Gladiator Resources : Minjingu Project Drilling & Exploration Update

ASX Announcement 24 January 2022

For personal use only

MINJINGU URANIUM AND PHOSPHATE PROJECT DRILLING AND

EXPLORATION UPDATE

HIGHLIGHTS

• 417-lineKm completed of ground radiometric traverses
• Numerous radiometric anomalies identified
• Drilling of priority holes completed
• All current samples are with SGS (Mwanza) for sample preparations, with pending multielement assay results expected in several weeks

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to report that its wholly owned subsidiary (subject to final regulatory approvals) Zeus Resources (T) Limited (Zeus) has substantially completed the planned radiometric traverses and drilled all priority holes at its Minjingu Uranium Project located in Northern Tanzania.

Gladiator Resources Chairman Ian Hastings commented:

"The Company is pleased with progress at its Minjingu Phosphate and Uranium project where radiometric traverses and priority hole drilling is substantially complete. Whilst delays were encountered for the Xmas break and for difficult ground conditions which necessitated a change to Aircore drilling the maiden drilling program and survey is expected to complete within a few weeks."

Minjingu - (Uranium, Phosphate) 100% Gladiator

The Minjingu Uranium and Phosphate project covers a total area of 296.9km2 and is located in northern Tanzania, 106km southwest of Arusha the main administrative city in the area and 520km northwest of Dar es salaam. The Minjingu Project area possesses solid infrastructure such as quality tarmac roads, power lines, airport services via both Arusha and Kilimanjaro International airports and ample water resources.

Maiden RC Drilling Program

The planned 1000m maiden RC drilling program at Minjingu was designed to evaluate historical intercepts reported by (Montero Mining and Exploration Ltd: ((TSX.V: MON)) in 2007). Although the Company commenced the program using its planned Reverse Circulation, difficult ground conditions necessitated a change to Aircore with encouraging production to date. The Company has completed the two priority drill holes designed to twin historical drilling and all current drill samples are with SGS (Mwanza) for sample preparations. Samples 21MJRC001 will then be dispatched to ALS (Johannesburg) for full multielement determinations expected within 4 weeks. Results of 21MJRC002 are expected shortly thereafter.

Gladiator Resources Ltd. | www.gladiatorresources.net | ASX: GLA

4/91 William Street | Melbourne VIC | T: [phone]

ASX Announcement 24 January 2022

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Figure 1 - Gladiator Project locations in Tanzania

Previous Exploration

From May to June 2007, Montero Mining and Exploration, drilled 25 hand auger holes (MH01 to MH25) to an average depth of just under 5 m, the deepest being 8 m and then, in late June to early July 2007, drilled 18 short percussion holes (MW01 to MW18), the deepest being to 79 m. The total meterage drilled was 119.5 m for the auger holes and 1,232 m for the percussion holes. Significant Uranium mineralisation was intercepted in 2 holes (MW14 and MW15 Table 1) at the Minjingu Uranium and Phosphate Project.

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ASX Announcement 24 January 2022

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Figure 2 - Gladiator Resources Maiden Drilling program collar locations targeting Montero DH mineralisation 2007 and completed

RC/AC drill holes.

Figure 3 - Gladiator Resources Maiden Drilling program collar locations targeting Montero DH mineralisation 2007

www.gladiatorresources.net

ASX Announcement

24 January 2022

Table 1 - Gladiator Resources Maiden drilling program summary

		Hole ID	Hole Type	Max Depth		Phase		Grid ID	m_East		m_North		RL		Azimuth		Dip
		21MJ001	RC	96.00		Phase1		ARC60_36S	823392		9589326		1002		0.0		-90
		21MJ002	RC/AC	77.00		Phase1		ARC60_36S	822998		9589328		1002		0.0		-90
		21MJ003P	AC	100.0000		Phase1		ARC60_36S	823097		9589327		1002		0.0		-90
		21MJ004P	AC	100.0000		Phase1		ARC60_36S	823196		9589327		1002		0.0		-90
		21MJ005P	AC	100.0000		Phase1		ARC60_36S	823296		9589326		1002		0.0		-90
		21MJ006P	AC	100.0000		Phase1		ARC60_36S	822998		9589278		1002		0.0		-90
only
	21MJ007P	AC	100.0000		Phase1		ARC60_36S	823097		9589277		1002		0.0		-90
		21MJ008P	AC	100.0000		Phase1		ARC60_36S	823196		9589277		1002		0.0		-90
use	AC	100.0000		Phase1		ARC60_36S	823295		9589276		1002		0.0		-90
		21MJ009P
		21MJ010P	AC	100.0000		Phase1		ARC60_36S	823392		9589276		1002		0.0		-90

		*Please note. Hole locations are currently planned only and may be moved accordingly.
		Ground Radiometric Survey Program
personalFor	In conjunction with the completion of the first 2 priority holes of the maiden phase 1 drilling program, Gladiator is
pleased to report a total of 476 line-Km's have been completed of the planned 800km total line ground radiometric
survey. Numerous surface radiometric anomalies have been identified. These anomalies will form the basis of
		further shallow geochemical auger programs.
		The planned phase 1 survey has been designed at 100m north-south over the main Minjingu Uranium/Phosphate
		project area, with closer spaced infill traverses planned over further defined radiometric anomalies. The company
		looks forward to completing and compiling the raw data soon to commence processing/gridding the data to further
		update shareholders on the ground radiometric results to date.

Figure 4 - Gladiator Resources Planned Ground Radiometric survey.

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ASX Announcement 24 January 2022

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Figure 5 - Ground Radiometric completed traverses to date. Lines continue to be surveyed in the south until completion.

Related ASX Announcements

20210811 ACQUISITION OF PROSPECTIVE TANZANIAN EXPLORATION PORTFOLIO

20210913 ACQUISITION OF TANZANIAN EXPLORATION PORTFOLIO

20210924 TANZANIAN EXPLORATION LICENSES GRANTED

20211018 HIGH GRADE RADIOACTIVITY CONFIRMED FOR MINJINGU PROJECT - TANZANIA

20211125 DRILLING TO COMMENCE - MINJINGU URANIUM AND PHOSPHATE PROJECT - TANZANIA

20211207 EXPLORATION ACTIVITIES UNDERWAY AT MINJINGU URANIUM AND PHOSPHATE PROJECT TANZANIA

20211214 MAIDEN DRILLING PROGRAM HAS COMMENCED AT THE MINJINGU URANIUM AND PHOSPHATE PROJECT TANZANIA

-ENDS-

Released with the authority of the Board.

For further information please visit: www.gladiatorresources.net

contact:

Ian Hastings	Andrew Draffin	Mark Flynn
Chairman	Company Secretary	Investor Relations
[e-mail]	[e-mail]	[e-mail]
[phone]	[phone]	[phone]

www.gladiatorresources.net