Announcement • Jul 01
Tomahawk Metals plc Provides Update on Saturn Gold Project and Antimony and Gold Licenses in Slovakia Tomahawk Metals Plc (AQSE: TWHK), quoted on the Aquis Stock Exchange Growth Market, has provided an update on operations and strategy at Saturn Gold Project in Western Australia and its Antimony and Gold licenses in Slovakia. The Company has entered into an advisory agreement with Sven Honig and Voytech Sesulka who will advise the Company on developing and delivering a pipeline of new projects for the Company to consider. Following site visits to the license areas, the completion and detailed review of SRK's operational review of the license areas and Matej Molcan's guidance, the Company has entered into an agreement with Sven Honig and Voytech Sesulka to complete a desk based analysis of all current and historical information on the licenses. The review will deliver a detailed geological model of the license areas and a clear plan to develop the assets. The Company has appointed Dingo Prospecting, a Western Australia based exploration specialist, to lead a field programme at the Company's Saturn Gold Project, with work expected to commence in the coming weeks. The scope of work that will commence immediately on the Slovakian license areas will focus on digitising all the historic records available on the licenses, it will analyse all historic drill information, and all filed official progress report filed under each licenses area. The information will be summarised, and a detailed geological model will be developed as a result. Following the above a detailed work plan for each of the licenses will be established along with budgets and timeframes required per phase of work. The Saturn Gold Project located in Western Australia is proximal to the Koolyanobbing Iron Ore Mine. Small scale underground mining was conducted at a 12g/t Au production grade. The Saturn Gold Project is located in Western Australia, in proximity to the Koolyanobbing iron ore operations. The project has a history of small scale underground gold mining, with a reported historical production grade of approximately 12 g/t gold. This historical information has not been independently verified by the Company and is not necessarily indicative of future exploration results. Field based exploration program to sample mineralisation at surface and proximal to historical workings will be conducted by Dingo Prospecting. The Company expects to announce results within the next few weeks. A field based exploration programme will be undertaken by Dingo Prospecting field based sampling mineralisation at surface and in the vicinity of historical workings. The Company expects to report initial results in the coming weeks. Board Change • May 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Director Keith Coughlan was the last director to join the board, commencing their role in 2026. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Feb 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (99% average daily change). Market cap is less than US$10m (UK£734.0k market cap, or US$1.01m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). 
