New Risk • Aug 18
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$19.2m market cap, or US$13.8m). Announcement • Jul 08
Gelum Resources Completes Second Comprehensive Rock Sampling Programme At Las Tinajas Gold Project Gelum Resources Ltd. reported it has completed a second comprehensive rock sampling programme on its Las Tinajas Gold Project, covering 2,600 hectares in the north end of the Maricunga Gold Belt, Chile. The 403 rock samples are expected to extend the well-documented gold mineralization that was identified by historical drilling and recent surface rock sampling by Gelum and determine the potential for related porphyry-copper mineralization near the southern and western limits of the Project. The entirety of the Project is surrounded by a land package under development by a Joint-Venture between Rio Tinto and CODELCO, which targets porphyry copper mineralization below epithermal gold deposits in the district. Several porphyry copper deposits lie within 10km of Las Tinajas in the Potrerillos Cu-Au District. Company contractor Southern Rock Geophysics has mobilized to complete magnetotellurics (MT) and vector induced polarization (VIP) surveying at Las Tinajas. The primary objective of the survey is to characterize the distribution of resistivity across the entire the project area, from near-surface levels down to depths of nominally 3,000 metres or greater for the MT survey, and to approximately 800 metres for the VIP chargeability and resistivity parameters. Southern Rock Geophysics work is to establish specific porphyry drill targets on the back of historical data collected and analysed to date. Management intends to use the funds from the recent equity raise to immediately drill once targets are established. Announcement • Jun 24
Gelum Resources Ltd. announced that it has received CAD 4.293096 million in funding On June 22, 2026, Gelum Resources Ltd. closed the transaction. The company issued 11,602,961 units at an issue price of CAD 0.37 per share for gross proceeds of CAD 4,293,095.57. Finder’s fees were paid to Canaccord Genuity Corp. (CAD 34,848.45 cash and 94,185 finder’s warrants) and Haywood Securities Inc (CAD 7,122.50 cash and 19,250 finder’s warrants). Finder’s warrants are non transferable, otherwise they have the same terms as the Warrants. Insider participation included Chad Williams, a director of the Company for 500,000 Units. 
