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Gungnir Resources Updates Q4 Company 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 Q4 Company Presentation

Vancouver – November 7, 2017 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the

“Company”) has updated its corporate presentation and comments on its Knaften project in Sweden.

Updates to the company presentation include photos of new drill core from Knaften, new maps and

future exploration plans. To directly view the updated presentation please click this lin k: “Gungnir

Presentation Q4 2017”.

“Our Knaften project was identified by the Company a few years back as an under -explored ‘hot-spot’ in

northern Sweden", stated Gungnir’s CEO, Jari Paakki. “Knaften sits directly up-ice (glacial ice direction) of

a very large gold-in-till anomaly with the source only partially indicated in bedroc k at our Knaften 300

Gold Zone. O ther comparable gold -in-till anomalies in the district match-up with current and past

producing gold mines or known gold resources, demonstrating the potential significance of the Knaften

till anomaly which continues to provide us with great expectations for finding more gold at Knaften. Not

only does Knaften offer gold, our 2017 drill program has added copper -nickel sulphides into the mix (see

NR dated October 23, 2017) . Numerous geophysical conductors nearby are attractive targets to test for

possible massive sulphides containing copper and nickel.”

Mr. Jari Paakki, M.Sc., P.Geo., is a Qualified Person as defined by National Instrume nt 43 -101 --

Standards of Disclosure for Mineral Projects. Mr. Paakki prepared the technical information contained in

this news release and corporate presentation and has approved its disclosure.

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 southern extension of the “Gold Line” which

hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele

(Agnico Eagle and Barsele Miner als). T he Company also has permits covering two nickel deposits in

Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical

resources (see NR dated February 24, 2015). Gungnir additionally holds a $5,000,000 royalty s tream and

received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of

$1,000,000 is due on April 30, 2018. 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:

Jari Paakki, CEO

Tel: 705-507-4470

[email protected]

#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.

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 law s. In certain cases, forward -

looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget",

"scheduled", "estimates", "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 a nd unknown risks, uncertainties and other factors which may cause the actual

performance of the Company to be materially different from any anticipated performance 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

development of its properties. Forward -looking statements or informati on 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 forward -looking 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 -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.