REG - Gunsynd PLC - Barb Gold Project Update & Issue of Equity

GunsyndAnnouncement

05/02/2026 10:30

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RNS Number : 8962R  Gunsynd PLC  05 February 2026

Gunsynd PLC

("Gunsynd" or the "Company")

Barb Gold Project Update

Barb Gold Project Expansion and Target Development Update

Issue of Equity

Gunsynd PLC (AIM: GUN) is pleased to announce that, further to the
announcement on 12 January 2026, the Company has completed the acquisition of
the Lotus 1, Lotus 2 and Brook mineral claims, which host historic shafts, and
the Denver claim, which hosts a historic gold showing, all located within the
Company's 100%-owned Barb Gold Project in Manitoba, Canada (the
"Acquisition").

The newly acquired claims are contiguous with the existing Barb Gold Project
and consolidate highly prospective ground within a structurally complex
portion of the Archean Rice Lake Greenstone Belt.

 Figure 1. New claims highlighted in green.

 

 

The addition of these claims strengthens the Company's land position across
key structural trends and provides multiple high-priority targets for
follow-up exploration, including the historically mapped Lotus, North, Cross,
Ling and Wasp quartz veins. The historic workings, combined with geophysical
responses and surface geochemical results from the broader property, suggest
potential for structurally controlled gold mineralisation typical of the Rice
Lake Greenstone Belt.

 Claim Name         Hectares
 Lotus 1            15.820 ha
 Lotus 2            51.805 ha
 Denver 1           16.309 ha
 Brook (aka Betty)  16.837 ha

 

Recent, high-resolution airborne magnetic survey data indicates that the Lotus
and Denver showings coincide with interpreted structural corridors considered
favourable for gold mineralisation. These structural features are interpreted
as shear zones and lithological contacts that may have acted as conduits for
mineralising fluids.

Previous sampling from the new claims includes:

 

 Sample ID  Rock Type             Description                                                                     FA-AA               FA-GRA

Au (ppb)

                                                                                                                                      Au (g/t)
 LM-001     LM Qtz Vein Rubble    Grab sample from blast pile, close to Lotus Mine. Rubble from quartz vein       > 10000             79.8
                                  consists of smoky grey quartz, trace chlorite, 1% pyrite, trace arsenopyrite,
                                  and trace very fine-grained gold. All pieces in sample have VG.
 LM-002     LM ser alt host rock  Grab sample from blast pile at Lotus Mine. Consists of sericite altered host    1190        1.19
                                  rock at margins of Lotus vein. Mainly sericite altered host, 10% quartz vein,
                                  1-3% fine grained patchy pyrite, and trace very fine grained silvery grey
                                  sulphides.
 LM-003     LM Qtz Vein Rubble    Grab samples of Lotus Mine quartz vein from 1m sized waste rock. Sample         > 10000     29.5
                                  consists of white, vitreous quartz, fuchsite, tourmaline bands, altered
                                  sericite host xenoliths, and trace fine-medium grained pyrite.
 BT001      Mine Waste            Betty Shaft mine waste contained malachite and possibly azurite. Sulphide       3060                3.06
                                  percentage is ~2-5% and comprises pyrite and arsenopyrite.

 

Figure 2. iView (interpreter's view) of the Barb exMAG. Note: that the RMI
defines lithological boundaries well and the black and white 2vd defines
structures well. The iView1 as a hybrid aims to present these details from
both images in a single view.  Note new claims are in black.

Planned Work Programme

To advance drill target generation, Gunsynd plans to conduct an Induced
Polarisation (IP) survey across priority areas encompassing the Lotus and
Denver claims, as well as selected targets on the existing Barb Gold Project.
The IP survey is intended to identify chargeability and resistivity anomalies
associated with sulphide-bearing structures within quartz-carbonate vein
systems, and to refine diamond drill hole targeting.  In parallel, the
Company has initiated discussions with the local First Nation community
regarding planned exploration activities and looks forward to building a
positive and collaborative relationship.

Next Steps

·      Completion of IP geophysical surveys over priority targets

·      Integration of IP, magnetic, geological, and geochemical datasets

·      Finalising priority drill targets and advancing diamond drilling
permitting

Consideration and Issue of Creditor Shares

Pursuant to the terms of the Property Purchase agreement, the Company has made
a cash payment of approximately £135,000 to the Vendor and issued to a third
party associated with the Acquisition 11,654,783 new ordinary shares of 0.085
pence ("Ordinary Shares") at a price of 0.115 pence per share (the
"Consideration Shares").

The Company has also issued 11,304,346 new Ordinary Shares at a price of 0.115
pence per share to an outstanding creditor to settle existing liabilities
("Creditor Shares").

Admission

Application will be made to the London Stock Exchange for the admission of
the aggregate 22,959,129 Consideration Shares and Creditor Shares to trading
on AIM ("Admission").  Admission is expected to occur on or around 11
February 2026. The new Ordinary Shares will rank pari passu with the
existing ordinary shares.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules, following
Admission, the Company's issued share capital will comprise 1,615,598,332
ordinary shares of 0.085 pence each. This figure may be used by shareholders
as the denominator for calculations to determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the Disclosure and Transparency Rules.

 

Hamish Harris, Executive Chairman of Gunsynd, commented:

"The acquisition of the Lotus, Betty, and Denver claims adds important
historic gold occurrences within a highly prospective structural setting. When
combined with our recent geophysical results, these targets further enhance
the drill potential of the Barb Project.  The shear zone running through the
claims not only provides us with confidence moving forward but also emphasises
why we are so pleased to have been able to acquire these recent claims, not
least Lotus 1 and 2, which as can be seen from Figure 3, sit right on top of
the structural corridor.

We look forward to advancing these targets through IP surveys and continued
engagement with local communities as we move toward drilling."

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

This announcement contains inside information for the purposes of
the UK Market Abuse Regulation and the Directors of the Company are
responsible for the release of this announcement.

Qualified Person

The technical information contained in this disclosure has been reviewed and
approved by Aaryn Hutchins, P. Geo., a Professional Geoscientist registered
with Engineers Geoscientists Manitoba. Ms. Hutchins has sufficient
experience, relevant to the styles of mineralization and types of deposits
under consideration, to qualify as a Qualified Person as defined by the AIM
Note for Mining, Oil and Gas Companies.

For further information, please contact:

 Gunsynd plc                   +44 (0)20 3582 6636

 Hamish Harris

 Cairn Financial Advisers LLP  +44 (0)20 7213 0880

 Liam Murray / James Western

 AlbR Capital Limited          +44 (0)20 7469 0936

 Lucy Williams

 

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