REG - Wishbone Gold PLC - Red Setter Exploration Update

Wishbone GoldAnnouncement

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RNS Number : 6205K  Wishbone Gold PLC  08 December 2025

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of MAR

 

 

 

 

8 December 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

London AIM & Aquis: WSBN

 

 Red Setter Exploration Update

 

Drilling update and New Access Road Application

 

Wishbone Gold Plc is pleased to provide this update to shareholders on
activities at the Company's Red Setter Gold Dome Project, located 20km
south-west of Greatland Gold Plc's (AIM and ASX: GGP) Telfer gold mine, and
50km east of the Nifty Copper Mine owned by Cyprium Metals Limited (ASX: CYM)
in Western Australia (Figure 1).

 

Highlights

 

·      New ~30km access road between Nifty Copper Mine and Red Setter
applied for.

·      Heritage survey of access road booked for early April.

·      Seven Reverse Circulation holes for a total of 1,509 metres
completed.

·      Six Diamond Drill holes for a total of 3,298.7 metres completed.

·      Last Diamond Drill hole for 300 metres depth underway.

·      Three diamond drill holes have now been processed with assay
results pending.

 

An application for a new access road between the Nifty Copper Mine and the Red
Setter Project has been applied for, with miscellaneous licence L45/872 now in
process for grant early next year. A heritage survey of the new road has also
been booked for the first week of April 2026. This new road once completed, is
over flat ground between sand dunes and logistically far easier to navigate
with heavy trucks. The new road will allow additional services for Wishbone,
and better access to Nifty provides the potential availability of
accommodation, fuel, water and the use of the Nifty all weather airport and
scheduled flights for worker roster changes. This will change the way the
Company has been operating and allow a far simpler exploration drilling
program in 2026. Nifty is only 50km from Red Setter and will act as the new
exploration camp providing considerable cost savings for a bigger 2026 drill
program.

 

In addition, a new Mobile MT survey has been flown over the north-west
extension to Red Setter, with results currently being processed by Expert
Geophysics Limited. The survey also covered two smaller Wishbone tenements
south of Telfer.

 

To date, the 2025 Wishbone drilling campaign includes seven Reverse
Circulation ("RC") holes for a total of 1,509 metres and six Diamond Drill
("DD") holes for a total of 3,298.7 metres. Five of the seven RC holes,
totalling 1,109 metres, were either diamond pre-collars or targeted shallow
extensions of known gold and copper mineralisation. The remaining two RC holes
were for water bores, for a total of 400 metres, with one of the water bores
successfully intersecting the water table securing a reliable water source for
the project. All 1,509 metres of RC samples will be submitted for fire assay
and multi-element assay.

 

The final 300-metre-deep drill hole by the DD rig is underway before a break
for Christmas. Two of the six diamond holes tested a MMT target with the other
four diamond holes targeted extensions of known gold and copper
mineralisation. It is estimated that 2,178 metres of core drilled to date will
be submitted for fire assay and multi-element assay with sample lengths of
~1m, once all drill holes are processed. Three drill holes have been cut and
sampled with assays pending, and a fourth hole to start cutting shortly.

 

Assay results will be released over the next few months, and the plan for 2026
will be announced when all results are collated. The Red Setter Dome breccia
and surround Diorite remain key targets, based on assay results to date.

 

Ed Mead, Wishbone Gold WA director, commented: "This year has provided many
challenges in completing RC and Diamond drill holes to date, and this new
access road will make a tangible improvement to our ability to execute our
drill program in an efficient manner. Currently we have to source and provide
for everything on a remote site basis from Perth, Port Hedland or Marble Bar
which is inefficient. A new road to Nifty will significantly simplify access
to Red Setter and speed up getting drill core processed and assayed for 2026
drilling programs. We will have assay results from 1,509 RC samples and an
estimated 2,178 assays from DD samples to report over the next few months,
with the final 300 metre drillhole for the 2025 drilling season now underway.
The plan is to receive all assay results and then restart drilling on site
when the summer wet season is over. We are extremely happy with what we have
seen in drill core to date and need the assays to quantify our enthusiasm for
the Red Setter Project. We look forward to increased news flow of drilling
results over the next few months as results come in."

 

Figure 1: WSBN Red Setter Project (Red) and Exploration Tenement applications
(Blue) immediately surrounding the Telfer Mine, with new access road
application to Nifty Copper Mine

 

 

END

 

For more information on Wishbone, please visit the Company's website.

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

 

 

 

For further information, please contact:

 Wishbone Gold PLC

 Richard Poulden, Chairman                                 Tel: +971 4 584 6284

 Beaumont Cornish Limited
 (Nominated Adviser and AQUIS Exchange Corporate Adviser)
 Roland Cornish/Rosalind Hill Abrahams                     Tel: +44 20 7628 3396

 Cranborne Communications Ltd
 George Hudson                                             Tel: +44 (0)7803 603130

 

 

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Competent Persons Statement

The Information in this report that relates to exploration results, mineral
resources or ore reserves is based on information compiled by Mr Edward Mead,
who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr
Mead is a director of Wishbone Gold WA Pty Ltd and is a consultant to Wishbone
Gold Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience
which is relevant to the style of mineralisation and type of deposits under
consideration and to the activity that he is undertaking to qualify as a
Competent Person as defined in the 2012 edition of the `Australian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC
Code). Mr Mead consents to the inclusion of this information in the form and
context in which it appears in this report.

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