Gunsynd PLC

("Gunsynd" or the "Company")

Pacific Nickel update: Mining of Nickel Ore Commenced

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on ASX (ASX: PNM) that mining of saprolite nickel ore has commenced from its Kolosori Nickel Project on Isabel Island, Solomon Islands. The Kolosori Nickel Project is a direct shipping ore (DSO) nickel laterite project. Mining of saprolite nickel ore commenced on 1 October 2023 and the ore was delivered to one of the stockpile pads developed by the Company near to the wharf in preparation for the first shipment of ore which is anticipated in November 2023.

Gunsynd currently holds 2,779,840 shares in Pacific Nickel representing approximately 0.66% of Pacific Nickel's issued ordinary share capital.

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.

The Directors of Gunsynd accept responsibility for this announcement.  

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