DGAP-News: Gungnir Resources Inc. / Key word(s): Miscellaneous 
Gungnir Resources Inc.: Gungnir Files NI 43-101 Technical Report for Swedish 
Nickel Resources 
 
2020-11-26 / 06:07 
The issuer is solely responsible for the content of this announcement. 
 
*Gungnir Files NI 43-101 Technical Report for Swedish Nickel Resources* 
 
Surrey, BC - November 25, 2020 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: 
OTCPK) ("*Gungnir*" or the "*Company*") is pleased to announce that a 
National Instrument 43-101 ("*NI 43-101*") independent technical report 
entitled "Technical Report on the Lappvattnet and Rormyrberget Deposits, 
Northern Sweden" with an effective date of November 17, 2020 (the 
"*Technical Report*") has been filed on SEDAR. 
 
Highlights of the resource estimates were previously announced by the 
Company in a news release dated November 18, 2020 entitled "*Gungnir 
Resources Tables 177 Million Pounds of Nickel in Sweden*". 
 
*Sweden Nickel Resources:* 
 
- Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel 
for 154 million lbs (70 million kg) of nickel. 
 
- Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 
23.1 million lbs (10.5 million kg) of nickel. 
 
_Notes:_ 
 
_1. CIM definitions were followed for Mineral Resource estimation and 
classification;_ 
 
_2. Mineral Resources for Lappvattnet are estimated using polygonal methods 
with a cut-off grade of 1.0% Nickel Equivalent (NiEq) and assume potential 
underground mining;_ 
 
_3. Mineral Resources for Rormyrberget assume potential open pit mining 
methods are estimated within a constraining wireframe and at a cut-off grade 
of 0.14% Nickel Equivalent (NiEq) based on a review of reports for similar 
deposits filed on SEDAR in 2019 and 2020;_ 
 
_4. The NiEq grade was determined using the formula NiEq = Ni% + Cu% x 
0.5594 + Co% x 2.034;_ 
 
_5. For Rormyrberget, the 0.14% NiEq cut-off includes only material in the 
constraining wireframe;_ 
 
_6. Bulk density is 3.00 t/m3 for Rormyrberget and 3.46 t/m3 for 
Lappvattnet;_ 
 
_7. For Rormyrberget resources were estimated to a maximum depth of 430m 
below surface;_ 
 
_8. Metal Prices used were $6.05/lb nickel, $2.75/lb copper, $16.00/lb Co;_ 
 
_9. Assumed recoveries are 65% for Ni, 80% for Cu and 50% for Co; and_ 
 
_10. Figures may not total due to rounding._ 
 
The two properties are located approximately 40 km apart. Mineral Resources 
estimated for Lappvattnet assume potential underground mining methods. 
Mineral Resources estimated for Rormyrberget assume potential open pit 
mining methods and are constrained by a conceptual open pit shell. Please 
refer to the Technical Report and news release dated November 18, 2020 for 
further details regarding these resources. 
 
With recommendations in the new Technical Report along with work completed 
by Gungnir including geological and structural analyses, core sampling, 
ground geophysics and 3-D modelling, the Company is now making plans for 
continued work at both properties in 2021. The Company has also submitted an 
application to more than double the size of the Rormyrberget property and 
will be submitting extension applications for existing licenses covering 
both deposits in early January 2021. The new license application and 
extensions are subject to final approval by Sweden's Inspector of Mines. 
 
*Qualified Persons* 
The Technical Report for the Lappvattnet and Rormyrberget deposits was 
prepared by John Reddick, M.Sc., P.Geo., of Reddick Consulting Inc. (RCI) 
and Thomas Lindholm, Senior Mining Engineer of Geovista AB. Mr. Reddick, and 
Mr. Lindholm who are Independent Qualified Persons, as defined under NI 
43-101, have reviewed and approved this news release. The news release has 
been prepared and approved by Jari Paakki, M.Sc., P.Geo., CEO and a director 
of the Company. Mr. Paakki is a Qualified Person under NI 43-101. 
 
*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. 
Gungnir's projects includes Knaften, which hosts a developing 
intrusion-hosted gold system, and a VMS (zinc-copper) and copper-nickel 
target, and the Lappvattnet and Rormyrberget nickel-copper-cobalt deposits, 
located east of Knaften. Further information about the Company and its 
properties may be found at www.gungnirresources.com [1] or at www.sedar.com 
[2]. 
 
