10 February 2016

International law firm Watson Farley & Williams ("WFW") successfully advised Wishbone Gold Plc ("Wishbone Gold") on the acquisition of Precious Metals International Ltd ("PMI") which controls Black Sand FZE ("Black Sand") in an all-share transaction.

AIM-listed Wishbone Gold is a gold exploration and acquisition company with four exploration licences covering 34,700 hectares in north east Queensland, Australia, a region known for significant precious metal deposits.

Black Sand holds a gold, precious metals and gem trading licence to operate in the UAE and currently has agreements in place for importing gold from Colombia and Honduras with supply arrangements also under discussion from other parts of South America.

The WFW corporate team advising Wishbone Gold on the transaction was led by Dubai corporate partner Suhail Mirza, assisted by Senior Associate Carolyn Ang.

Suhail commented: "I am delighted to have advised Wishbone Gold on such a significant acquisition which moves them into a position where rather than simply being just another exploration company with promising properties, they will now also have the support of cash flow deriving from their new trading operations in Dubai".

Chairman and CEO of Wishbone Gold, Richard Poulden, said: "We have been very impressed with WFW's performance on this transaction and look forward to working with them in the future."

-Ends-

For further information, please contact:
Katie Anderson
Business Development Manager
kanderson@wfw.com
Tel
: +971 4 278 2323
wfw.com

1.        Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has c. 450 lawyers and over 800 staff.

2.        Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients.

All references to 'Watson Farley & Williams' and 'the firm' in this document mean Watson Farley & Williams LLP and/or its affiliated undertakings. Any reference to a 'partner' means a member of Watson Farley & Williams LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification.

© Press Release 2016