Pacific Nickel – Issue of deferred shares

Gunsynd plc

("Gunsynd" or the "Company")

Pacific Nickel - Issue of Jejevo deferred consideration shares

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited (ASX: PNM) ("Pacific Nickel"), that it has completed an allotment of 13,803,340 ordinary fully paid shares at an issue price of AUD$0.08, being the deferred consideration shares for the acquisition of an 85% interest in Sunshine Minerals Limited it does not already own ("Sunshine Minerals") (the "Transaction") which holds 80% of the Jejevo Nickel Project.

As per the Transaction announced 21 August 2020, Gunsynd will receive 1,641,856 fully paid ordinary shares which are subject to a lock-in until the earlier of: (a) the date 12 months from the deferred consideration issue date; or (b) to the date 10 business days after the Mines Department grants Sunshine Nickel Limited a mining lease for PL 01-18.

Following completion of the Transaction, Gunsynd will hold 4,725,597 ordinary shares in Pacific Nickel representing approximately 1.26% of Pacific Nickel's issued share capital. Gunsynd will no longer have a direct interest in Sunshine Minerals.

The Directors of Gunsynd accept responsibility for this announcement.

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