being caught short of  funds at a time  when
raising  finance  remains  challenging.  I  believe  that  many   AIM
companies went  into  this financial  crisis  with the  premise  that
shareholders could be tapped indefinitely and funding would always be
available. The reality has proved otherwise.  As such we have  always
been careful not to take on commitments that are beyond the Company's
means as well as maintaining our customary budgetary discipline.

The board is convinced  of our policy of  the careful application  of
capital towards  our  portfolio is  a  prerequisite in  these  times.
Greatland continues to hold significant  cash relative to our  market
capitalisation.  The fact the board was also able raise funds in  May
2009 is an important endorsement by investors of our approach.

During the  2009  financial  year Greatland  Gold  placed  43,000,000
ordinary shares raising £301,000 before expenses. At the end of  June
2009 Greatland Gold  had 239,550,000 ordinary  shares with  6,000,000
options outstanding.  Our current  cash  levels provide  funding  for
foreseeable expenses throughout 2010.

Outlook

The Directors believe Greatland's portfolio combines near surface and
deeper prospects with attractive geological features in safe
locations.  The portfolio, in whole or in part, is likely to attract
interested parties looking for joint venture or acquisition
opportunities.  Because some of our licences will naturally cost more
to explore than others, the board is pursuing talks with interested
third parties with a view to one or more collaborations on attractive
terms for Greatland.  Although the timing of concluding such deals
remains uncertain, it is our view that an improving financial climate
and higher gold price will possibly act as a catalyst for joint
venture developments over the remainder of 2009 and 2010.

Closing remarks

I would express my sincere gratitude to our staff and shareholders.
We will continue to provide timely updates as appropriate to the AIM
market and on our website. We also take this opportunity to thank our
professional advisors for their work.

Andrew R. McM. Bell
Chairman
26 October 2009


Managing Director's Review of Operations

In the year to end June 2009 Greatland Gold plc ('Greatland' or  'the
Company') made considerable  progress in pursuit  of its strategy  to
acquire, explore and develop gold prospective properties in  Tasmania
and Western Australia. We are now in a position to commence  drilling
activities at Firetower and Warrentinna in 2009.

It has proved a busy year for Greatland on the acquisition front.  We
have acquired new licence interests at East Lisle in Tasmania, and in
Western Australia we have secured the Lackman Rock, and Ernest  Giles
properties.

The board extended the existing Firetower licence adding new  acreage
at  Beulah  where  we  see  potential  for  adding  significant  gold
resources to our existing JORC inferred gold resource. The  Firetower
project area now covers 265km². We commenced drilling at Firetower in
September 2009.

Overall  our  approach   is  to   obtain  a   clear  definition   and
understanding of our properties to ensure that when we undertake  the
costs and risks  of drilling, that  we do so  with the best  possible
odds of success.

The Company's  portfolio  consists  of a  significant  "pipeline"  of
carefully  sourced  projects,  safely  located  in  Australia   which
certainly on  paper  hold  out  the  prospect  of  strong  geological
fundamentals for precious metal exploration.  We are eager to get  to
work  on  these,  on  our   own  if  necessary,  but  preferably   in
collaboration with local explorers or similar investment entities  in
London.

The Company  currently  owns  five mineral  projects  comprising  ten
mineral licences all located in Australia, the details are  tabulated
below.


PROJECT / Licence Size     Expiry       Remarks on 2009 Progress
                  (sq kms)

FIRETOWER
Firetower         33       26 Nov 2009* Soil Sampling and Diamond
                                        Drilling
Firetower East    29       26 Nov 2009* Soil Sampling and Mapping
Quamby            98       21 Sep 2012  Review of Exploration Data
Beulah            105      23 Jun 2014  Review of Exploration Data

WARRENTINNA
Warrentinna       114      26 Nov 2009* Soil Sampling and RC Drilling
Southern Cross    53       19 Dec 2012  Soil Sampling and Mapping

LISLE
East Lisle        233      13 Jan 2014  Field Reconnaissance Q3 2009

LACKMAN ROCK
Lackman Rock      202      2 Jul 2014   Field Reconnaissance Q4 2009

ERNEST GILES
Peterswald Hill   341      13 May 2014  Field Reconnaissance Q4 2009
Calanchini Hill   346      13 May 2014  Field Reconnaissance Q4 2009


* application for 12 month extension of term of licence to be lodged
October 2009


Exploration activities during the period were ongoing at both
Firetower and Warrentinna. The Company found anomalous levels of gold
mineralisation up to 916ppb in soil samples at Firetower alongside an
outstanding result at Warrentinna finding gold mineralisation up to
20.75g/t at Derby North.

