Placing of Shares

24 May 2010
 
                               GREATLAND GOLD PLC
 
                               PLACING OF SHARES
 
Greatland  Gold plc ("Greatland" or the  "Company"), the mineral exploration and
development  company focused on gold projects in Tasmania and Western Australia,
is  pleased to announce  that it has  placed 50,000,000 Ordinary Shares of 0.1p
each  in Greatland  at a  price of  1.2p per share  to raise a total of £600,000
before expenses.
 
The  funds raised  will be  used to  provide additional  working capital for the
Company;  making an immediate contribution to  drilling activities at its large,
wholly owned, Ernest Giles gold project in Western Australia.
 
Application  has been made for the admission  to trading on AIM of these shares,
with admission expected to take place on 27 May 2010.
 
Following  the  issue  of  these  shares,  Greatland's  capital  will consist of
289,550,000 ordinary  shares of 0.1p with voting rights. Greatland does not hold
any shares in treasury.
 
Therefore, the total number of voting rights in Greatland is 289,550,000.
 
The  above  figure  may  be  used  by  shareholders  as  the denominator for the
calculations  by which they will determine if  they are required to notify their
interest  in, or  a change  to their  interest in,  the Company  under the FSA's
Disclosure and Transparency Rules.
 
For more information please contact:
 
Greatland Gold plc
Callum Baxter
Tel  +44 (0)20 7099 5845
Email:  info@greatlandgold.com 
www.greatlandgold.com
 
Grant Thornton Corporate Finance
Gerry Beaney / Colin Aaronson
Tel  +44 (0)20 7383 5100
 
[HUG#1418205]