Gungnir Plans Geophysics at Hemberget, Sweden; Targets Copper-Nickel Mineralization
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Plans Geophysics at Hemberget, Sweden; Targets
Copper-Nickel Mineralization
Surrey, BC – April 18, 202 3 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports that the Company is finalizing plans to conduct electromagnetic (EM) geophysics on
its Hemberget property located in the Vasterbotten district in northern Sweden. The company is
targeting shallow conductors potentially related to copper-nickel sulphide mineralization within a large,
layered mafic -ultramafic intrusion . S imilar, but much smaller intrusions, located to the south on the
Company’s Knaften project , host copper-nickel mineralization which was earlier discovered by Gungnir.
Work at Hemberget is planned to coincide with drilling activities at the Company’s high -grade
Lappvattnet nickel deposit , further details to follow . Please refer to the following link for Hemberget
maps (Figure 1).
The initially planned ground EM survey will consist of several widely -spaced profiles across the property,
totally approximately 30 line -kilometres, using a Loupe EM system , a new portable time -domain
electromagnetic (TEM) instrument. The survey will be carried out by Geovista AB, Lulea, Sweden.
The property occurs in the northern part of the Knaften greenstone belt, covering a thick package of
dacite and rhyolite volcanics, including fragmentals, along side mafic pillow lavas, straddling the large
magnetic anomaly which based on government mapping corresponds to the “ Hemberget” gabbro -
ultramafic intrusion (dated at 1.86 Ga) . Initial field investigations in 2022 confirm ed out-cropping
gabbroic intrusive rocks and boulders, and additionally sulphide bearing sedimentary rocks, a key
ingredient in magmatic sulphide deposit ion. Potential exists for volcanogenic massive sulphide ( VMS)
style mineralization on Hemberget as well. See news release dated April 7, 2022 which outlines
Gungnir’s staking acquisition of Hemberget.
The technical information in this news release has been prepared, verified and approved by Jari Paakki,
P.Geo., CEO, and a director of the Company. Mr. Paakki is a Qu alified 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,
ASWRF: OTCPK) with gold and base metal projects in northern Sweden. Gungnir’s assets include two
nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, and
the Knaften project which hosts a developing intrusion -hosted gold system, and VMS (zinc -copper) and
copper-nickel targets, all of which are op en for expansion and further discovery. The Company has also
recently added the Hemberget property to its Swedish property portfolio which covers an 11 km long
gabbro-ultramafic intrusion, a greenfield copper -nickel target. 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
News Release GUG: TSX-V
ASWRF: OTCPK
For further information contact:
Head Office/Investor Relations
Phone: +1-604-683-0484
Email: [email protected]
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.
Forward-Looking Information
Certain statements in this news release may constitute “forward -looking information” within the meaning of
applicable securities laws (also known as forward -looking statements). Forward -looking information involves
known and unknown risks, uncertainties an d other factors, and may cause actual results, performance or
achievements or industry results, to be materially different from any future results, performance or achievements
or industry results expressed or implied by such forward -looking information. Fo rward-looking information
generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”,
“expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms an d
phrases, including references to assumptions. Some of the specific forward-looking information in this news release
includes, but is not limited to, statements with respect to: the expectations that the geophysical survey will outline
conductors related to copper-nickel mineralization; plans to coincide geophysical work with drilling activities and
the timing thereof; and plans for advancement of its properties and the timing thereof.
Forward-looking information is based on a number of key expectations and assumptions made by Gungnir,
including, without limitation: expectations of expanding and defining the existing resource s are reasonable and
possible; access to the resource will rema in available ; transportation and infrastructure will remain available as
anticipated; the COVID-19 pandemic impact on the Canadian and global economy and Gungnir’s business, and the
extent and duration of such impact; no change to laws or regulations that negatively affect Gungnir’s business;
there will be a demand for Gungnir’s services and products in the future; Gungnir will be able to operate its
business as planned; Gungnir will be able to access capital markets on and successfully complete financings on
terms it determines to be reasonable; and Gungnir’s plans for future exploration and development of its properties
is reasonable and will be possible within the anticipated timelines. Although the forward -looking information
contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure
investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management ’s current
expectations and plans relating to the future and readers are cautioned that such statements may not be
appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should
not be read as a guarante e of future performance or results as actual results may differ materially from those
expressed or implied in such forward -looking information. Those risks and uncertainties include, among other
things, risks related to: no certainty that any economically viable mineral deposit will be located on Gungnir’s
properties; that Gungnir may not be able to complete its planned geophysics and drilling as anticipated ; the
impacts of the COVID-19 pandemic; the impacts of war and/or other international conflicts; ability to access capital
News Release GUG: TSX-V
ASWRF: OTCPK
markets and complete successful financings on terms Gungnir determines to be reasonable; environmental
matters; changes in legislation or regulations; receipt of required licenses, permits and approvals; and resource
estimates may not be accurate and may differ significantly from actual mineral resources. Management believes
that the expectations reflected in the forward -looking informat ion contained herein are based upon reasonable
assumptions and information currently available; however, management can give no assurance that actual results
will be consistent with such forward -looking information. The forward -looking information containe d this news
release is expressly qualified in its entirety by this cautionary statement. Forward -looking information reflects
management's current beliefs and is based on information currently available to Gungnir. The forward -looking
information is stated as of the date of this news release and Gungnir assumes no obligation to update or revise
such information to reflect new events or circumstances, except as may be required by applicable law.