By late summer our planned drilling activities were delayed for by
heavy rains in Tasmania. Drilling operations commenced at Firetower
in September 2009, and are expected to commence at Warrentinna in
November 2009 weather permitting.

Our efforts during the period have been aimed at completing
sufficient preparatory work in the right places so that we can
deliver only the best targets to the next phase, ie drilling
operations.

The short term objective of our drilling plan is to evaluate options
for an open pit operation at Warrentinna whilst adding to our gold
mineralised prospects at Firetower in the hope of proving up a
deposit of sufficient size to attract a larger partner. We also plan
to commence ground operations at East Lisle and in Western Australia
at Lackman Rock and Ernest Giles.

The return of the gold price  to US$1,000 per ounce levels last  seen
in March 2008 is welcome. Gold is perceived as an inflationary  hedge
and, in  addition,  the  price  appears to  be  supported  by  strong
consumer demand.

Despite the challenging investment climate the board secured £301,000
via an equity placing in May 2009. We took the decision to raise new
equity ahead of the drilling programmes which will substantially
increase Greatland's operating expenses over the next two financial
periods, to end June 2010 and end June 2011.

We are proud to have positioned Greatland Gold with sufficient cash,
at the period end of £1.7 million for our foreseeable expenditure
over the forthcoming year and beyond. The recent revival in our share
price is, we feel, a credible endorsement of our approach towards our
well positioned and attractive licence portfolio. We hope the drill
results will confirm significant mineralisation that, with further
work, could add inferred resources of gold.

The board contains a talented team with a diverse skill set that will
serve Greatland well through to the end of 2010.

I would like to also note, and  say a special thank you for the  keen
interest and  support you  have shown  as shareholders.  Please  find
regular updates on our  website and we look  forward to hearing  from
you.

Callum N Baxter
Managing Director
26 October 2009


Results and dividends

The  Group's  results  are  described  in  the  Consolidated   Income
Statement below, extracted from the audited financial statements  for
the year ended 30 June 2009.

The  Group   has  incurred   a  loss   for  the   year  of   £356,103
 (2008: £451,475).

The Directors do not recommend the payment of a dividend.


Consolidated income statement
For the year ended 30 June 2009


                                      Year ended        Year ended
                                     30 June 2009      30 June 2008

                                                £                 £
Revenue                                         -                 -
Exploration costs                       (192,422)         (326,806)
Administrative expenses                 (201,958)         (210,725)
Currency (loss)/profit                      (225)             1,613
Operating loss                          (394,605)         (535,918)
Interest receivable                        38,502            84,443
Loss from continuing operations         (356,103)         (451,475)
Income tax expense                              -                 -
Retained loss for the period            (356,103)         (451,475)

Attributable to:                        (356,103)         (451,475)
Equity holders of the parent

Loss per share - basic and diluted   (0.18) pence      (0.23) pence



All operations are considered to be continuing.



Consolidated statement of recognised income and expense
For the year ended 30 June 2009


                                           Year ended     Year ended
                                          30 June 2009   30 June 2008

                                                     £              £


Loss on revaluation of available for          (62,475)       (26,936)
sale financial investments
Unrealised foreign currency gains               15,372         46,546
Income and expense recognised directly        (47,103)         19,610
in equity
Loss for the financial period                (356,103)      (451,475)
Total recognised income and expense for      (403,206)      (431,865)
the financial period

Attributable to:
Equity holders of the parent                 (403,206)      (431,865)




