Wishbone Gold Plc announced an update on the findings of the first phase of the drilling program comprising five reverse circulation holes which has taken place at Cottesloe in recent weeks. The drill results reinforce those announced by the company in May 2023, namely that Cottesloe has significant mineralisation potential and is considered highly prospective for precious and base metals. The Cottesloe Project is located around 55 km south of Newcrest Mining's Telfer Gold Mine and about 35 km south-east of Wishbone's Red Setter Project in the Paterson Range province of Western Australia.

Highlights from the Program: Basin stratigraphy has been confirmed to be highly suitable for sediment hosted base metal mineralisation similar to that at nearby Cyprium Metals Nifty (Cu) and Maroochydore (Cu-Co) mines and also the Mt Isa style (Zn-Pb-Ag) deposits. Largesulphidic and pyritic shalezones encountered with widths over 70m. Initial onsite XRF (X-ray fluorescence spectroscopy)results show elevatedCu (copper), Pb (lead), Zn (zinc), Co (cobalt), Ni (nickel), K (potassium), V (vanadium), Ti (titanium) present in RC drill chips. Highly encouraging thick sulphide zone in hole 23CTRC0001 confirms the architecture and target zones are consistent with the exploration model.

Reverse Circulation (RC) pre-collar drilling program has been successfully completed with the aim of: oestablishing water bores for diamond drilling; and otesting the upper parts of the geological model using RC. Diamond drilling to start in the coming weeks andcosts are to be 50% funded by the WA Government's EIS scheme up to a total of $220,000 of direct drilling costs. Nifty mineralisation style is being targeted at Cottesloe. Nifty has produced more than 700Kt of copper metal with a further 940Kt in resource.

Comments on Reverse Circulation pre-collar drilling at Cottesloe: Two holes (23CTRC001 and 23CTRC005) reached target zones with pyritic black shales intersected in both holes. 23CTRC001 intersected pyrite over a wide zone from 72-148m with the zone from 112-121 metres showing the strongest sulphide zone. 23CTRC005 intersected pyritic shales towards the base of the weathered zone (89-90m) within ferruginous clays that may be weathered pyritic shales from 65m.

There was also stronger pyrite within black shales from 124-145m, with disseminated pyrite throughout the hole. Drill chips have been sent to the lab for analysis with results due in 6-8 weeks. The pyrite varies from disseminated spot occurrences to semi massive zones within black shales.

This unit is a primary target and it is hoped that the assaying on these samples will provide a vector to the most strongly mineralised zones within this highly prospective basin. This unit may also be a corollary to the Pyrite marker bed seen in the hanging wall to the Nifty mineralisation. The information gained to date is highly encouraging, confirming the overall exploration model for a major sediment hosted system.