GUNGNIR Gungnir Receives Final Results for Rodingtrask and Roles Out New Corporate Presentation
#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 Final Results for Rodingtrask and Roles Out New
Corporate Presentation
Surrey BC – November 14, 2018 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports on final results of the 2018 dri ll program at its Rodingtrask volcanogenic massive
sulphide (VMS) target on the Knaften project in northern Sweden. The Company has also posted a new,
updated corporate presentation highlighting back-to -back target discoveries by Gungnir in 2017 and
2018, and up-graded potential at Knaften; see “Gungnir Presentation Q4 2018”.
Jari Paakki Gungnir’s CEO commented, “At Rodingtras k, final drill results received continue to
demonstrate that we have encountered a large hydrothermal VMS system. With the right characteristics
for deposit discovery, additional drilling is clearly warranted on this brand-new target. We are in the halo
(or edge) of this mineralized system, and the goal now is to get into the core of it to test for higher grade
massive sulphides.”
“We have had successful drill programs with back-to-back new discoveries in 2017 and 2018 at Knaften,
and in fact, these were the Company’s first two dri ll programs it has conducted Sweden. The new
discovery targets (Rodingtrask VMS and a Cu-Ni targ et) add significant up-side to previously gold-only
Knaften project, and now we have multiple opportunities at deposit discovery by way of multiple targets
and metals. All three targets on Knaften are wide-o pen for expansion and further discovery”, continued
Mr. Paakki.
Long core intervals of base metal-enrichment were received in the final holes at the Rodingtrask target.
Results show strongly elevated VMS metals (> 500 pp m Zn + Cu) in 70% of drill core sampled (as
reference, this compares to less than 15% of samples showing these levels in the Company’s prospecting
programs in the Knaften region). The strongest sulp hide mineralization occurs with silicified rock bel ow
a prominent marker “exhalite” horizon at the base o f the host argillaceous conglomerate
(“conglomerate”). Anomalous gold was returned in strongly altered mafic volcanics near the end of hole
KN18-10.
Hole KN18-10: intersected 120 metres of mineralized conglomerate including 28.5m @ 0.44% ZnEq from
109.5 to 139.0m at its base, and 0.2 g/t Au over 4. 05m starting at 207.65m including 0.88 g/t Au over
0.6m in the footwall.
Hole KN18-09: intersected 230 metres of mineralized conglomerate including 21.2m @ 0.43% ZnEq from
171.3 to 192.5m at its base.
Hole KN18-08: hole was drilled down-dip and stopped at a depth of 87m but did hit interweaving
conglomerate-hosted sulphide mineralization over 25 metres including 587 ppm (Zn + Cu) over 10.2m.
This hole is estimated to be about 100 metres strat igraphically above the marker horizon hit in holes 7
(previously reported), 9 and 10.
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NOTE: “ZnEq” (Zinc Equivalent) is provided here for illustrative purposes only to show metal
enrichment.
Drill hole locations are shown in the Company’s Q4 presentation. In 2018, the Company completed ten
holes (five holes in the Knaften 300 Gold Zone, four holes at the Rodingtrask discovery, and one hole
into the new Cu-Ni target discovered by Gungnir in 2017) for a total of 2,028 metres. A total of 665
samples were submitted for assay.
All samples referred to in this release were tested at ALS Laboratories in Galway, Ireland. Cutting of drill
core and sample preparation was completed by ALS in Mala Sweden. A 51-element package (ultra trace
level method ME-MS41) by Aqua Regia and ICP-AES/ICP -MS was employed and method Au-ICP21, a 30-
gram fire assay with ICP-AES finish, was used for g old analysis. Control samples (accredited gold
standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of
results. All results above are core lengths and may not represent the true width of the mineralization.
“ZnEq” (Zinc Equivalent) has been used to express the combined value of zinc, copper, silver and gold as
a percentage of zinc, and is provided for illustrat ive purposes only. Nickel has been included in this
calculation and may reflect contributions from a ga bbroic intrusion, the likely heat-source responsibl e
for mineralization at Rodingtrask. Calculations use metal prices of $1.15/lb zinc, $2.80/lb copper,
$14.50/oz silver, $5.25/lb nickel, $1,200/oz Au and using the formula:
ZnEq% = ((%Zn)(22.0462)(US$lbZn) + (%Cu)(22.0462)(US$lbCu) + (%Ni)(22.0462)(US$ibNi) +
(gptAg)(1/31.1035)(US$ozAg) +(gptAu)(1/31.1035)(US$ozAu)) / ((22.0462)(US$lbZn))
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. Paakki is a Qualified Person under National Instrument 43-101.
Mr. Paakki has 30 years-experience in mineral explo ration with a large portion of it focused on Cu-Zn-
Pb-Ag-Au massive sulphides.
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 sev eral past-producing and producing VMS base metal
mines. The Company’s key project, Knaften (includes new Rodingtrask target and a separate copper-
nickel target), is situated at the southern extensi on of the “Gold Line” which hosts a number of gold
deposits including Faboliden and Svartliden (Dragon Mining), and Barsele VMS-gold (Agnico Eagle and
Barsele Minerals). The Company additionally holds a royalty stream from the sale of the Kenville Gold
Project in BC with $3,000,000 still due in three fu rther annual advance cash payments of $1,000,000
each. 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
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News Release GUG: TSX -V
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For further information contact:
Head Office/Investor Relations
Phone: +1-604-683-0484
Jari Paakki, CEO
Email: [email protected]
Chris Robbins, CFO
Email: [email protected]
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.