Gungnir Resources Issues Clarification on Sweden Resources
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Resources Issues Clarification on Sweden Resources
Surrey, BC – November 18, 2020 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or
the “Company”) would like to clarify, at the request of IIROC , that resources in the today’s news release
are not covered by a current N.I. 43-101 report, and therefore are not to be relied upon.
However, a N.I. 43 -101 Technical Report in support of the mineral resource estimates will be filed on
SEDAR within 45 days.
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. Gungnir’s projects includes Knaften, which hosts a
developing intrusion-hosted gold system, and a VMS (zinc -copper) and copper -nickel target, and the
Lappvattnet and Rormyrberget nickel-copper-cobalt deposits , located east of Knaften. 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:
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.
Forward-Looking Information
Certain statements in this news release and in Gungnir’s other news release disseminated as of today’s date may
constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward -
looking statements). Forward -looking information i nvolves known and unknown risks, uncertainties and 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 o r implied by such forward -
looking information. Forward-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 and phrases, including references to assumptions. Some of the
specific forward -looking information in these two news release s include, but is not limited to, statements with
respect to: the potential for furth er resource expansion and the incorporation of platinum group elements in the
News Release GUG: TSX-V
ASWRF: OTCPK
estimates; Gungnir’s plans to increase expenditures on its projects including fresh drill holes in 2021; the potential
to improve nickel grades, potential for significant platin um group elements and to improve nickel recovery; the
increase in mineral resource estimates and the reasons therefore; the filing of a technical report and timing thereof;
plans for future exploration and development of its properties, Gungnir’s plan for future disclosure relating to
exploration and development of its properties within the ti melines set out above or at all and the exercise of the
options.
Forward-looking information is based on a number of key expectations and assumptions made by Gungnir,
including, without limitation: 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 d emand for Gungnir’s services and products in the future; Gungnir will be able to
operate its business as planned ; metal prices and potential mining methods used in resource estimates are
reasonable; further resource expansion is possible; increasing expend itures and the timing thereof is reasonable
and possible; the potential improvements in nickel grades, significant platinum group elements and nickel recovery
are reasonable and may be realized; the technical report will be completed and filed within the p roposed timeline
and Gungnir’s plans for future exploration and development of its properties is reasonable and will be possible.
Although the forward -looking information contained in these two news release s 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 guarantee 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 vi able mineral deposit will be located on Gungnir’s
properties; that Gungnir will be able to complete its exploration programs as anticipated; the impacts of the COVID-
19 pandemic on the Canadian and global economy, Gungnir’s industry and its business, which may negatively
impact, and may continue to negatively impact, Gungnir and may materially adversely affect its investments,
results of operations, financial condition and Gungnir’s ability to obtain additional equity or debt financing, and
satisfy its fina ncial oblig ations; general economic conditions; future growth potential; common share prices;
liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; environmental
matters; changes in legislation or regulat ions; resource estimates may not be accurate and may differ significantly
from actual mineral resources; the technical report may not be able to be completed within the propose timeline or
at all; and the potential improvements and significant PGEs may not be realized. Management believes that the
expectations reflected in the forward-looking information 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 contained this news release and in Gungnir’s other news release disseminated as
of today’s date 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 these two news release s 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.