Gungnir Resources' Lappvattnet Nickel Project Designated a "Property of National Interest" in Sweden

Rhea-AI Summary

Gungnir Resources (OTCPK:ASWRF) announced its Lappvattnet Nickel Project was designated a Property of National Interest by the Swedish Geological Survey on December 8, 2025. The designation protects Lappvattnet from competing land uses, may streamline permitting, and could improve the company's ability to attract partners and investment.

Project highlights include Lappvattnet: 780,000 tonnes at 1.35% Ni (10.5M kg) and Rormyrberget: 36.8M tonnes at 0.19% Ni (70M kg), collectively ~80M kg nickel; permits valid to early January 2027; a 2% GSR royalty option available for CDN$8M to Altius Minerals.

Positive

• Lappvattnet resource 780,000 t @ 1.35% Ni (10.5M kg)
• Rormyrberget resource 36.8M t @ 0.19% Ni (70M kg)
• SGU designation protects project from competing land uses
• Royalty option 2% GSR for CDN$8M with Altius

Negative

• Existing licenses expire in early January 2027
• Company needs additional funding to advance projects
• Board is searching for a new CEO, management gap

Key Figures

Permit area: 471.3 hectares Drilling completed: 7,345 metres Drill holes: 53 holes +5 more

8 metrics

Permit area 471.3 hectares Lappvattnet and Rormyrberget permit coverage

Drilling completed 7,345 metres First drill program at Lappvattnet from 2021 to 2023

Drill holes 53 holes Lappvattnet drilling from 2021 to 2023

Lappvattnet resource 780,000 tonnes @ 1.35% nickel Inferred Resource, 23.1M lbs (10.5M kg) nickel

Rormyrberget resource 36,800,000 tonnes @ 0.19% nickel Inferred Resource, 154M lbs (70M kg) nickel

Total nickel 177 million pounds Combined Lappvattnet and Rormyrberget nickel resources (2020 update)

Royalty option 2% GSR for C$8 million Royalty option purchase agreement with Altius Minerals

License validity to early January 2027 Existing licenses for both nickel deposits

Market Reality Check

Price: $0.0396 Vol: Volume 7,000 is well belo...

low vol

$0.0396 Last Close

Volume Volume 7,000 is well below the 20-day average of 67,800, indicating limited pre-news trading interest. low

Technical Shares are noted as trading below the 200-day MA at 0.02, despite the positive project designation.

Peers on Argus

Sector peers showed mixed moves: BADLANDS RES INC up 1.26%, GOLDCLIFF RES CORP u...

Sector peers showed mixed moves: BADLANDS RES INC up 1.26%, GOLDCLIFF RES CORP up 3.58%, while STOCKWORKS GOLD INC fell 6.02%. With no clear directional consensus and no momentum flags, ASWRF’s reaction appears more stock-specific.

Historical Context

1 past event · Latest: Sep 04 (Neutral)

1 events

Date	Event	Sentiment	Move	Catalyst
Sep 04	Leadership change	Neutral	+3.9%	CEO and Director resignation effective September 30, 2025, with board-led transition.

Recent Company History

Over the past several months, the most notable prior event was the announced resignation of Gungnir’s CEO and Director, effective September 30, 2025, after which the stock rose 3.89% over 24 hours. Today’s news highlights the Lappvattnet nickel project’s designation as a "Property of National Interest" in Sweden and reiterates the company’s ongoing CEO search and strategic review, including potential partnerships and asset transactions.

Market Pulse Summary

This announcement highlights Sweden’s "Property of National Interest" designation for Lappvattnet, u...

Analysis

This announcement highlights Sweden’s "Property of National Interest" designation for Lappvattnet, underlining the strategic significance of Gungnir’s nickel assets totaling 177 million pounds of nickel. It also reiterates ongoing CEO recruitment and potential partnerships, mergers, or asset transactions. Investors may focus on license validity to early January 2027, future funding decisions, and how management changes influence advancement of both the nickel and Knaften-Hemberget gold projects.

