New Risk • Dec 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Shares are highly illiquid. Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$31.7m market cap, or US$23.0m). Announcement • Dec 03
Gunpoint Exploration Ltd. announced that it has received CAD 3.35 million in funding On December 2, 2025, Gunpoint Exploration Ltd closed the transaction. The securities issued pursuant to the Offering are subject to a four month plus one day hold period from the date of issuance, expiring on April 3, 2026, pursuant to applicable Canadian securities laws. The Offering is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") because directors and officers of the Company acquired an aggregate of 3,075,000 Units pursuant to the Offering. Randy Reifel, Chairman, President and Chief Executive Officer of the Company, acquired 2,500,000 Units pursuant to the Offering. Following completion of the Offering, Mr. Reifel holds, directly and indirectly, an aggregate of 10,110,001 Common Shares, representing approximately 16.9% of the issued and outstanding Common Shares on an undiluted basis. Announcement • Nov 19
Gunpoint Exploration Ltd. announced that it expects to receive CAD 3.35 million in funding Gunpoint Exploration Ltd. announced a non-brokered private placement consisting of 8,375,000 units at a price of CAD 0.40 per Unit for aggregate proceeds of CAD 3,350,000 on November 18, 2025. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable at a price of CAD 0.60 into one common share for a period of two years from the closing of the offering. The offering is expected to close on or about December 1, 2025, and is subject to certain conditions including, but not limited to, the acceptance of the TSX Venture Exchange. Certain directors, officers and insiders of the company will acquire units under the offering. No finder's fees or commissions will be payable in connection with the offering. 
