Fundraise of 1.75 million and TVR

Wishbone Gold Plc is pleased to announce it has raised gross proceeds of £1,750,000 at a placing price of 0.13 pence per share ("Placing Price") through the issue of 1,346,153,846 new Ordinary Shares of 0.1 pence par value each (the "New Ordinary Shares"). Global Investment Strategy UK Limited acted as broker to the placing and raised gross proceeds of £850,000; an additional £600,000 was placed directly with institutional and other shareholders of the Company and £300,000 has agreed to be subscribed by Group Directors ("Related Party Transaction") immediately following the publication of the Company's December 2024 Accounts which are expected shortly (together the "Fundraise").

The proceeds of the Fundraise will provide additional working capital towards its gold exploration activities in Australia, spearheaded by the Company's plans to drill the deeper holes into the Red Setter Gold Dome target, as previously announced. This additional funding will provide the extra capital to continue drilling at Red Setter should the main gold targets be identified.

Application is being made for the New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares on issue, to be admitted to trading on the AIM and AQSE markets ("Admission"). Dealings in respect of 1,115,384,616 New Ordinary Shares are expected to commence on or about 17 June 2025 and the issue is subject only to Admission. The dealing date and PDMR dealing forms in respect of 230,769,230 New Ordinary Shares in respect of the Related Party Transaction will be subject to a further announcement in due course.

Related Party Transaction

Messrs. Richard Poulden and Jack Sun, Directors of the Company and Edward Mead, director of a Group company, who are Related Parties under the AIM Rules have agreed immediately following the publication of the Company's December 2024 Accounts to subscribe equally for a total of 230,769,230 New Ordinary Shares at the Placing Price. Accordingly, this is a Related Party Transaction under AIM Rule 13.

The Directors, other than, Messrs. Poulden and Sun, consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's Shareholders are concerned.

Total Voting Rights ("TVR")

The Company's total issued and voting share capital up Admission will consist of 2,364,124,923 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company. A further TVR notification will be issued following the admission to trading of the 230,769,230 New Ordinary Shares in relation to the Related Party Transaction.

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