Gungnir closes property acquisition from Oyama

• Gungnir Resources Inc. has completed the acquisition of a 100% interest in five mineral claims totaling 3,676.3 hectares in the Cariboo mining district of British Columbia.
• The transaction was finalized through the issuance of 12 million common shares at $0.05 per share and a future cash payment of $50,000 to Oyama Capital Corp.
• The company assumed a 3% Net Smelter Returns (NSR) royalty on the property, with an option to reduce it to 1% upon a $2-million payment.
• This announcement closes the deal initially announced on April 28, 2026, confirming the transfer of title and regulatory approval from the TSX Venture Exchange.
• Director Michael Gheyle abstained from voting due to his relationship with Oyama Capital Corp, identifying the transaction as a non-arm's-length party deal.

• The news is classified as Routine - Positive because it represents the closing of a previously announced acquisition rather than new market-moving information.
• Terms were disclosed in April 2026; therefore, there are no surprises regarding share price or consideration that would alter valuation models unexpectedly.
• The addition of ~3,676 hectares diversifies the portfolio beyond their core Swedish assets but adds a royalty burden (3% NSR) and dilution (12 million shares).
• Given the small cash component ($50k) relative to typical exploration budgets, the immediate financial impact is negligible.
• The related-party nature of the transaction requires scrutiny regarding asset valuation fairness compared to open market deals.

• Strategy: Canadian-based explorer focused on Sweden's Vasterbotten District ("Gold Line" and "Nickel Line") with recent expansion into British Columbia.
• Flagship Projects: Lappvattnet Nickel Project (Inferred resource ~177M lbs Ni) and Knaften-Hemberget Gold Project (High-grade intrusions).
• New Asset: Quesnel MagNickel property in Cariboo, BC adds geographic diversification but is currently untested by Gungnir's drilling.
• Infrastructure: Projects benefit from proximity to Boliden’s mill complex and existing transportation networks in Sweden; BC access noted as year-round.