Mr. Jason Bontempo reports

13.3% COPPER SAMPLED AT ARCTIC CHIEF PROSPECT

Gladiator Metals Corp. has released an update to its continuing data compilation of historic drilling and the identification of the largely untested shallow, high-grade, Arctic Chief prospect, at the historically producing Whitehorse copper project.

Historical drill results -- Arctic Chief prospect

Historical drill intersections at Arctic Chief, external to the previously mined areas, includes mineralization that remains open both along strike and at depth, with best results including:

• AC-015: 17.1 metres at 1.52 per cent Cu (copper) from 26.49 m;
• AC-013: 13.35 m at 1.42 per cent Cu from 20.85 m;
• AC-051: 6.79 m at 3.14 per cent Cu from 80.47 m;
• AC-035: 6.71 m at 2.24 per cent Cu from 29.44 m.

Recent mapping and confirmatory rock chip results -- Arctic Chief prospect

Geological continuity of outcropping high-grade copper and gold mineralization in the wider area surrounding Arctic Chief has been established by recent field mapping and rock chip results, where mineralization remains open both along strike and at depth at all of the defined prospect areas, and include:

• 13.3 per cent Cu and 5.53 grams per tonne (g/t) Au (gold) (H678364 -- approximately 110 m north of West pit);
• 8.05 per cent Cu and 10.1 g/t Au (H678301 -- approximately 80 m southwest of West pit);
• 4.69 per cent Cu and 4.46 g/t Au (H678374 -- approximately 140 m south-southeast of East pit);
• 5.8 per cent Cu and 1.8 g/t Au (H678375 -- approximately 130 m south-southwest of East pit);
• Only limited exploration has been completed to date away from identified mineralization in the wider Arctic Chief prospect area, providing Gladiator with an opportunity to consolidate multiple target areas through continuing regional mapping, sampling and geophysical programs aimed at further refining drill targets in the area.
• Historical drilling completed by the operator was selectively sampled for high-grade copper only. Given the high-grade gold reported in recent rock chipping results (up to 10.10 g/t Au -- sample H678301), Gladiator intends to assay all future drilling and sampling for additional credits, including gold, silver and molybdenum, which were proven contributors to the economics of historic operations.

Jason Bontempo, Gladiator chief executive officer, commented:

"Gladiator is pleased to have identified another priority work area from its data compilation of historic drilling datasets. Drilling and past production from the Arctic Chief prospect remains shallow and is open in all directions. Excitingly, initial fieldwork from Gladiator's summer field programs highlights the wider potential of the prospect with high-grade copper and gold identified in multiple surface outcrops.

"Field crews are still active in the Whitehorse copper belt with regional-scale mapping, sampling and geophysical programs taking place in the summer months. We look forward to updating the market in the coming months with results from this regional exploration, further data compilation of historic drilling, assays from previously unlogged and unsampled core, as well news from Gladiator's planned 4,000-metre diamond drill campaign at Cowley Park."

The Arctic Chief prospect

Arctic Chief comprises two shallow open cut pits (East and West), that are less than approximately 40 m deep, that exploited very high-grade ore near surface approximately four kilometres to the northwest of the historic Little Chief mine and processing facility. According to Watson (1984), Artic Chief reported production totalling 202,000 tonnes of copper ore grading 1.4 per cent Cu and one g/t gold (Watson, 1984 -- "The Whitehorse copper belt -- a compilation").

Previous successful exploitation of the Arctic Chief prospect was limited in scope and remains shallow. Very limited drilling has been undertaken outside of these past-producing deposits with mineralization remaining open both along strike and at depth at all of the defined prospect areas.

The company has recently completed collating historic drilling, completed a lidar (light detection and ranging) survey, and undertaken reconnaissance, prospecting and sampling of outcropping Cu-Au skarn mineralization proximal to the Arctic Chief mining pits.

The recently collated historic drilling (56 holes for 6,819 metres), none of which had been previously reported by the company, identified significant mineralization that has been exploited by mining, and further mineralization that remains unmined and extends along strike from the historic pits. Significant downhole mineralization includes:

• Unmined intersections:
  • AC-015: 17.1 m at 1.52 per cent Cu from 26.49 m;
  • AC-013: 13.35 m at 1.42 per cent Cu from 20.85 m;
  • AC-051: 6.79 m at 3.14 per cent Cu from 80.47 m;
  • AC-035: 6.71 m at 2.24 per cent Cu from 29.44 m.
• Mined intersections:
  • XAC-001 21.33 m at 1.48 per cent Cu from 6.1 m;
  • XAC-002: 8.43 m at 2.31 per cent Cu from 37.75 m;
  • XAC-004: 30.48 m at 1.83 per cent Cu from 15.24 m;
  • AC-002: 21.03 m at 3.95 per cent Cu from 21.34 m, including 9.75 m at 7.81 per cent Cu from 29.87 m;
  • AC-009: 23.17 m at 1.10 per cent Cu from 19.2 m;
  • AC-010: 27.09 m at 1.49 per cent Cu from 23.2 m, including 9.96 m at 3.18 per cent Cu from 40.33 m;
  • AC-022: 11.34 m at 2.06 per cent Cu from 35.72 m;
  • AC-026: 14.2 m at 1.8 per cent Cu from 22.04 m, including 7.62 m at 3.01 per cent Cu from 23.56 m.

Holes were drilled at various dips on variable, prospect specific, nominal grids. Gladiator obtained the drill records and logs from the Yukon Geological Survey archives, and has captured the data within an industry standard database, which have been validated.

A complete list of the collated historic drilling noted above, including hole location, azimuth and dip, can be accessed on-line.

