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Gungnir Resources Updates Corporate Presentation

Marketing Announcement

#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 1

News Release GUG: TSX-V

OTCBB: ASWRF

Gungnir Resources Inc.

Gungnir Resources Updates Corporate Presentation

Vancouver – February 23 , 2017 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCBB ) (“Gungnir” or the

“Company”) has updated its corporate presentation, which may be accessed directly with this link “ Gungnir

Presentation Q1 2017”.

Updates include photos of drill core from the Company’s recently acquired Knaften gold property extension

in Sweden and future exploration plans.

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 within 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 south ern extension of the “Gold Line” which hosts a number of

gold deposits including Faboliden and Svartli den (Dragon Mining), and Barsele (Agnico Eagle and Barsele

Minerals). The Company additionally holds a $5,000,000 royalty stream with five annual advance cash

payments of $1,000,000 expected to commence on or before May 1, 2017. Further information about t he

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:

Jari Paakki, CEO

Tel: 705-507-4470

[email protected]

Chris Robbins, CFO

Tel: 604-683-0484

[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 the meaning of Canadian securities laws. In certain cases, forward -looking statements

can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estima tes",

"forecasts", "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 forward -looking statements involve known and

unknown risks, uncertainties and other factors which may cause the actual performance of the Company to be materially

different from any anticipated perform ance 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

Resources’ plan for future funding, and exploration and developm ent of its properties. Forward -looking statements or

information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties,

which could cause actual events or results to differ from those reflected in the fo rward-looking statements or

information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and

#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 2

News Release GUG: TSX-V

OTCBB: ASWRF

Gungnir Resources Inc.

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

information. For example, there is no certainty, that any economically viable mineral deposit 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 forward -looking statements or information continually as conditions change, except as may be

required by securities law.