Greatland Gold PLC Commencement of underground decline at Havieron (3501Y)

TIDMGGP

RNS Number : 3501Y

Greatland Gold PLC

12 May 2021

12 May 2021

Greatland Gold plc

( " Greatland " or "the Company " )

Commencement of underground decline access at Havieron

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce commencement of the underground decline at the Havieron Gold-Copper Project .

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: "This is a momentous step in the development of Havieron as a world-class gold-copper mine. I am delighted by progress on site and this fast-tracked milestone is indicative of the potential scale of the deposit and the opportunity seen by our partners Newcrest.

By providing access to the top of the orebody, the decline sets Havieron on course to become a large, multi-commodity, bulk tonnage, underground mining operation. Alongside the ongoing growth drilling, the next key milestone will see the completion of a Pre-Feasibility Study and we are on track to deliver this in the second half of 2021."

The commencement of the decline by Newcrest Mining Limited ("Newcrest"), as Manager of the Joint Venture, follows receipt of the necessary regulatory approvals to commence construction activities (as announced on 29 December 2020).

Enquiries:

Greatland Gold PLC

Shaun Day/Callum Baxter

Tel: [phone]

Email: [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: [phone]

Berenberg (Joint Corporate Broker and Financial Adviser)

Matthew Armitt/Jennifer Wyllie/Detlir Elezi

Tel: [phone]

Canaccord Genuity (Joint Corporate Broker and Financial Adviser)

James Asensio/ Patrick Dolaghan

Tel: [phone]

Hannam & Partners (Joint Corporate Broker and Financial Adviser)

Andrew Chubb/Matt Hasson/Jay Ashfield

Tel: [phone]

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel: [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: [phone]

Notes for Editors:

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals.

The Company's flagship asset is the world class Havieron gold-copper deposit in the Paterson region of Western Australia. This asset is held in joint venture with Newcrest Mining Ltd. Havieron is located approximately 45km east of Newcrest's Telfer gold mine, processing plant and existing infrastructure.

Commencement of the decline to develop the Havieron orebody commenced in May 2021. In addition, a substantial ongoing growth drilling programme is presently underway at Havieron which is being undertaken in conjunction with the preparation of a Pre-Feasibility Study ("PFS"). The PFS is expected to be released in late calendar 2021.

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

The Company is actively investigating a range of new opportunities in Australia for precious and strategic metals.

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May 12, 2021 02:46 ET (06:46 GMT)