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.

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."