Gungnir Resources Inc. Gungnir Provides an Exploration Update and Plans for 2017
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News Release GUG: TSX -V
ASWRF: OTCBB
Gungnir Resources Inc.
Gungnir Provides an Exploration Update and Plans for 2017
Vancouver – July 25, 2017 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the
“Company”) is pleased to provide an update on recent exploration activity and plans for 2017.
Gungnir’s key focus is its Knaften gold property in northern Sweden which covers a 13-kilometre long
target at the south end of the “Gold Line”. The “Go ld Line” is the focus of recent wide-spread staking
activity and is actively being explored, including on-going drilling by Agnico Eagle/Barsele Minerals on its
Barsele project. Knaften includes both untested gol d targets (outcrop and local boulders assaying up t o
8.5 g/t Au discovered by Gungnir) in the central part of the property and near-surface drill indicated gold
mineralization including 3.45 g/t Au over 10.75 metres located 3.5 km to the southeast.
The Company recently completed initial ground geophysical surveys at Knaften covering the Company’s
surface prospecting gold discovery area (1,000 x 2,500 metre survey area). Results from the preliminary
surveys confirm a strong correlation with magnetic gold-bearing, angular boulders (with arsenopyrite)
and the newly completed ground magnetics. Ground ge ophysics also included (EM) electromagnetics
and test (IP) induced polarization survey lines. Se veral stacked EM conductors were identified, and ar e
themselves potential drill targets, but these conductors adversely affected the IP survey. Two additional
ground magnetics survey blocks we also completed in the north half of the property in areas where
prospecting outlined boulders with anomalous Au and As.
With drill targets identified, the Company plans to drill test a 1.5 km long magnetic anomaly that
coincides with the magnetic gold-bearing boulders. Drill plans also include “twinning” holes to confir m
gold grades where the previous operator, Lappland Goldminers AB, focused drilling; all drill holes within
a sizeable area measuring 400 x 500 metres are repo rted to have encountered gold mineralization. The
Company is waiting for final drill approvals and wi ll provide further details and dates when drilling is
expected to commence. Further prospecting is additionally planned for later this summer in large areas
of recently clear-cut forest in the south half of the property.
The reader is cautioned that true widths of the dri ll hole intersections reported cannot be determined
from the information available to the Company and the drill result presented is considered as "historical
data" and has not been independently verified by th e Company, and in some instances, may be
unverifiable due to a lack of original data, archiv e sample material or original assay certificates. T he
historic drill result in this release was compiled from the Swedish Geological Survey (SGU) and news
releases. The technical information in this news release has been prepared and approved by Jari Paakki,
P.Geo., CEO and a director of the Company. Mr. Paak ki is a Qualified Person under National Instrument
43-101.
About Gungnir Resources
Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with
gold and base metal permits in northern Sweden with in a region hosting 12 million ounces of gold
delineated in existing and mined resources plus several past-producing and producing base metal mines.
The Company’s key gold project, Knaften, is situated at the southern extension of the “Gold Line” which
hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele
#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 2
News Release GUG: TSX -V
ASWRF: OTCBB
Gungnir Resources Inc.
(Agnico Eagle and Barsele Minerals). Gungnir additi onally holds a $5,000,000 royalty stream and
received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of
$1,000,000 is due on April 30, 2018. Further inform ation about the Company and its properties may be
found at www.gungnirresources.com or at www.sedar.com .
On behalf of the Board,
Jari Paakki, CEO and Director
For further information contact:
Jari Paakki, CEO
Tel: 705-507-4470
Chris Robbins, CFO
Tel: 604-683-0484
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statement s: Certain statements made herein may contain forward -
looking statements or information within the meanin g of Canadian securities laws. In certain cases, fo rward-
looking statements can be identified by the use of words such as "plans", "expects", "is expected", "b udget",
"scheduled", "estimates", "forecasts", "intends", " anticipates" or "believes", or variations of such w ords and
phrases or statements that certain actions, events or results "may", "could", "would", "might" or "wil l be taken",
"occur" or "be achieved", or the negative of these words or comparable terminology. By their very nature forward-
looking statements involve known and unknown risks, uncertainties and other factors which may cause th e actual
performance of the Company to be materially different from any anticipated performance expressed or im plied by
the forward-looking statements. Such forward-looki ng statements or information include, but are not l imited to,
statements or information with respect to Gungnir R esources’ plan for future funding, and exploration and
development of its properties. Forward-looking stat ements or information are based on a number of esti mates
and assumptions and are subject to a variety of ris ks and uncertainties, which could cause actual even ts or results
to differ from those reflected in the forward-looki ng statements or information. Should one or more of these risks
and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may
vary materially from those described in forward-loo king statements or information. For example, there is no
certainty, that any economically viable mineral dep osit will be located on the properties, or that the Company will
receive or be able to raise sufficient capital to complete all of its exploration programs. Accordingly, undue reliance
should not be placed on forward-looking statements or information. Gungnir does not expect to update f orward-
looking statements or information continually as conditions change, except as may be required by securities law.