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Tormont50 Initiates Coverage on Gungnir Resources

Marketing Announcement

News Release GUG: TSX -V

ASWRF: OTCPK

Tormont50 Initiates Coverage on Gungnir Resources

Surrey BC – September 3, 2019 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the

“Company”) is pleased to announce joining Tormont50 upon invitation by the Tormont Group.

Tormont’s mission is to present Gungnir Resources as a relevant and credible growth opportunity. Their

commitment includes preparing a regularly updated G ungnir Resources growth report and other

outreach verticals which will not only be hosted on their platform, but will be proactively used to

highlight capital funding needs to over 75 small ca p institutional investors across North America.

Together these investors represent over $20 Billion in investable capital.

The expectation is that the additional investor awa reness formed as a result of being a member of the

platform, will assist Gungnir in becoming a potenti al leader in its peer group by allowing greater acc ess

to funding and investment community recognition.

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. Suc cessful drill programs in 2017 and 2018 at its

Knaften project resulted in back-to-back new base metal target discoveries; the Rodingtrask VMS and an

adjacent Cu-Ni target. These new targets add signif icant up-side to the previously gold-only Knaften

project, and now the Company has numerous opportuni ties at deposit discovery by way of multiple

targets and metals. All three targets on Knaften ar e wide-open for expansion and further discovery.

Further information about the Company and its properties may be found at www.gungnirresources.com

or at www.sedar.com .

About Tormont50

Tormont50 is a venue for highlighting timely ideas and trends in individual stocks and the market.

Tormont50 is not an advisory service, and does not offer buy, sell, or any other rating on the securit ies

they discuss. The stocks they select for commentary are derived from their own research or via

suggestions from Tormont50 members. Their goal is t o create an exclusive, “concierge” research

platform that will serve both management teams and portfolio managers within the Tormont50

universe.

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

News Release GUG: TSX -V

ASWRF: OTCPK

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 Statements: Certain statements made herein may contain

forward-looking statements or information within th e meaning of Canadian securities laws. In certain

cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "i s

expected", "budget", "scheduled", "estimates", "for ecasts", "intends", "anticipates" or "believes", or

variations of such words and phrases or statements that certain actions, events or results "may",

"could", "would", "might" or "will be taken", "occur" or "be achieved", or the negative of these words or

comparable terminology. By their very nature forwar d-looking statements involve known and unknown

risks, uncertainties and other factors which may ca use the actual performance of the Company to be

materially different from any anticipated performan ce expressed or implied by the forward-looking

statements. Such forward-looking statements or information include, but are not limited to, statements

or information with respect to Gungnir’s plan for f uture exploration and development of its properties ,

Gungnir’s plan for future disclosure relating to exploration and development of its properties, receipt of

the remaining consideration and the completion of the transaction within the timelines set out above or

at all. Forward-looking statements or information 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 shoul d underlying estimates and assumptions prove

incorrect, actual results may vary materially from those described in forward-looking statements or

information. For example, there is no certainty, th at any economically viable mineral deposit will be

located on the properties, that the Company will re ceive or be able to raise sufficient capital to

complete all of its exploration programs or that th e transaction will complete as anticipated.

Accordingly, undue reliance should not be placed on forward-looking statements or information.

Gungnir does not expect to update forward-looking statements or information continually as conditions

change, except as may be required by securities law.