Update on the Exercise of Warrants and TVR

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR")

29 January 2021

Wishbone Gold Plc

("Wishbone" or the "Company")

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

Update on the Exercise of Warrants

 and Total Voting Rights

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), the precious metals trading and exploration company, announces that further to previous announcements the Company has received exercise notices for 8,622,188 warrants, attached to the share placement announced on 10 December 2020, amounting to £1,034,662.56. This constitutes 98.54% of the warrants linked to the placing and the balance have now lapsed.

Pursuant to the exercise notices as detailed above, the Company has issued a total of 8,622,188 new Ordinary Shares of 0.1 pence each from its block listing authority of up to 8,750,000 new Ordinary shares, at a price of 12 pence per share. These shares rank pari passu with the existing Ordinary shares in issue.

As a result of this issue, the total number of Ordinary Shares in issue is 158,591,509 and the total number of voting rights in the Company is 158,591,509. There are no shares held in treasury.

This figure of 158,591,509 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The remaining £15,337.44 balance of unexercised warrants has how expired.

Chairman Richard Poulden commented: "It is gratifying to note that 98.54% of the warrants have been exercised, demonstrating the level of support for the Company and its new target strategy on developing shareholder value by advancing exploration on its Australian high-grade gold properties. This also provides additional funding over and above that already announced and allows for potential new expansion opportunities to our exploration and projects."

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