GUNGNIR RESOURCES INC - ASWRF STOCK NEWS

Gungnir Resources held its Annual General Meeting (AGM) on November 15, 2024, in Surrey, BC, where shareholders approved all proposed resolutions. Key approvals included: setting the board size at four directors (93.77% approval), re-electing Jari Paakki, Chris Robbins, Todd Keast, and Garett Macdonald as Directors (all above 93.59%), appointing DeVisser Gray, LLP as auditors (94.54%), and approving the Company's 10% rolling Stock Option plan (90.31%). Post-AGM, the Board reappointed Jari Paakki as CEO and Chris Robbins as CFO and Corporate Secretary.

Gungnir Resources Inc. (TSX-V:GUG)(OTCPK:ASWRF) has discovered gold in bedrock at its Hemberget project in Sweden's Vasterbotten District. Key highlights include:

1. New grassroots outcrop gold discovery in an unexplored area of the regional 'Gold Line'
2. Surface grab assays returned highly anomalous gold up to 0.74 g/t Au from first-pass outcrop sampling
3. Gold mineralization associated with disseminated arsenopyrite and silica-sericite alteration
4. Excellent road access for cost-efficient exploration

The discovery extends a previously identified two-kilometre-plus trend of mineralized boulders. CEO Jari Paakki noted the potential for IP geophysics to outline possible drill targets for higher-grade gold mineralization.

Gungnir Resources Inc. (GUG:TSX-V)(ASWRF:OTCPK) has announced its intention to extend the expiry dates of 15,330,667 outstanding warrants, subject to TSX Venture Exchange approval. These warrants, originally issued in September and October 2020 with three-year expiry dates, and in September 2021 with a two-year expiry date, were part of private placements of units consisting of common shares and warrants. The company had previously extended these warrants by one year and is now seeking a further one-year extension from their current expiry dates. The warrants will maintain their original exercise prices of $0.09 and $0.08.

Gungnir Resources Inc. (TSXV:GUG)(OTCPK:ASWRF) has discovered a new surface gold exploration target at its Hemberget project in Sweden. Key highlights include:

- Float samples assaying up to 0.422 g/t Au associated with arsenopyrite
- A two-kilometre-plus trend along a magnetic and geologic contact
- An 11-kilometre-long prospective gold exploration target
- Location up-ice of one of the largest gold-in-till anomalies in the district

The discovery bolsters Gungnir's gold and nickel portfolio in Sweden. Initial results suggest a promising gold prospect with arsenopyrite association similar to other Gold Line deposits. Further field work is planned to collect more samples and potentially locate bedrock mineralization.

Gungnir Resources has initiated exploration activities at its 29.4 km² Hemberget property in northern Sweden, targeting gold and base metals. The property includes four zones on the Knaften structural dome, with Gungnir having discovered three of them. The company aims to extend exploration across its Swedish portfolio to uncover new targets and assess its nickel resources, notably the Lappvattnet high-grade nickel project. So far, 33 samples from reconnaissance mapping have been submitted for geochemical analysis, with results pending. The update was verified by CEO Jari Paakki, a Qualified Person under National Instrument 43-101.

Gungnir Resources Inc. received approval to extend a key license for three years, covering a gold-hosting intrusion and untested IP chargeability anomalies. The company is focused on advancing its high-grade nickel project and increasing exploration coverage across its property portfolio. The extended license is part of Gungnir's larger Knaften-Hemberget project, which is situated in Sweden's Vasterbotten District, known for over ten million ounces of gold. The company has discovered gold zones, copper-nickel mineralization, gold-bearing boulders, and VMS style mineralization in the area.

Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) shareholders approved all resolutions at the Annual General Meeting, including setting the number of Directors at four, re-electing current Directors, appointing auditors, and approving the Stock Option 10% rolling plan. After the AGM, Jari Paakki was re-appointed as CEO and Chris Robbins as CFO and Corporate Secretary.

Gungnir Resources reports positive 2023 drill results from Lappvattnet nickel deposit in Sweden, including new intercept of 6.10m of 2.47% Ni. Main Zone intercept found 100m below current nickel resource. Footwall Zone intersections up to 16.9m of 0.56% Ni. Potential to expand deposit beyond current resource. Expanded multi-year drill permit to be submitted. Management plans to evaluate metallurgical testing options.

Gungnir Resources Inc. (GUG:TSX-V, ASWRF:OTCPK) plans to extend the expiry dates of 15,330,667 outstanding warrants, issued in 2020 and 2021, by one year, subject to TSX Venture Exchange approval. The warrants were issued in connection with private placements of units consisting of common shares and warrants of the Company.