Half-yearly Report

Greatland Gold PLC 13 March 2007 GREATLAND GOLD PLC Half-yearly Report to 31 December 2006 Dated: 13 March 2007 Greatland Gold plc (the 'Company') the mineral exploration and development company focused on gold projects in Tasmania and Western Australia announced today its half-yearly results for the period ended 31 December 2006. Managing Directors statement The period has been an exciting and active time for your Company. It has achieved many milestones and continues to move forward on many fronts. Most importantly, exploration activities have yielded many positive results. In Australia an operational base was established close to the work areas. This has proved a positive move that supports field activities on a daily basis. And in London an administrative hub was created to provide for the needs of the investor and the Company. Spending during the period was at budgeted levels and commensurate with the positive exploration results. Your Company is focussed on growth. It makes use of the low cost - high reward phase of mineral exploration and development. The projects are located close to many world-class base metal deposits and other large gold deposits. All of the projects are 100% owned by Greatland, and were either previously operated by major mining companies, or are located adjacent to projects run by some of the largest mining companies in the world. The projects are situated in an area where there is high-grade gold and base metal mineralisation. The location is close, and geology similar to large deposits nearby. Greatland is an energetic company focussed on growth and recently announced drill results were good. Further news will be release shortly. Australia has all the advantages of a stable economic climate, established infrastructure and skilled mining workforce. These points are key when it comes to exploring and successfully mining deposits. The board members are experienced in both the mining and finance sectors and are fully committed to the company's growth strategies. Your Company has a good mix of exciting projects, technical talent, promotional experience, financing capacity and corporate ability. We look forward to the year ahead. Callum N Baxter Managing Director 13 March 2007 Group income statement 6 months to Period 31 December 2006 16 November 2005 to 30 June 2006 Unaudited Audited £ £ Turnover 6,212 - Exploration costs (127,826) - Administrative expenses (145,568) (27,743) Currency gain/(loss) (2,517) - Operating loss (269,699) (27,743) Interest receivable 14,628 131 Loss on ordinary activities before taxation (255,071) (27,612) Tax on loss on ordinary activities - - Loss for the financial period (255,071) (27,612) Retained loss for the period (255,071) (27,612) Loss per share - see note 3 Basic (0.24) pence (0.23) pence Group balance sheet 31 December 2006 30 June 2006 Unaudited Audited £ £ Assets Non-current assets Exploration properties 423,212 291,379 Plant & equipment 13,258 - Total non-current assets 436,470 291,379 Current assets Cash and cash equivalents 758,112 1,318,648 Current asset investments - see note 4 112,944 - Trade and other receivables 78,871 33,897 Total current assets 949,927 1,352,545 Total assets 1,386,397 1,643,924 Liabilities Current liabilities Trade and other payables (99,315) (224,458) Total liabilities (99,315) (224,458) Net assets £1,287,082 £1,419,466 Equity Called up share capital 106,550 100,550 Share premium reserve 1,224,771 1,108,084 Retained losses (282,683) (27,612) Other reserves 238,444 238,444 Equity shareholders' funds £1,287,082 £1,419,466 Group cash flow statement 6 months to Period 31 December 2006 16 November 2005 to 30 June 2006 Unaudited Audited £ £ Cash flow from operating activities Operating loss (269,699) (27,743) (Increase) in debtors (44,974) (23,100) Increase (decrease) in creditors (125,143) 174,142 (Increase) in current asset investments (112,944) - Cash generated from operations (552,760) 123,299 Cash flows from investing activities Interest received 14,628 131 Purchase of tangible assets (13,258) - Purchase of intangible assets (131,833) (590) Net cash flows used in investing activities (130,463) (459) Acquisitions and disposals Cash acquired with subsidiary acquisition - 12,174 Net cash inflow from acquisitions and disposals - 12,174 Cash inflows from financing activities Proceeds from issue of shares 120,000 1,411,000 Transaction costs of issue of shares 2,687 (227,366) Net cash flows from financing activities 122,687 1,183,634 Net increase in cash and cash equivalents (560,536) 1,318,648 Cash and cash equivalents at the beginning of 1,318,648 - period Cash and cash equivalents at end of period 758,112 1,318,648 Movement on equity shareholders' funds 6 months to Period 31 December 16 November 2006 2005 to 30 June 2006 Unaudited Audited £ £ Loss for the period (255,071) (27,612) Proceeds of share issues 120,000 1,661,000 Share issue expenses 2,687 (227,366) Foreign currency translation reserve - 13,444 Net (decrease) increase in shareholders' funds (132,384) 1,419,466 Opening equity shareholders' funds 1,419,466 - Closing equity shareholders' funds 1,287,082 1,419,466 Half-yearly report notes 1. Half-yearly report This half-yearly report was approved by the Directors on 9 March 2007. The information relating to the six month period to 31 December 2006 is unaudited. The information relating to the period 15 November 2005 to 30 June 2006 is extracted from the audited accounts of the Company which have been filed at Companies House and on which the auditors issued an unqualified audit report. 2. Basis of accounting The report has been prepared using accounting policies and practices that are consistent with those adopted in the statutory accounts for the period ended 30 June 2006, although the information does not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. These half-yearly financial statements consolidate the financial statements of the Company and its subsidiary. The Company and Group will report again for the full year to 30 June 2007. 3. Loss per share 6 months to Period 31 December 2006 16 November 2005 to 30 June 2006 Unaudited Audited £ £ These have been calculated on a loss of: (255,071) (27,612) The weighted average number of shares used was: 104,272,826 12,000,886 Basic loss per share: (0.24) pence (0.23) pence 4. Current asset investments The Group's investment in Sunvest Corporation Limited was valued at £134,309.00 as at 31 December 2006, the value based on the mid market quotation of AUD1.20 and exchange rate of £1.00:AUD2.48 at the close of business on that date. Copies of this half-yearly report are available free of charge by application in writing to the Company Secretary at the Company's registered office, 55 Gower Street, London WC1E 6HQ, or by email to info@greatlandgold.com. Enquiries: Callum Baxter +44 (0)20 7099 5845 Greatland Gold plc Managing Director John Simpson +44 (0)20 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Updates on the Company's activities are regularly posted on its website www.greatlandgold.com This information is provided by RNS The company news service from the London Stock Exchange END IR BSGDXUUBGGRD

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