Curves does a nice job of what you wish to achieve. You find three Ink Filler icons on the Properties window of Curves.
Top one selects the Black Point. Choose this and experiment by clicking on different black points on the image.
Do the same for the Third ink filler, to get the White point...
Hi and welcome @flabber
You are supposed to upload images directly onto this site rather than use a third party image uploader. You can use a third party site only if your images are not accepted by this site.
I think I have been able to get until there in this image:
Some people in the background were removed, picture was brightened. I am open to make any further changes you require.
Maybe someone can attempt these.
Please ignore that I said Elliptical Marquee Tool and use the Ellipse Tool and Rectangle Tool instead as suggested by @IamSam
One of the advantages is you do not have to fill colour later on. Another advantage is, you can change size later on if needed.
But, to answer your question, you need...
Brilliant! Thank you for sharing the secret. Now I am able to replicate the same.
You learn something new everyday. Spent quite some time on this today, trying to get that. Thanks again, Illusion.
I have one more question for you - how do I get your user name with the @ symbol to reference...