This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR

1 August 2022

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Encouraging Visual Drilling Results at Red Setter Project

Patersons Range, Western Australia

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce drilling is delivering encouraging results (Photos 1-5), with the intersection of multiple zones of quartz veining, carbonate and chalcopyrite and pyrrhotite, from drilling targeting the previously reported 3.4km x 1km magnetic targets modelled at the Company's Red Setter Gold-Copper Project in the Patersons Range area in Western Australia.

The current hole (WRSDD0003) is at a depth of ~370metres and will continue until it is out of visible sulphides. The core has not been fully logged or cut by Terra Search, and will be dispatched for assay in the coming weeks. The first drill hole drilled in this programme was a water bore to set the drill programme up for diamond drilling, with the first diamond drill hole (WRSDD0002), a vertical hole on the same drill pad. This hole intersected visible mineralisation but was terminated at 384metres depth to move to the current hole, which was designed to test the top of the magnetic signature. After completion of the current hole, WRSDD0002 will be re-entered and pushed further to test the mineralisation.

The Red Setter Project is situated on the 57.4km² wholly owned exploration licence EL45/5297 and is located 13 km south-west of Newcrest Mining's Telfer Gold-Copper Mine and 60km west of Newcrest and Greatland Gold's Havieron gold-copper discovery.

Richard Poulden, Wishbone Gold's Chairman, commented, "It has taken some time to get the diamond drilling underway at Red Setter, and I am very pleased to see these encouraging signs of mineralisation from the drilling thus far. On the strength of what is being seen to date, Wishbone is now endeavouring to secure an additional diamond drill rig.  I look forward to further positive results as we target the ~3km strike of the magnetic models. This is an exciting time for Wishbone."

Competent Persons Statement

The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to the company and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

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

www.wishbonegold.com.

END

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Photo 1: WRSDD0003, Chalcopyrite and pyrrhotite in quartz vein ~350m down hole.

Photo 2: WRSDD0003, Pyrrhotite associated with albite - carbonate and biotite alteration at~ 345 metres

Photo 3: WRSDD0003, Brecciation around 280 - 290m. Note local clots of pyrite

Photo 4: WRSDD0003, Chalcopyrite and pyrrhotite in quartz carbonate fractures and brecciation at ~345 metres

Photo 5: WRSDD0003, Chalcopyrite and pyrrhotite in quartz vein ~350 metres down hole.