Reaver Shark

The Reaver Shark is a new weapon/tool as of 1.2.4. Functioning as more of a Pickaxe than a weapon, the Reaver Shark, along with the Molten Pickaxe are the only two pre-hardmode tools capable of mining hardmode ores up to Cobalt Ore and Palladium Ore. Its use time is noticeably faster however, making it better than the Molten Pickaxe and arguably the best pre-hardmode pickaxe in the game. The Reaver Shark can be obtained via fishing in the Ocean.

Trivia

 * The Reaver Shark is one of the few fish that can be used as a tool, the others being the Swordfish, the Obsidian Swordfish, the Purple Clubberfish, the Sawtooth Shark, and the Rockfish.
 * This may be a reference to Hammerhead sharks, although the elongated parts of the shark appear to be on the forehead and chin areas rather than the eyes.
 * The name may also be a portmanteau of the words 'reef' and 'weaver', both referring to a type of fish.
 * You can sequence-break the game and avoid fighting the Eater of Worlds or Brain of Cthulhu to craft the pickaxe required to mine Hellstone.

History
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