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."