News alert from Greatland Gold plc

12September 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")

Grant of Co-Investment Options and Share Options

PDMR dealing notifications

Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, announces the grant of co-investment options to subscribe for new ordinary shares in the Company to its proposed Directors, Mr Mark Barnaba and Ms Elizabeth Gaines, and to Mr Paul Hallam, an existing Non-Executive Director (together the "Co-Investment Options").

In addition, the Company has also granted Mr James 'Jimmy' Wilson, a newly appointed Executive Director, options to subscribe for 40,000,000 new ordinary shares in the Company under the Company's employee share scheme ("Share Options"). 

Further details of the Co-Investment Options

The Co-Investment Options are a one-off equity incentive package structured to align the interests of the Mr Barnaba, Ms Gaines and Mr Hallam in delivering substantial growth in shareholder value for the benefit of Greatland shareholders.

The Co-Investment Option structure has been designed to create strong and immediate alignment with shareholders to deliver substantial share price growth, with the option exercise price being set at 45 per cent above the equity placement price announced today.

The number of Co-Investment Options granted to Mr Barnaba, Ms Gaines and Mr Hallam is as follows:

^{*Expanded capital calculated on basis of completion of Wyloo share placement and exercise of all Wyloo warrants as announced on 12 September 2022; plus the conversion of all options outlined in this announcement.The gross proceeds from the exercise of all the above Co-Investment Options isc.£23m.}

^{** From 1 January 2023}

The Key Terms of the Co-Investment Options are contained in the following table:

Mr Wilson's 40,000,000 Share Options have been granted on substantively the same terms as the Co-Investment Options.

Related Party Opinion

As Paul Hallam and James Wilson are both existing directors, the granting of theCo-Investment Options andShare Options are considered related party transactions for the purposes of the AIM Rules. The independent directors (being the directors other than Paul Hallam and James Wilson), having consulted with SPARK Advisory Partners Limited, the Company's Nominated Adviser, consider the terms of theCo-Investment Options and Share Optionsto be fair and reasonable insofar as the Company's shareholders are concerned.

The PDMR dealing notifications at the end of this announcement are made in accordance with the requirements of the UK Market Abuse Regulation.

Enquiries:

PDMR dealing notifications

Notes for Editors:

Greatland Gold plc (AIM:GGP) is a mining development and exploration company with a focus onprecious and base metals. The Company's flagship asset is the potentially world class Havieron gold-copper deposit in the Paterson region of Western Australia, discovered by Greatland and presently under development through a joint venture with Newcrest (the "JV"). Newcrest holds a joint venture interest of 70% (30% Greatland).

Havieron is located approximately 45km east of Newcrest's Telfer gold mine and, subject to positive feasibility study anddecision to mine, will leverage the existing infrastructure and processing plant to significantly reduce the project's capital expenditure and carbon impact for a low-risk and low-cost pathway to development.

Construction is well advanced and continuing with thebox cut and decline to develop the Havieron deposit originally commenced in February 2021. An extensive growth drilling programme continues at Havieron with a view to further expanding the understanding and scale of the ore body.

Greatland has a proven track record of discovery and exploration success. It is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. The Company is focused on safe, low-risk jurisdictions and is strategically positioned in the highly prospective Paterson region. Greatland has a total of six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.

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