*On behalf of the Board,* 
Jari Paakki, CEO and Director 
*618465* 
*For further information contact:* 
Head Office/Investor Relations 
Phone: +1-604-683-0484 
 
Jari Paakki, CEO 
Email: jpaakki@eastlink.ca 
 
Chris Robbins, CFO 
Email: robbinshcr@shaw.ca 
 
_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._ 
 
*Forward-Looking Information* 
 
Certain statements in this news release may constitute "forward-looking 
information" within the meaning of applicable securities laws (also known as 
forward-looking statements). Forward-looking information involves known and 
unknown risks, uncertainties and other factors, and may cause actual 
results, performance or achievements or industry results, to be materially 
different from any future results, performance or achievements or industry 
results expressed or implied by such forward-looking information. 
Forward-looking information generally can be identified by the use of terms 
and phrases such as "anticipate", "believe", "could", "estimate", "expect", 
"feel", "intend", "may", "plan", "predict", "project", "subject to", "will", 
"would", and similar terms and phrases, including references to assumptions. 
Some of the specific forward-looking information in this news release 
includes, but is not limited to, statements with respect to: the potential 
mining methods for Lappvattnet and Rormyrberget; the plans for continued 
work at both properties and the timing thereof; the intention to double the 
size of the Rormyrberget property and intention to submit extension 
applications for existing licenses covering both deposits and the timing 
thereof; and the final approval by Sweden's Inspector of Mines. 
 
Forward-looking information is based on a number of key expectations and 
assumptions made by Gungnir, including, without limitation: the COVID-19 
pandemic impact on the Canadian and global economy and Gungnir's business, 
and the extent and duration of such impact; no change to laws or regulations 
that negatively affect Gungnir's business; there will be a demand for 
Gungnir's services and products in the future; Gungnir will be able to 
operate its business as planned; metal prices and potential mining methods 
used in resource estimates are reasonable; further resource expansion and 
the assumed potential mining methods is reasonable and possible; Gungnir 
will be successful in submitting its applications and extensions, and will 
receive approval within reasonable timeframes; and Gungnir's plans for 
future exploration and development of its properties is reasonable and will 
be possible. Although the forward-looking information contained in these two 
news releases is based upon what Gungnir believes to be reasonable 
assumptions, it cannot assure investors that actual results will be 
consistent with such information. 
 
Forward-looking information is provided for the purpose of presenting 
information about management's current expectations and plans relating to 
the future and readers are cautioned that such statements may not be 
appropriate for other purposes. Forward-looking information involves 
significant risks and uncertainties and should not be read as a guarantee of 
future performance or results as actual results may differ materially from 
those expressed or implied in such forward-looking information. Those risks 
and uncertainties include, among other things, risks related to: no 
certainty that any economically viable mineral deposit will be located on 
Gungnir's properties; that Gungnir may not be able to complete its 
exploration programs, license applications and extensions as anticipated; 
the impacts of the COVID-19 pandemic on the Canadian and global economy, 
Gungnir's industry and its business, which may negatively impact, and may 
continue to negatively impact, Gungnir and may materially adversely affect 
its investments, results of operations, financial condition and Gungnir's 
ability to obtain additional equity or debt financing, and satisfy its 
financial obligations; general economic conditions; future growth potential; 
common share prices; liquidity; tax risk; tax laws currently in effect 
remaining unchanged; ability to access capital markets; environmental 
matters; changes in legislation or regulations; and resource estimates in 
the Technical Report may not be accurate and may differ significantly from 
actual mineral resources. Management believes that the expectations 
reflected in the forward-looking information contained herein are based upon 
reasonable assumptions and information currently available; however, 
management can give no assurance that actual results will be consistent with 
such forward-looking information. 
 
_The forward-looking information contained this news release is expressly 
qualified in its entirety by this cautionary statement. Forward-looking 
information reflects management's current beliefs and is based on 
information currently available to Gungnir. The forward-looking information 
is stated as of the date of this news release and Gungnir assumes no 
obligation to update or revise such information to reflect new events or 
circumstances, except as may be required by applicable law._ 
 
2020-11-26 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
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