Mr. Jari Paakki reports

GUNGNIR RESOURCES ANNOUNCES AGM RESULTS

Gungnir Resources Inc.'s shareholders approved all the resolutions put before them at the company's annual general meeting held on Jan. 19, 2017, in Vancouver, B.C.

At the AGM, shareholders voted in favour of resolutions to:

• Set the number of directors at four (99.95 per cent);
• Re-elect Jari Paakki, Chris Robbins, Todd Keast and Garett Macdonald as directors for the ensuing year (over 97.70 per cent);
• Appoint DeVisser Gary LLP as the auditor for the ensuing year and authorize the directors to fix the auditor's remuneration (99.93 per cent);
• Reapprove the company's stock option 10-per-cent rolling plan (98.09 per cent).

Following the AGM, the board of directors reappointed Mr. Paakki as chief executive officer and Mr. Robbins as chief financial officer of the company. The company has also granted, in compliance with the company's stock option plan, 800,000 incentive stock options to purchase common shares of the company at five cents per share for five years to directors and consultants of the company.

The board of directors would like to thank the shareholders for their continuing support.

About Gungnir Resources

Gungnir Resources is a Canadian-based mineral exploration company with gold and base metal permits in northern Sweden, within a region hosting 12 million ounces of gold delineated in existing and mined resources, plus several past-producing and producing base metal mines. The company's key gold project, Knaften, is situated at the southern extension of the Gold Line which hosts a number of gold deposits including Faboliden, Barsele and Svartliden. The company additionally holds a $5-million royalty stream with five annual advance cash payments of $1-million expected to commence on or before May 1, 2017.

We seek Safe Harbor.