New Gold Exploration Target Outlined At Hemberget

SURREY - Gungnir Resources Inc. reported discovery of a new surface gold exploration target on the Hemberget project located in the south-east portion of the regional Gold Line, Vasterbotten District, Sweden. New grassroots prospecting discovery with angular to sub-angular float assaying up to 0.422 g/t Au associated with characteristic Gold Line arsenopyrite; > 10,000 ppm As in new results. Two-kilometre-plus trend open-ended along a well-defined magnetic and geologic contact; 11-kilometre-long prospective gold exploration target. Property is situated up-ice of the one of the largest gold-in-till anomalies in the district; other till anomalies are related to either current and past-producing gold mines or known gold resources.

"This new surface gold exploration target bolsters our gold and nickel portfolio in Sweden, currently highlighted by a developing intrusion-hosted gold target at Knaften and our high-grade Lappvattnet nickel deposit. While still in its very early stages, initial results point to a definitely pursuable gold prospect at Hemberget which shares an arsenopyrite association similar to other gold deposits along the regional Gold Line. With only limited samples collected to date, the next step is further field work to get more samples for assay and to possibly locate bedrock mineralization", commented Jari Paakki, CEO.