3 March 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Greatland Gold plc

("Greatland" or "the Company")

Updated Mineral Resource substantially increases Havieron Resource and Reserve

Mineral Resources (including Ore Reserves) increase to 5.5M oz Au and 218kt Cu or 6.5M oz AuEq¹,

an increase of 2.1M oz AuEq¹since the last Mineral Resource update

Probable Ore Reserves now stand at 2.4M oz Au and 109kt Cu or 2.9M oz AuEq¹,

compared to the 1.7M oz AuEq¹in the Initial Ore Reserve estimation

Initial Mineral Resource estimated in the Eastern Breccia

Updated Mineral Resource incorporates an additional 10 months of consistently impressive drilling results since the February 2021 drilling cut-off used for the last Mineral Resource update

Havieron Mineral Resource Update Highlights*

§A 53% increase in total gold content to 5.5M oz Au (6.5M oz AuEq¹)

§A 63% increase in Indicated Mineral Resource gold ounces to 3.1M oz Au

§An Initial Inferred Mineral Resource estimated at the Eastern Breccia

§Mineral Resources include 33Mt @ 3.28 g/t Au and 0.48% Cu (containing 3.5M oz Au and 158kt Cu or 4.2M oz AuEq¹) in the South East Crescent Zone

§Update has been subject to a detailed analysis and review, independently assessed by SRK Consulting and are reported in compliance with JORC (2012) guidelines

Updated Mineral Resource estimate for the Havieron Deposit (100%)^#

Classification	Tonnage	Grade		Metal Content		AuEq1Metal
	Mt	Au (g/t)	Cu (%)	Au (M oz)	Cu (kt)	AuEq (M oz)
Indicated	35	2.8	0.42	3.1	146	3.8
Inferred	57	1.3	0.13	2.4	72	2.7
Total Mineral Resource	92	1.9	0.24	5.5	218	6.5

^#Results are reported to one (gold) and two (copper) significant figures to reflect appropriate precision in the estimate, and this may cause some apparent discrepancies in totals. Results represent 100% of the Mineral Resource for Havieron. Mineral Resources in the Crescent are reported within a A$80 NSR/t shell while Mineral Resources in the Breccias are reported within a A$50 NSR/t shell. Resources are inclusive of Reserves.

* The Updated Mineral Resource Estimates assume selective mining of the South East Crescent Zone and bulk extraction in the Breccias and are reported inside A$80 or A$50 Net Smelter Return/t²("NSR/t") shells respectively.

Havieron Ore Reserve UpdateHighlights

§50% increase in contained gold ounces to 2.4M oz Au (2.9M oz AuEq), including an 86%³conversion of Indicated Mineral Resources to Probable Ore Reserves

§The conversion rate of the South East Crescent Zone reiterates the robust nature of the South East Crescent Zone within the Havieron deposit while providing confidence in the ongoing conversion of further South East Crescent Zone material as drilling continues

§Update has been subject to a detailed analysis and review, independently assessed by SRK Consulting and are reported in compliance with JORC (2012) guidelines

Updated Ore Reserve estimate tabulation for the Havieron Deposit (100%)^

	Tonnage	Grade		Metal Content		AuEq1Metal
	Mt	Au (g/t)	Cu (%)	Au (M oz)	Cu (kt)	AuEq (M oz)
Proved	-	-	-	-	-	-
Probable	25	3.0	0.44	2.4	109	2.9
Total Ore Reserve	25	3.0	0.44	2.4	109	2.9

^Data is reported to one (gold) or two (copper) significant figures to reflect appropriate precision in the estimate and this may cause some apparent discrepancies in totals. Data represents 100% of the Ore Reserve for Havieron.Ore Reserves are reported above a cut-off of A$95 NSR/t and reported within mining shapes based on a sub-level open stoping mining method. All reported metal was derived from the South East Crescent Zone only.

Greatland Gold plc (AIM:GGP), a leading mining development and exploration company with a focus on precious and base metals, is pleased to provide an independently assessed update on the Mineral Resources and Ore Reserves at the Havieron gold-copper deposit in the Paterson region of Western Australia. The update is based on increased drill density throughout the deposit with a further 87 drill holes for 59,270m completed since the last Resources and Reserves update published in the Pre-Feasibility Study ("Stage 1 PFS"), which used drill data up to February 2021.

