REG - Gunsynd PLC - Gold Project Updates & Issue of Equity

GunsyndAnnouncement

19/12/2025 13:30

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RNS Number : 3318M  Gunsynd PLC  19 December 2025

Gunsynd PLC

("Gunsynd" or the "Company")

Eagle Lake and Barb Gold Project Updates

Issue of Equity

Gunsynd (AIM: GUN) announces that further to the announcement on 19 November
2025, the Company has entered into a sale and purchase agreement  ("SPA")
with Ulvestone Ltd ("the Vendor") with respect to acquiring a 10% interest in
the Eagle Lake Gold Project in Canada. The terms of the SPA are the same as
the terms announced on 19 November 2025.

As announced on 9 December 2025, work has commenced on historic data
compilation and digitisation is ongoing to define high-priority drill targets
for a maiden drill program.  The Company has been informed the database
compilation is almost complete and that a drill permit application has been
submitted to the Ontario Ministry of Mines.

Gunsynd notes the announcement by Medcaw Investments plc of a proposed
transaction to purchase from the Vendor a 90% legal and beneficial interest in
the Eagle Lake Gold Project for an aggregate consideration payable in cash and
shares of £4.17 million.

Barb Update

Gunsynd expects to receive from Critical Discoveries an assessment report on
the Barb Gold Project next week including the multi element assay results as
noted in the announcement on 28 October 2025.

Equity Payments

Gunsynd will issue to the Vendor of the Eagle Lake Gold Project 32,258,065 new
ordinary shares of 0.085 pence ("Ordinary Shares") at a price of 0.155 pence
per share.

In addition, Gunsynd will issue 10,096,103 new Ordinary Shares at a price of
0.1508 pence per share to the Critical Discoveries in line with the second
tranche payment due under the Barb Gold Project agreement.

Application will be made to the London Stock Exchange to admit 42,354,168 new
Ordinary Shares to trading on AIM ("Admission"). Admission is expected to
occur on or around 24 December 2025. 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 1,542,639,203
ordinary shares of 0.085p 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.

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.

For further information please contact:

 Hamish Harris, Chairman commented: "The Eagle Lake Gold Project continues to
be advanced.  To have achieved so much in a month not least an upgrade in
valuation is pleasing.  We look forward to providing further updates in the
new year."

 Gunsynd plc

 Hamish Harris                                +44 (0)7879 584 153

  www.gunsynd.com (http://www.gunsynd.com)

 Cairn Financial Advisers LLP

 Liam Murray / James Western                  +44 (0)20 7213 0880

 AlbR Capital Limited

 Lucy Williams                                +44 (0)20 7469 0936

 

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