Issue of Equity

Greatland Gold PLC
12 September 2006

                              GREATLAND GOLD PLC

                               Issue of Equity



Dated: 12 September 2006



Greatland Gold plc (the 'Company') the mineral exploration and development
company focused on gold projects in Tasmania and Western Australia, has issued
5,000,000 new ordinary shares of 0.1p each in the capital of the Company (the '
Shares'), conditional on the Shares being admitted to trading on AIM.

Sunvest Corporation Limited ('Sunvest') has subscribed for a further 5,000,000
Shares at 2p per Share under the terms of an agreement dated 27 June 2006
between the Company and Sunvest, a company incorporated in Australia and listed
on the Australian Stock Exchange. This agreement was disclosed in the Admission
Document dated 27 June 2006.

Following this subscription, Sunvest holds 10,000,000 Shares in the Company,
which represents approximately 9.5% of the issued share capital of the Company
as enlarged by this transaction.

Following the issue of these Shares the Company's total issued share capital
will be 105,550,000 Shares. Application has been made to the London Stock
Exchange for the Shares to be admitted to trading on AIM. Dealings are expected
to commence at 8.00 a.m. on 18 September 2006.

Enquiries:
Callum Baxter    [phone]  Greatland Gold plc            Managing Director

John Simpson     [phone]  ARM Corporate Finance Ltd     Nominated Adviser




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