Update on Eagle Lake Project

Gunsynd Plc

("Gunsynd" or the "Company")

Update on Eagle Lake Project

Gunsynd (AIM: GUN) notes the announcement made by Talon Resources Plc (AIM:TAR) in relation to its admission to trading on AIM.

Talon holds a 90 per cent. interest in Wedgetail Mining Corp. ("Wedgetail"), with the remaining 10 per cent. interest held by Gunsynd plc. Wedgetail is the registered holder of the mining claims comprising the Eagle Lake Gold Project.

DETAILS

Eagle Lake Gold Project ("Eagle Lake" or "the Project")

The Eagle Lake Gold Project comprises 95 contiguous single-cell mining claims covering 1,985.88 hectares in the Kenora Mining Division, Ontario, Canada. The Project is located approximately 27 km west-southwest of Dryden and is situated within the Wabigoon Subprovince, an Archean greenstone belt prospective for structurally controlled orogenic gold mineralisation.

The mineral claims are held through Wedgetail, which owns a 100% interest in the claims under the Ontario Mining Act.

The Project is located within the Dryden Gold District, an area that has attracted increasing exploration activity in recent years. The Wabigoon Subprovince hosts numerous gold occurrences and past-producing mines associated with shear-hosted quartz-carbonate vein systems, providing a well-established geological setting known to host mineralisation analogous to that observed at Eagle Lake.

Historical exploration at the Project has identified several gold-bearing zones across the property, including sample results of up to 204 g/t Au at surface. Despite these results, only 26 historical discovery drill holes have been completed on the Project, none of which exceeded 155m in depth, leaving significant portions of the property untested at depth.

Hamish Harris commented: "It is pleasing to see Talon Resources complete its admission to AIM which should allow Eagle Lake to progress, particularly given its drill ready status. We look forward to further updates in the coming weeks and months."

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. 

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