Conversion of Sanderson Loan

31 December 2018

Wishbone Gold Plc

("Wishbone" or the "Company")

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

Conversion of Sanderson Loan and issue of equity

Wishbone Gold Plc (AIM: WSBN, NEX: WSBN), the precious metals trading and exploration company, is pleased to announce the issue of 207,297,514 new ordinary shares of 0.1 pence each in the Company (the "Ordinary Shares") as a result of the conversion to equity of 63% of the outstanding loan with Sanderson Capital Partners Limited ("Sanderson"). This results in the conversion of £258,500 of the outstanding total Sanderson loan of £407,141 at a price of 0.1247 pence per Ordinary Share. The conversion price is determined by the 30 day moving average of the Company's share price as determined under the loan agreement.

Sanderson has agreed that it will not sell any of the Ordinary Shares without the permission of Wishbone. Sanderson's intention is to strengthen Wishbone's balance sheet and demonstrate support for the Company's strategy.

Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 7 January 2019.

Following the admission of the new Ordinary Shares, the Company's total issued and voting share capital will comprise of 2,652,128,980 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Enquiries:

Wishbone Gold PLC

Richard Poulden, Chairman Tel: +44 207 812 0645

Allenby Capital Limited

(Nominated Adviser and Joint Broker)

Nick Naylor/Nick Harriss Tel: +44 20 3328 5656

Turner Pope Investments (TPI) Limited

(Joint Broker)

Andy Thacker Tel: +44 20 3621 4120

Damson Communications

(Public Relations)

Abigail Stuart-Menteth/Rosie Quigley Tel: +44 20 7812 0645