Gungnir to Re-Evaluate Potential of Its Nickel-Copper-Cobalt Assets in Sweden; Geophysics Underway

Gungnir Resources (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the “Company”) is commencing a thorough review of its nickel-copper assets in Sweden following the Company’s drill-discovery of layered gabbro with nickel-copper bearing sulphides at its Knaften property this fall.

The Company has commenced a ground geophysical survey at its Lappvattnet and Rormyrberget permits located east of Knaften, and plans to re-sample selective archived drill core and 3D-model the mineralized zones in advance of planning future work.

 Gungnir’s CEO, Jari Paakki said:

“Now that we have nickel-copper mineralization on a third property in northern Sweden, the Company is taking a fresh look at its two staked nickel deposits, Lappvattnet and Rormyrberget, which collectively contain over 70 million pounds of nickel, 10 million pounds of copper and 2 million pounds of cobaltin historic resources.

Within both deposits, very good nickel drill intersections are reported including 5 metres of 3.21% Ni + 4.28 g/t TPM (Total Precious Metals, Pt+Pd+Au)at Lappvattnet and 12.5 metres of 2.63% Ni at Rormyrberget. With additional value-added TPM’s reported, and several previous drill holes not assayed for Pt, Pd or Au, sampling of archived drill core, planned during the upcoming winter months, will include TPM assays.”

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