GUNGNIR Gungnir Receives $100,000 for Granting One-Month Extension on Second Advance Royalty Payment
#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 1
News Release GUG: TSX -V
ASWRF: OTCPK
GUNGNIR
Gungnir Receives $100,000 for Granting One-Month Extension on Second
Advance Royalty Payment
Vancouver – May 1, 2018 - Gungnir Resources Inc. (G UG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports that 0995237 B.C. Ltd. (“0995237”) has requested an extension of time to make its
second advance royalty payment of $1,000,000 due to the Company. The Company has granted a one-
month extension in exchange for a non-refundable pa yment of $100,000 (received). The second
advance royalty payment of $1,000,000 is now due in full on or before May 30, 2018.
The advance royalty payments come from the sale of the Kenville Gold Mine project (“Kenville”) located
in southeastern British Columbia to private company , 0995237 on April 30 th , 2014. The Company sold
Kenville as it changed its focus from pursuing mini ng efforts to a fully engaged exploration company
focused in Sweden. Total consideration for the sale of Kenville was $5,900,000 which was partially
satisfied by the delivery $900,000 on closing, with the remaining $5,000,000 to be satisfied by five ( 5)
advance royalty payments of $1,000,000 each. The p ayment of the remaining $5,000,000 is secured by
a Royalty Agreement registered on title to Kenville and a Specific Security Agreement registered under
the Personal Property Registry, British Columbia. T he Company received the first advance royalty
payment of $1,000,000 in 2017.
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
(Agnico Eagle and Barsele Minerals). The Company al so has permits covering two nickel deposits in
Sweden, Lappvattnet and Rormyrberget which collecti vely host 70 million pounds of nickel in historical
resources (see NR dated February 24, 2015), and new ly staked Norrbotten gold and base metal permits
in the Norrbotten District. Gungnir additionally holds a $5,000,000 royalty stream and received the fi rst
annual payment of $1,000,000 on May 2, 2017. The ne xt annual payment of $1,000,000 is due on or
before May 30, 2018. Further information 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:
Chris Robbins, CFO
Tel: 604-683-0484
Jari Paakki, CEO
#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 2
News Release GUG: TSX -V
ASWRF: OTCPK
GUNGNIR
Tel: 705-507-4470
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 the payme nt of any advance royalty payments, Gungnir Resourc es’ plan
for future funding, and exploration and development of its properties. Forward-looking statements or i nformation
are based on a number of estimates and assumptions and are subject to a variety of risks and uncertain ties, which
could cause actual events or results to differ from those reflected in the forward-looking statements or
information. Should one or more of these risks and uncertainties materialize, or should underlying est imates and
assumptions prove incorrect, actual results may var y materially from those described in forward-lookin g
statements or information. For example, there is no certainty, that any economically viable mineral de posit 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 relian ce should not be placed on forward-looking statemen ts or
information. Gungnir does not expect to update forw ard-looking statements or information continually a s
conditions change, except as may be required by securities law.