Board Changes and Grant of Options

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Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to provide an update on corporate developments. 

Highlights

·     Gervaise Heddle is appointed as Chief Executive Officer of Greatland Gold and Callum Baxter is appointed as Chief Technical Officer;

·     Gemma Cryan, a geologist with over 15 years industry experience, joins Greatland Gold and is to be appointed as the Company’s new Geology Manager;

·     Greatland Gold announces the grant of 75,000,000 new options to directors and staff representing in aggregate 4.6% of the existing issued share capital of the Company.

Alex Borrelli, Non-Executive Chairman, commented: ‘I am very pleased to announce the appointment of Gervaise Heddle as Chief Executive Officer and Callum Baxter as Chief Technical Officer, and the appointment of Gemma Cryan as Geology Manager.

Gervaise and Callum have been instrumental in the recent successes of the Company, including the delineation of large zones of gold mineralisation at the Company’s 100% owned Ernest Giles project and the successful execution of an agreement to purchase the Havieron gold project in Western Australia.

I am also very pleased to announce that Gemma Cryan will formally join our team at Greatland. Gemma is an outstanding geologist with over 15 years industry experience and she brings both valuable field experience and experience at the corporate level. Gemma holds formal qualifications in geology including BSc Hons in Earth Sciences and is a Non-Executive Director of Starvest plc, an AIM listed natural resources investment company.

Our decision to appoint Gemma to the team reflects the increasing level of exploration activity at Greatland and our expectations that the pace will quicken in 2017 as we advance all five of our major exploration projects and continue to pursue new external opportunities.’

Information on Gervaise Heddle and Callum Baxter

Gervaise Heddle was appointed as an Executive Director of the Company on 18 July 2016, and was previously a Non-Executive Director of the Company. Callum Baxter was appointed as an Executive Director of the Company on 6 April 2016, and has been a director of the Company since it was listed in 2006.

Greatland Gold plc announces the grant of 75,000,000 options to directors and key staff representing in aggregate 4.6% of the existing issued share capital of the Company. Each option has a 6 month vesting period and entitles the holder upon exercise to one ordinary share of 0.1 pence in the capital of the Company (“Ordinary Shares”). All options have a life of three years from the vesting date at an exercise price of 0.28 pence per share. The exercise price represents a 48% premium to the 10 day VWAP of 0.189 pence as at the close of business on Wednesday, 18 January 2017. All options will vest immediately upon a change of control event.

Gervaise Heddle, Chief Executive Officer, and Callum Baxter, Chief Technical Officer, will both receive 28 million options each, Alex Borrelli, Non-Executive Chairman, will receive 14 million options, and Gemma Cryan, Geology Manager, will receive 5 million options.

Following the grant of options to directors, the resultant total directors’ shareholdings are as follows:

Director

Position

Shares Held

% of share capital of the Company

Options Held

Alex Borrelli

Chairman

13,000,000

0.8%

39,000,000

Gervaise Heddle

Chief Executive Officer

3,000,000

0.2%

53,000,000

Callum Baxter*

Chief Technical Officer

24,572,951

1.5%

53,000,000


*Callum Baxter is the Chairman and Chief Executive Officer of Starvest plc. Starvest plc holds 85,333,333 shares of Greatland Gold plc or 5.2% of the share capital of the Company.

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