Vancouver – May 30, 2018 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the “Company”) is pleased to announce that it has received the second of five, $1,000,000 annual advance royalty payments. The first annual payment of $1,000,000 was received May 1, 2017. The next (third) $1,000,000 payment is due on or before April 30, 2019.

Drilling in Sweden on the Company’s Knaften property is expected to commence on June 4, 2018. Initial drill-testing will focus on areas in the south-half of the property including near-surface gold mineralization at the Knaften 300 Gold Zone. For target areas, please refer to the Company’s Corporate presentation on Gungnir’s website: www.gungnirresources.com.