Gungnir Resources Inc. provide an update on its current exploration activities in northern Sweden. Initial prospecting, mapping and sampling commenced earlier this month on the Company's 29.4 km2 Hemberget property which covers the northern portion of the Knaften structural dome offering potential for gold and base metals. At present, four zones/occurrences are known on the western and southern part of the dome, three of which were discovered by Gungnir.

See news release dated January 24, 2024 for details on regional targets and accompanying map. Surface work is part of the Company's plan to increase exploration coverage across the Company's property portfolio in Sweden to potentially generate new targets while continuing to evaluate options for its nickel resources, including the Lappvattnet high-grade nickel project. The Company plans to rank all of its targets/projects and outline possible strategies moving forward.