In conjunction to the drill data compilation, Gladiator undertook reconnaissance and sampling of outcropping mineralization proximal to the Arctic Chief pits. Sampling identified that significant potential to identify further mineralization remains external to the mined pits, with sampling reporting significant mineralization along strike from the pits, including:

• Line of outcropping skarn mineralization over 50 m of strike, 110 m north (West pit), that returned:
  • 13.3 per cent Cu and 5.53 g/t Au (H678364);
  • 7.01 per cent Cu and 0.8 g/t Au (H678287);
  • 2.03 per cent Cu and 4.3 g/t Au (H678288).
• Outcropping skarn mineralization, approximately 90 m south (West pit) and along strike from hole AC-035 (6.71 m at 2.24), that returned:
  • 8.05 per cent Cu and 10.1 g/t Au (H678301).
• Outcropping skarn mineralization, approximately 120 m to 150 m to the south and south-southwest (East pit), along strike from holes AC-013 (13.35 m at 1.42 per cent Cu) and AC-015 (17.1 m at 1.52 per cent Cu), that returned:
  • 4.69 per cent Cu and 4.46 g/t Au (H678374);
  • 4.40 per cent Cu and 0.6 g/t Au (H678373);
  • 5.8 per cent Cu and 1.8 g/t Au (H678375) reported from a mineralized skarn on the edge of the southern waste dump.
• Unmined mineralization in or adjacent to the southern pit wall (West pit), that returned:
  • 1.5 per cent Cu and 1.9 g/t Au (H678302);
  • 0.87 per cent Cu and 1.97 g/t Au (H678303).

A complete list of rock chip sampling by Gladiator Metals, including location and generalized geology, can be found on-line.

Regional exploration

Work completed to date has identified more than 30 drill-ready, high-grade regional targets associated with copper-rich skarns at the contact between the Cretaceous age Whitehorse plutonic suite, and the Triassic to Jurassic Lewes River group's clastic and carbonate metasediments. Cumulatively, there is more than 35 km of underexplored strike on the contact which is highly prospective for high-grade copper plus/minus molybdenum plus/minus silver plus/minus gold.

Gladiator's position is enhanced at Whitehorse, with the project having near-year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse, and a strong partnership with the owners of the Whitehorse copper project, an experienced local drilling service provider.

Quality assurance/quality control and data verification

The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The company believes that the historical drill results do not conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant, as the company will use these data as a guide to plan future exploration and drilling programs. The company also considers the data to be reliable for these purposes, however, the company's future exploration work will include verification of the data through drilling. The company has provided drill results derived form the compilation of historic data relating to prospects which were mined or partially mined by prior operators. The company is using these data as it attempts to identify trends within the prospect areas. The company expects to use these data as a guide to plan future exploration and drilling programs.

The historical mineral resources discussed in this press release were calculated using mining industry standard practices for estimating mineral resource and mineral reserves prior to the implementation of the current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 10, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent qualified person (QP) has not done sufficient work to classify the estimate discussed as current mineral resources or reserves, and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse copper project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the company confirms that it does not have a current mineral resource on any part of its Whitehorse copper project.

Rock chip sampling

Rock chip samples are collected and identified by the company's geologists that are undertaking regional mapping and sampling throughout the company's tenure. Rock chip samples are selectively taken from observed outcrops, subcrops and float material, as determined relevant by the geologist. Samples are geologically logged, recorded with a sampling ticket that matches the submitted sample and located by hand-held GPS (plus/minus five m accuracy). The samples are then sent for analysis. Certified reference materials (CRMs) or known blank material is placed within the sampling sequence on an ad hoc basis. All samples were submitted to the ALS Global Laboratory (Canada).

Samples subject to this release were crushed to 70 per cent less than two millimetres (mm) before pulverizing to better than 85 per cent passing 75 microns. Samples were then analyzed by ALS method Au-AA25 (30 gram fire assay -- ore grade Au with AA (atomic absorption) finish), ME-ICP61 (33 elements aqua regia with ICP-MS (inductively coupled plasma mass spectrometry) finish), with overlimits for Cu analyzed by method CU-OG62 and Ag by Ag-OG62 (aqua regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata.

Rock chip sampling results are relevant as a guide to plan future exploration and drilling programs, and are not necessarily representative of mineralization throughout the prospect as they are highly selective by nature. At this point, the company regards the data collected from this exercise as reliable for the purposes of identifying future exploration targets, and may be used to inform future drilling and exploration campaigns.

The Whitehorse copper project

The Whitehorse copper project is an advanced-stage copper plus or minus molybdenum plus or minus silver plus or minus gold skarn exploration project in Yukon, Canada. The property comprises 314 contiguous claims covering approximately 5,380 hectares (13,294 acres) in the Whitehorse mining district.

Copper mineralization was first discovered in 1897 on the Whitehorse copper belt, as it came to be known. The Whitehorse copper belt is composed of over 30 copper-related, primarily skarn occurrences covering an area of 35 km by five km in a northwesterly trending arc. Exploration and mining development have been carried out intermittently since that time, with the main production era lasting between 1967 and 1982, where production totalled 267.5 million pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized material milled (Watson, 1984).

The project is accessible with numerous access roads and trails located within two km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exist throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.

In November, 2022, Gladiator executed an option agreement to acquire 100 per cent of the Whitehorse copper project by incurring exploration expenditures of $12-million on the project, staged payment of $300,000 in cash and the staged issue of 15 million shares over six years. Following the exercise of the option, the company must pay the optionor, or such other person(s) as the optionor may direct, from time to time, a 1-per-cent net smelter return royalty on the Whitehorse copper project.

Qualified person

All scientific and technical information in this news release has been prepared, or reviewed and approved, by Kell Nielsen, the company's vice-president of exploration, a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.