Gunsynd PLC
("Gunsynd" or the "Company")

Investee Company update Richmond Hill Resources

Gunsynd (AIM: GUN) notes a Corporate update from Richmond Hill Resources PLC ("Richmond Hill") (AIM: RHR) including the below:

Richmond Hill has entered into a binding term sheet (the "Term Sheet") which it is proposed that the Company will enter into a sale and purchase agreement (the "Agreement") with respect to the Martello Gold Project, consisting of certain licences over prospective acreage in Ontario, Canada (the "Proposed Transaction").

Highlights on the Martello Gold Project

·      100% proposed acquisition of the Martello Gold Project, Ontario

·      88 mining claims located within 4,241 hectares situated in the Wabigoon Greenstone belt which includes numerous other reported gold deposits

·      South East of Dryden Ontario, a well-known gold district

·      Good availability of drill rigs and crews and other infrastructure

·      Highway access to within 10km of the property, gravel roads within the property

·      High grade historic grab samples including a grab sample of up to 1,050 g/t au

·      Three historic mine shafts

·      Drilling Permits in place

Don Strang Executive Director, commented:

"We are pleased to see Richmond Hill Resources becoming active in the gold space.  The proposed acquisition, subject to completion, has the potential to be an attractive opportunity in the context of prevailing gold prices.  The reported high-grade grab samples are encouraging, and with permits in place we look forward to further updates in due course.  This adds to our gold exposure along with Eagle Lake and our 100% owned Barb project."

The Directors of the Company are responsible for the release of this announcement.

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