Update on Eagle Lake Project

Gunsynd PLC

22 July 2026

 

Gunsynd Plc

("Gunsynd" or the "Company")

Update on Eagle Lake Project

Gunsynd (AIM: GUN) notes a Corporate update from Talon Resources Plc (AIM:TAR).

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.

The relevant extracts from Talon Resources' announcement are reproduced below without material amendment:

Overview

Results of its Phase 1 exploration programme completed at the Eagle Lake gold project in Ontario, Canada ("Eagle Lake" or the "Project").

·    Gold mineralisation confirmed across multiple priority targets, strengthening confidence ahead of maiden drilling expected to commence in Q4 2026.

·    Channel sampling highlights include:

o  1.85m @ 7.17g/t Au, including 0.50m @ 24.40 g/t Au (East Fornieri Bay)

o  4.80m @ 4.47 g/t Au, including 1.0m @ 19.10 g/t Au (East Fornieri Bay)

o  5.70m @ 1.26 g/t Au, including 1.70m @ 3.15 g/t Au (Cedar Trench)

o  10.10m @ 0.57 g/t Au, including 2.50m @ 1.53 g/t Au (Cedar Trench)

·    New Moss Knoll target identified, returning 8.00m @ 0.67 g/t Au, including 3.20m @ 1.10 g/t Au.

·    Best grab sample returned 32.90 g/t Au at Parker Shear.

·    Results will now be integrated with historical data and MINML's machine learning-assisted targeting platform to finalise drill targets for the maiden 1,000m diamond drilling programme.

Details

Eagle Lake hosts multiple known gold-bearing zones identified through historical exploration, including surface sample results of up to 204 g/t Au. While these results demonstrate the presence of high-grade gold mineralisation, the Project remains relatively underexplored and is now being systematically advanced through Talon's exploration programme.

The company's Phase 1 exploration programme (see RNS dated 29 June 2026) comprised geological mapping, channel sampling and grab sampling across the Project's priority East Fornieri Bay, Cedar Trench and Parker Shear targets.

In total, eight channels were completed across four locations (see Table 1), generating 57 channel samples over 46.45m, together with six grab samples. Visible gold was noted at Fornieri Bay (see Figure 1), Cedar Trench and Moss Knoll and subsequently confirmed by fire assay (where applicable).

The programme confirmed gold mineralisation across multiple priority target areas and strengthened the Company's geological understanding ahead of its maiden drilling campaign. The programme also identified a previously unrecognised mineralised outcrop, named Moss Knoll, between Fornieri Bay and Cedar Trench. The outcrop displays geological characteristics similar to those observed at Parker Shear and is interpreted to lie along the same mineralised trend, representing a new exploration target.

Table 1: Selected Channel Sample Results

Channel	Site	Date	From (m)	To (m)	Length (m)	Au (g/t)
CH-01	East Fornieri Bay	2026-07-02	0.85	2.70	1.85	7.17
CH-01	East Fornieri Bay	2026-07-02	1.35	1.85	0.50	24.40
CH-02	East Fornieri Bay	2026-07-02	0.40	0.80	0.40	1.17
CH-03	East Fornieri Bay	2026-07-02	0.60	5.40	4.80	4.47
CH-03	East Fornieri Bay	2026-07-02	1.60	2.60	1.00	19.10
CH-04	Cedar Trench	2026-07-04	0.00	5.70	5.70	1.26
CH-04	Cedar Trench	2026-07-04	4.00	5.70	1.70	3.15
CH-05	Cedar Trench	2026-07-05	0.00	10.10	10.10	0.57
CH-05	Cedar Trench	2026-07-05	7.60	10.10	2.50	1.53
CH-06	Moss Knoll	2026-07-07	1.60	9.60	8.00	0.67
CH-06	Moss Knoll	2026-07-07	5.60	8.80	3.20	1.10
CH-07	Moss Knoll	2026-07-07	0.80	2.40	1.60	0.83

Note: The reported channel widths represent sample lengths measured along exposed surface outcrop and may not represent the true widths of the mineralised zones.

Grab sampling at Parker Shear returned grades of up to 32.90 g/t Au, with additional assays of 8.37 g/t Au, 4.57 g/t Au and 0.38 g/t Au. Grab samples from East Fornieri Bay and Moss Knoll returned 1.54 g/t Au and 0.82 g/t Au respectively.

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. 

For further information, please contact:

Gunsynd plc Hamish Harris	[phone]
Cairn Financial Advisers LLP  Liam Murray / James Western	[phone]
AlbR Capital Limited Lucy Williams	[phone]

 

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