Consolidated balance sheet
As at 30 June 2009


                              30 June 2009          30 June 2008
                                    £         £           £         £
ASSETS
Non-current assets
Tangible assets                 4,749                 6,265
Intangible assets             525,372               493,016
                                        530,121               499,281
Current assets
Cash      and      cash     1,779,720             1,866,289
equivalents                    50,073                64,394
Trade     and     other        34,709                96,147
receivables
Available for sale
financial assets
Total current assets                  1,864,502             2,026,830
TOTAL ASSETS                          2,394,623             2,526,111
LIABILITIES
Current liabilities
Trade and other              (83,750)              (97,982)
payables
TOTAL LIABILITIES                      (83,750)              (97,982)
NET ASSETS                            2,310,873             2,428,129

EQUITY
Called-up share capital       239,550               196,550
Share premium reserve       3,198,471             2,955,521
Share   based   payment        74,443                74,443
reserve                   (1,396,516)           (1,040,413)
Retained earnings
Other reserves                194,925               242,028

TOTAL EQUITY                          2,310,873             2,428,129






Consolidated statement of changes in equity
For the year ended 30 June 2009


             Share     Share     Share    Retained    Other     Total
           capital   premium     based    earnings reserves
                     account payment
                               reserve
                 £         £         £           £        £         £
As at 30   146,550 1,936,771    74,443   (588,938)  222,418 1,791,244
June 2007
Changes in
equity for
2008
Share       50,000 1,075,000         -           -        - 1,125,000
capital
issued
Cost of          -  (56,250)         -           -        -  (56,250)
share
issue
Loss for         -         -         -   (451,475)        - (451,475)
the period
Net              -         -         -           - (26,936)  (26,936)
unrealised
losses
recognised
directly
to equity
Unrealised       -         -         -           -   46,546    46,546
foreign
currency
gains
As at 30   196,550 2,955,521    74,443 (1,040,413)  242,028 2,428,129
June 2008

Share       43,000   258,000         -           -        -   301,000
capital
issued
Cost of          -  (15,050)         -           -        -  (15,050)
share
issue
Loss for         -         -         -   (356,103)        - (356,103)
the period
Net              -         -         -           - (62,475)  (62,475)
unrealised
losses
recognised
directly
to equity
Unrealised       -         -         -           -   15,372    15,372
foreign
currency
gains
As at 30   239,550 3,198,471    74,443 (1,396,516)  194,925 2,310,873
June 2009



Other reserves              Merger     Foreign Available for    Total
                           reserve    currency          sale    other
                                   translation     financial reserves
                                       reserve        assets
                                                     reserve
                                 £           £             £        £
As at 30 June 2007         225,000      13,444      (16,026)  222,418
Available for sale               -           -      (26,936) (26,936)
investments - valuation
losses taken to equity
Unrealised foreign               -      46,546             -   46,546
currency gains
As at 30 June 2008         225,000      59,990      (42,962)  242,028

Available for sale               -           -      (62,475) (62,475)
investments - valuation
losses taken to equity
Unrealised foreign               -      15,372             -   15,372
currency gains
As at 30 June 2009         225,000      75,362     (105,437)  194,925





Company balance sheet
As at 30 June 2009


                                 30 June 2009        30 June 2008
                                      £         £         £         £
ASSETS
Non-current assets
Investment in subsidiary                  250,000             250,000
Current assets
Cash and cash equivalents     1,749,393           1,815,569
Trade and other receivables   1,033,248             876,987
Total Current Assets                    2,782,641           2,692,556
TOTAL ASSETS                            3,032,641           2,942,556
LIABILITIES
Current Liabilities
Trade and other payables       (74,266)            (58,679)
TOTAL LIABILITIES                        (74,266)            (58,679)
NET ASSETS                              2,958,375           2,883,877

EQUITY
Called-up share capital         239,550             196,550
Share premium reserve         3,198,471           2,955,521
Share based payment reserve      74,443              74,443
Merger reserve                  225,000             225,000
Retained earnings             (779,089)           (567,637)

TOTAL EQUITY                            2,958,375           2,883,877




Company statement of changes in equity
For the year ended 30 June 2009



            Called     Share  Share based  Retained  Merger     Total
          up share   premium    payment    earnings reserve
           capital   account      reserve
                 £         £            £         £       £         £
As at 30   146,550 1,936,771       74,443 (358,909) 225,000 2,023,855
June 2007

