REG - Hamak Strategy Ltd. - Resource Drilling Underway at Akoko Gold Project

Hamak StrategyAnnouncement

Wed 07:00

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RNS Number : 4774A  Hamak Strategy Limited  15 April 2026

 

 

 

 

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OF SUCH JURISDICTION.

 

15 April 2026

 

Hamak Strategy Limited

("Hamak" or the "Company")

 

Resource Drilling Underway at Akoko Gold Project in Ghana

 

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) a company combining
traditional gold exploration in West Africa with a Digital Asset Treasury
Management strategy, is pleased to announce that it has commenced a 4,125
metres reverse circulation ("RC") resource drill programme on the Akoko gold
project in southwest Ghana.

 

Highlights

 

·      Resource drill programme underway at Akoko oxide gold project in
southwest Ghana

·      72 RC holes for 4,125m planned across the two primary targets at
Akoko

·      Drilling focused on upper 80m of oxide gold material which hosts
a non-JORC resource

·     Programme to generate a maiden JORC* compliant mineral resource
estimate ("MRE") and a Preliminary Economic Assessment ("PEA") for a low-cost
open pit mine

 

CEO and Executive Director Karl Smithson commented:

"We are delighted to commence drilling at the Akoko gold project in southwest
Ghana. The 4,125m RC drill programme is designed to generate a maiden JORC
compliant MRE and support the preparation of a PEA. Drilling is focused on the
upper 80m where modelling suggests the primary oxide gold target is, and which
could be amenable to low-cost open pit mining and processing. We look forward
to providing regular updates on the exploration results from this programme."

 

RC Drilling Programme

Since Hamak signed its contract with Ghana based drilling company Deeprock
(GH) Limited ("Deeprock") for an initial 4,125m RC drilling programme over the
Akoko oxide gold project, the Company has rapidly undertaken the necessary
preparation for drill rig access and drill pads. Deeprock has now mobilised
the drill rig to the Akoko North project area and has commenced drilling a
planned 72 holes for 4,125m across Akoko North and Akoko South.

Drill rig being mobilised to the first drill pads

 

QAQC

All drilling samples are collected by the Company following industry best
practices with an appropriate number and type of certified reference materials
(standards), blanks and duplicates inserted to ensure an effective Quality
Assurance Quality Control "QAQC" regime. RC samples are collected at 1m
intervals with representative samples split at the site. Samples will be
submitted to the ISO accredited SGS Laboratory ("SGS") in Tarkwa (Ghana) for
fire assay technique.  Tarkwa is a nearby town to the Akoko project and is
where Hamak has established its base and therefore, it is expected that assay
results will be received on a regular basis.

 

MRE & PEA Report Preparation

Hamak has retained independent consulting geologist Dr. Colin Andrew to
prepare a maiden JORC compliant MRE for Akoko. The MRE will be based on the
current drill programme results and the 16,000m of historical drilling assay
results that Hamak has received. The current MRE (non-JORC) was undertaken in
2016 by the previous licence owners which estimated 270,000 ounces of
contained gold.

 

Hamak is currently engaging with several independent consulting and
engineering groups to propose a budget for the preparation of a preliminary
economic assessment ("PEA") for a potential low-cost open pit mining and
processing operation at Akoko. The declaration of the updated and JORC
compliant MRE is the first step towards preparing the PEA, which will also
assess options for mining and processing methods, capital and operating costs
and cash flow forecasts, in a robust financial model.

* Note: JORC refers to the Joint Ore Reserves Committee Reporting Code (2012),
the Australian Code for Reporting of Exploration Results, Mineral Resources,
and Ore Reserves

 

The Company further announces that an updated corporate presentation has been
added to its website at https://hamakstrategy.com/
(https://hamakstrategy.com/)

 

For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of Hamak is Karl Smithson, CEO and Executive
Director.

 

For further information on Hamak you are invited to view the company's website
at https://hamakstrategy.com/ (https://hamakstrategy.com/) or please contact:

 

 Hamak Strategy Limited

 Karl Smithson, CEO and Executive Director   k.smithson@hamakstrategy.com (mailto:k.smithson@hamakstrategy.com)

 Mike Murphy, CSO and Executive Director     m.murphy@hamakstrategy.com (mailto:m.murphy@hamakstrategy.com)

 AlbR Capital Limited (Corporate Broker)     +44 (0) 20 7469 0930
 Yellow Jersey PR                            +44 (0) 20 3004 9512

 Annabelle Wills

 

About Hamak Strategy Limited

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company
focussed on gold exploration in Africa and with a strategy of pursuing an
appropriate and compliant BTC / crypto treasury management policy.

 

Important Notice

The Company maintains some of its treasury reserves and surplus cash in
Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated
by The Financial Conduct Authority (FCA) and Bitcoin investments are generally
not subject to regulation by the FCA or otherwise in the United Kingdom.
Neither the Company nor investors in the Company's shares are protected by the
UK's Financial Ombudsman Service or the Financial Services Compensation
Scheme.

 

However, the FCA considers Bitcoin investments to be high-risk. The value of
Bitcoin can go up as well as down, leading to fluctuations in the value of the
Company's Bitcoin holdings, and the Company may not be able to realise its
Bitcoin holdings for the same amount it paid to acquire them, or even for the
value the Company currently attributes to its Bitcoin positions.

The Company's Board of Directors have identified the following risks in
relation to the holding of Bitcoin, which are not exhaustive:

 

•           The value of Bitcoin can be highly volatile, with its
value falling as quickly as it rises. Investors in Bitcoin must be prepared to
lose all money invested.

•           The Bitcoin market is largely unregulated. There is a
risk of losing money due to factors such as cyber-attacks, financial crime,
and counterparty failure.

•           The Company may not be able to sell its Bitcoin at
will. The ability to sell Bitcoin depends on various factors, including the
supply and demand in the market at the relevant time. Operational failings
such as technology outages, cyber-attacks, and comingling of funds could cause
unwanted delays.

•           Cryptoassets carry a perception of fraud, money
laundering, and financial crime.

 

An investment in the Company is not an investment in Bitcoin itself, but
prospective investors in the Company are encouraged to conduct their own
research before investing and should be aware that they will have indirect
exposure to the high-risk nature of cryptoassets, including their volatility,
and could therefore sustain large or total losses of their investment.

 

 

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