Mr. Chris Robbins reports

GUNGNIR RESOURCES INC. ANNOUNCES MANAGEMENT AND BOARD CHANGES

Gungnir Resources Inc. has made a series of changes to its executive leadership and board of directors, effective immediately.

The company has appointed three new directors to the board: Robert Danard, Kurt G.J. Soost and Michael Gheyle.

Mr. Danard has been appointed interim chief executive officer, filling the vacancy created by the resignation of Jari Paakki, former CEO and director, effective Sept. 30, 2025.

Todd Keast and Chris Robbins will continue to serve as directors. Mr. Robbins will also continue in his executive role, providing continuity and strategic support during the transition period while the company works toward the appointment of permanent executive leadership.

Garett Macdonald, a director of Gungnir since July, 2015, has resigned from the board of directors, effective immediately. Mr. Macdonald will continue his relationship with Gungnir as a consultant to support the company during the transition period.

Mr. Macdonald is the vice-president, operations, and general manager at Hemlo Mining Corp., and previously served as president and CEO of Maritime Resources Corp., prior to the sale of the company to New Found Gold Corp. in November, 2025.

These leadership and governance changes reflect the company's commitment to advancing its exploration assets, strengthening its leadership team, and positioning Gungnir for long-term growth and enhanced shareholder value.

Mr. Danard is a seasoned entrepreneur with a record of building, financing and scaling companies across multiple sectors. His expertise spans strategy, capital formation and leadership in both private and public markets, with experience guiding businesses from inception through growth and exit. Known for a relationship-driven approach and disciplined execution, Mr. Danard continues to focus on opportunities that create durable, long-term value.

Mr. Gheyle brings more than 30 years of experience in international capital markets, including wealth management, derivative trading, corporate finance, institutional sales, mergers and acquisitions (M&As), venture capital, and private equity. He has supported companies across a wide range of industries in raising more than $100-million, and has held executive, board and advisory roles with numerous public and private companies. Most recently, he served as CEO and chairman of Discovery Lithium Corp. He currently sits on the boards of Kiboko Gold Inc., Oyama Capital Corp. and Naked Revival Inc., and advises Solo Automotive Inc., IdBase Technologies Inc., Ameriwest Lithium Inc. and Nova Pacific Metals Corp.

Mr. Soost, principal at Capital Find Partners Inc. (CFP), has been assisting companies throughout North America with their capital needs, and financial advisory services since May, 2014. Mr. Soost has been a top performer in the banking/investment industry for over 35 years and has spent 10 years with the Royal Bank of Canada Group in various positions, including assistant manager, corporate finance, and vice-president at RBC Dominion Securities. Mr. Soost was also a senior vice-president and director at Merrill Lynch Canada, and managing director of the Trimor Group of Companies. He is an award-winning investment adviser at both RBC (president of the President's Club & Chairman's Council) and Merrill Lynch (Society of Eagles, UHNW Program & Chairman's Club). Mr. Soost is also a chartered financial analyst (CFA), 1994, recognized as the pre-eminent designation in the investment industry, and has completed many of the courses offered by the Canadian Securities Institute (CSI). Mr. Soost has built an extensive and impressive database of approximately 35,000-plus of North America's wealthiest investors (ultrahigh net worth, family offices, private equity, ventures capital and other financial institutions).

The appointment of Mr. Danard, Mr. Gheyle and Mr. Soost remains subject to the approval of the TSX Venture Exchange.

About Gungnir Resources Inc.

Gungnir Resources is a Canadian-based junior mineral exploration firm strategically positioned in the Vasterbotten district of northern Sweden, a region historically recognized for its prolific geological endowment and Tier 1 mining jurisdiction status. The company's portfolio is characterized by a dual-commodity focus, balancing a substantial nickel-copper-cobalt resource base with high-potential gold exploration targets along the Gold Line (Knaften-Barsele Arc).

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