Share       50,000 1,075,000            -         -       - 1,125,000
capital
issued
Cost of          -  (56,250)            -         -       -  (56,250)
share
issue
Loss for         -         -            - (208,728)       - (208,728)
the year
Share            -         -            -         -       -         -
based
payments
As at 30   196,550 2,955,521       74,443 (567,637) 225,000 2,883,877
June 2008

Share       43,000   258,000            -         -       -   301,000
capital
issued
Cost of          -  (15,050)            -         -       -  (15,050)
share
issue
Loss for         -         -            - (211,452)       - (211,452)
the year
Share            -         -            -         -       -         -
based
payments
As at 30   239,550 3,198,471       74,443 (779,089) 225,000 2,958,375
June 2009





Consolidated cash flow statement
For the year ended 30 June 2009


                                            Year ended     Year ended
                                          30 June 2009   30 June 2008

                                                     £              £

Cash flows from operating activities
Operating loss                               (394,605)      (535,918)
Decrease/(increase) in debtors                  14,321        (3,412)
(Decrease)/increase in creditors              (14,232)          9,878
Depreciation                                     1,913          2,657
Share based payments                                 -              -
Currency adjustments                               225        (1,613)
Net cash outflow from operations             (392,378)      (528,408)
Cash flows from investing activities
Interest received                               38,502         84,443
Payments to acquire intangible assets         (28,922)        (3,944)
Payments to acquire tangible assets              (409)          (718)
Payments to acquire available for sale               -              -
financial assets
Net cash flows used in investing                 9,171         79,781
activities
Cash inflows from financing activities
Proceeds from issue of shares                  301,000      1,125,000
Transaction costs of issue of shares          (15,050)       (56,250)
Net   cash    flows   from    financing        285,950      1,068,750
activities
Net increase/(decrease) in cash and           (97,257)        620,123
cash equivalents
Cash and cash equivalents at the             1,866,289      1,241,211
beginning of period
Exchange gain on cash and cash                  10,688          4,955
equivalents
Cash and  cash  equivalents at  end  of      1,779,720      1,866,289
period





Company cash flow statement
For the year ended 30 June 2009


                                            Year ended     Year ended
                                          30 June 2009   30 June 2008

                                                     £              £

Cash flows from operating activities
Operating loss                               (248,991)      (291,877)
Decrease/(increase) in debtors                  10,415       (48,811)
Increase/(decrease) in creditors                15,587        (1,381)
Net cash outflow from operations             (222,989)      (342,069)
Cash flows from investing activities
Interest received                               37,539         83,149
Loans to subsidiary                          (166,676)      (190,534)
Net cash flows used in investing             (129,137)      (107,385)
activities
Cash inflows from financing activities
Proceeds from issue of shares                  301,000      1,125,000
Transaction costs of issue of shares          (15,050)       (56,250)
Net   cash    flows   from    financing        285,950      1,068,750
activities
Net (decrease)/increase in cash and           (66,176)        619,296
cash equivalents
Cash  and  cash   equivalents  at   the      1,815,569      1,196,273
beginning of period
Cash and  cash  equivalents at  end  of      1,749,393      1,815,569
period




Notes to the Financial Statements for the period ended 30 June 2009


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

2.   Loss per share  is calculated on a  loss on ordinary  activities
after taxation of £356,103 (2008:  Loss £451,475) and on  201,262,239
ordinary shares (2008: 193,262,329) 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 the
Companies Act 2006.   Results for  the year  ended 30  June 2009  are
abridged from the 2009 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 on Friday  6th
November 2009.  Further copies will  be available from the  Company's
registered office: 3rd Floor, 55 Gower  Street, London WC1E 6HQ   for
one  month   from   that  date   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 Wednesday 2nd December 2009 at 11am.



Enquiries:


Callum Baxter   +44 (0)20  Greatland Gold plc               Managing
                7099 5845                               Director

Gerry Beaney or +44 (0)20  Grant Thornton Corporate         Nominated
Colin Aaronson  7383 5100 Finance                       Adviser


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

End

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