Havieron Growth

§This Resource update is at a 'point in time', with a 2 December 2021 cut-off for drilling information used to inform the Mineral Resource Estimate

§Drilling is ongoing, with extension drilling targeting the South East Crescent Zone at depth, while growth drilling targeting the Eastern Breccia is underway with initial high grade intersections, evidenced by HAD104⁶being comparable to those seen at the South East Crescent Zone, demonstrating a promising start

§Drilling is also underway to continue to assess the broader Havieron breccia system's suitability for a bulk mining approach

§Concurrent studies underway to assess production rates greater than 3 million tonnes per annum ("Mtpa")

§Targeting a further 40,000m of growth drilling in the year to 30 June 2022 which has the potential to further expand the Havieron resource

Shaun Day, Chief Executive Officer of GreatlandGold plc, commented:"This Mineral Resource and Ore Reserve update represents a considerable increase on that which was defined in the Stage 1 PFS. The update has unearthed further aspects of the Havieron system and validates that Havieron is a world class deposit with significant growth potential. Through an independently verified analysis, the total Mineral Resource at Havieron has increased to 6.5M oz of gold equivalent, an increase of almost 50% in 10 months of drilling.

The exceptional 86% rate of conversion of Mineral Resources to Ore Reserves demonstrates the quality of the high grade South East Crescent Zone at Havieron.

The South East Crescent Zone Mineral Resource is now defined to around 1,000m vertical extent below the Permian and still open at depth. In addition, high grade intercepts are delineated below this level, which further supports the potential for future Mineral Resource and Ore Reserve growth.

In addition to the Mineral Resources within the Havieron Breccia complex, growth drilling has now defined an initial Mineral Resource within the separate Eastern Breccia complex. This is the first Mineral Resource in a mineralised systemoutside theHavieron Breccia system and remains open at depth and to the south. This Eastern Breccia Mineral Resource does not capture the recent high grade intercepts to its south, which is of similar grade to the South East Crescent Zone.

With an ongoing and substantial expansion drilling campaign continuing, there is every opportunity to deliver more growth to the Mineral Resource and Ore Reserve as we continue to better understand the extent of mineralisation across the broader Havieron zonation.

The investment proposition for Greatland remains compelling, with this further understanding of the quality and scale of Havieron supported by this new Mineral Resource update. With Havieron in a Tier One mining jurisdiction, under development with a major partner in Newcrest, located near existing infrastructure and a study indicating modest capex and low operating cost, this confluence of factors position Havieron as a tremendous and globally unique asset."

Company's updated Mineral Resource and Ore Reserve estimate

Mineral Resource and Ore Reserve estimates are expressions of judgement based on knowledge, experience and industry practice. They are also based on a number of material assumptions (such as future commodity prices and foreign exchange, cut off grades, future capital and operating costs and development timeline) which may prove to be incorrect. Estimates which were valid when originally made may alter significantly when new information or techniques becomes available. In addition, by their very nature, Mineral Resource and Ore Reserve estimates are imprecise and depend to some extent on interpretations, which may prove to be inaccurate. Unless and until actually mined and processed, no assurance can be given that any estimated tonnage, grades and recovery levels will be realised or that any Ore Reserves will be mined or processed economically.

This announcement and the updated Mineral Resource and updated Ore Reserve estimates for the Havieron Projectcontainedin ithave been prepared solely by Greatland based on relevant available information and has not been reviewed by Newcrest Mining Limited ("Newcrest"). A subsidiary of Newcrest is the manager of the Havieron Joint Ventureand holds the majority participating interest in that joint venture (currently 60% with an entitlement (subject to the terms of the Joint Venture Agreement) to an additional 10% interest and an option to acquire a further 5% interest at fair market value). Whilst the information in this announcement pertaining to the estimation and reporting of Mineral Resources and Ore Reserves has been reviewed and approved by relevant Competent Persons⁴and the updated Mineral Resource and updated Ore Reserve estimates have been independently assessed by SRK Consulting (Australasia) Pty Ltd5,the Company considers that it is possible that: (i) in preparing any future resource and reserve estimates for the Havieron Project, Newcrest may adopt different interpretations, assumptions, parameters or plans, or make different judgements, to those used or made by Greatland in the updated Mineral Resource and Updated Ore Reserve estimates contained in this announcement and (ii) the Havieron Joint Venture may choose to carry out its operations (including the development of the Havieron Project) in a manner different to the assumptions used in the updated Mineral Resource and updated Ore Reserve estimates contained in this announcement.

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Greatland operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Greatland's business and operations in the future. Greatland does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Greatland. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Greatland does not undertake any obligation to update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.

Greatland Gold issues a revised estimate for Havieron