Wishbone Gold (WSBN) Status update summary

Exploration results and project status

• Recent exploration at Red Setter yielded results exceeding expectations, with grades similar to or better than the nearby Telfer mine.

• Gold and copper mineralisation confirmed along a 4 km diorite trend, with intercepts such as 8.36m at 1.09 g/t Au and 0.05% Cu, and 5.76m at 0.66 g/t Au and 0.4% Cu from the 2025 drilling campaign.

• Economic mineralisation occurs within altered diorite and breccia zones, with higher grades at depths below 150 meters.

• Structural logging shows mineralisation in multiple orientations, and results are consistent with previous drilling across the strike length.

• Nearology supports the project's potential, being 10-20 km from the Telfer deposit and 50 km from Nifty copper mine.

2026 drilling programme and operational plans

• A fully funded 25-hole, 9,000-meter drill programme is planned for 2026, targeting the full 4-kilometer strike with pre-collar holes and diamond tails.

• The programme aims to test extensions of known mineralisation, evaluate continuity, and improve understanding of structural controls.

• Drilling will use reverse circulation pre-collars and diamond core tails, targeting depths up to 400 meters.

• Drilling is set to commence at the end of April, with mobilisation after the rainy season and preparations beginning in early April.

• Geological profiling and drill targeting have been refined based on recent results, aiming for broader coverage.

Data management and communication

• Assay processing will be streamlined, with core processed on-site and regular sample shipments to Perth.

• Results will be released progressively throughout the 2026 campaign, improving transparency for shareholders.

• Consolidated data and geophysical analysis, including Mobile Magnetotelluric surveys, have provided a comprehensive understanding of the mineralised system.

• Visual aids and detailed maps are available to illustrate drill locations and results along the strike.

• The project remains open along strike, with significant potential for a large-scale mineralised system.