Key Terms

inferred resource, ni 43-101, technical report, royalty option purchase agreement, +1 more

5 terms

inferred resource technical

"Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel"

An inferred resource is an early-stage estimate of how much mineral material may be present and its likely quality, based on limited sampling and basic geological patterns rather than detailed data. It matters to investors because it indicates potential upside but carries high uncertainty—like a rough hand-drawn map that hints at treasure but needs much more surveying and testing before anyone can count on its value for planning or valuation.

ni 43-101 regulatory

"The NI 43-101 Technical Report entitled "TECHNICAL REPORT on the LAPPVATTNET"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

technical report technical

"The NI 43-101 Technical Report entitled "TECHNICAL REPORT on the LAPPVATTNET"

A technical report is a detailed, expert-written document that explains the methods, data, results and risks behind a company’s engineering, scientific or operational claim — for example estimates of resources, product testing, or project feasibility. Investors use it like an independent inspection or blueprint: it reveals how solid the underlying work is, what assumptions were made and what could go wrong, helping assess value and risk before committing money.

royalty option purchase agreement financial

"subject to a royalty option purchase agreement for 2% GSR for CDN$8 million"

A royalty option purchase agreement is a contract that gives a buyer the right, but not the obligation, to buy future royalty payments tied to a product, patent, mineral right, or other revenue stream at a preset price or under set conditions. Investors care because it lets them bet on or secure predictable income from those future payments—like reserving the option to buy a slice of a business’s future cash flow—while limiting their upfront commitment and defining potential return and risk.

earn-in arrangement financial

"through traditional financing, an earn-in arrangement, or a potential merger or asset sale"

An earn-in arrangement is a deal where one party gradually gains ownership or control of an asset by meeting agreed milestones, such as investing cash, spending on development, or achieving technical or regulatory goals. Investors care because the arrangement shifts risk and potential reward—much like a rent-to-own plan, the party earning in assumes upfront costs and risks while the original owner retains upside if milestones aren’t met, affecting future ownership, cash flow, and value.

AI-generated analysis. Not financial advice.

SURREY, BC / ACCESS Newswire / December 8, 2025 / Gungnir Resources Inc. (GUG:TSX-V)(ASWRF:OTCPK) ("Gungnir" or the "Company") is pleased to announce that its Lappvattnet Nickel Project has been officially designated a "Property of National Interest" by the Swedish Geological Survey (SGU).

This designation is highly significant, as it provides protection for Lappvattnet from competing land uses that could hinder future mining activities. It also represents a major milestone for the Company, with the potential to streamline future permitting processes and strengthen Gungnir's ability to attract partners and investment for ongoing exploration and development.

Lappvattnet and Rormyrberget Nickel

The Lappvattnet and Rormyrberget nickel deposits are located along the "Nickel Line" in the eastern part of the Vasterbotten District, 60 km and 100 km respectively east of the Company's Knaften gold exploration project. The deposits are held 100% by Gungnir under two separate permits covering an area of 471.3 hectares. The properties are accessible year-round with good transportation and industrial infrastructure including shipping facilities as there are a number of active mines in the area. Gungnir acquired both deposits in open staking in 2015. Existing licenses covering both deposits are currently valid to early January 2027.

Two of the top nickel sulphide deposits in Sweden

• Company's first drill program at Lappvattnet initiated in August, 2021; drilled a total of 7,345 metres in 53 holes in from 2021 to 2023

• Collectively contain 80 million kg of nickel (using historic results from the 1970s):

- Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs (10.5 million kg) of nickel.

- Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs (70 million kg) of nickel.

• 100% Gungnir subject to a royalty option purchase agreement for 2% GSR for CDN$8 million from Altius Minerals (Lappvattnet and Rormyrberget together)

• Accessible year-round with good transportation and industrial infrastructure including shipping facilities, and are located about an hour drive from Boliden's mill complex

• Potential to expand the deposit beyond the current 2020 Lappvattnet nickel resource, in particular the shallow down-plunge extension target in the eastern half of the property where historic drilling is very sparse

• Recently discovered Footwall Zone at Lappvattnet offers further upside potential at Lappvattnet

Nickel resources totally 177 million pounds of nickel for Lappvattnet and Rormyrberget were updated in 2020.

• Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs (10.5 million kg) of nickel.

Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs (70 million kg) of nickel.

The NI 43-101 Technical Report entitled "TECHNICAL REPORT on the LAPPVATTNET and RORMYRBERGET DEPOSITS, NORTHERN SWEDEN" was prepared by Reddick Consulting Inc. Qualified Persons are John Reddick, M.Sc., P.Geo., and Thomas Lindholm, M.Sc., Fellow AusIMM. The Effective Date is November 17, 2020.

Please refer to the Company's website at www.gungnirresources.com for further information.

Corporate Update

The Board of Directors continues its search for a new CEO and will provide updates as appropriate in accordance with applicable securities laws. In the interim, the remaining Board members will oversee discussions with interested parties regarding the Company's future initiatives, including potential additions to the Board and management team, new partnerships, and possible asset transactions.

Advancing the Company's projects will require successfully strengthening the Board and management team and securing additional funding - whether through traditional financing, an earn-in arrangement, or a potential merger or asset sale. Gungnir's Knaften-Hemberget projects host multiple gold and base-metal exploration targets, ranging from drill-ready gold prospects to early-stage anomalies, supported by a large, under-explored land position along the Swedish Gold Line. The Company continues to seek new leadership candidates and manage its capital prudently to remain compliant with all regulatory requirements.

About Gungnir Resources

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V, ASWRF: OTCPK) with gold and base metal projects in northern Sweden. Gungnir's assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, the Knaften-Hemberget project which hosts a developing intrusion-hosted gold system, a newly discovered gold target at Hemberget, and base metal targets, including copper. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

On behalf of the Board,

Chris Robbins, CFO and Director

For further information contact:

Head Office/Investor Relations
Phone: +1-604-683-0484
Email: corporatecommunications@gungnirresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: timing of all planned exploration work; expectations that archived field locations mineralization are correct and available for sampling; expectations of successfully raising funds, an earn-in type arrangement or possibly an equitable merger for significant project advances; and Gungnir's plan for development of its properties and the timing thereof.

Forward-looking information is based on a number of key expectations and assumptions made by Gungnir, including, without limitation: access to the projects will remain available; transportation and infrastructure will remain available as anticipated; no change to laws or regulations that negatively affect Gungnir's business; there will be a demand for Gungnir's services and products in the future; Gungnir will be able to operate its business as planned and extend certain licences; Gungnir will be able to access capital markets on and successfully complete financings on terms it determines to be reasonable; and Gungnir's plans for future exploration and development of its properties is reasonable and will be possible within the anticipated timelines. Although the forward-looking information contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: no certainty that any economically viable mineral deposit or new targets will be located on Gungnir's properties; that Gungnir may not be able to complete its planned work as anticipated; the impacts of war and/or other international conflicts; ability to access capital markets and complete successful financings on terms Gungnir determines to be reasonable; environmental matters; changes in legislation or regulations; receipt of required licences, permits and approvals; and resource estimates may not be accurate and may differ significantly from actual mineral resources. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. The forward-looking information contained this news release is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Gungnir. The forward-looking information is stated as of the date of this news release and Gungnir assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

SOURCE: Gungnir Resources Inc.

View the original press release on ACCESS Newswire

FAQ

What does the SGU "Property of National Interest" designation mean for ASWRF's Lappvattnet project?

The designation protects Lappvattnet from competing land uses and may streamline future permitting for the project.

How much nickel is in Gungnir's Lappvattnet and Rormyrberget deposits (ASWRF)?

Lappvattnet: 10.5M kg Ni; Rormyrberget: 70M kg Ni; collectively about 80M kg nickel.

When do Gungnir's existing permits for Lappvattnet and Rormyrberget expire (ASWRF)?

The existing licenses covering both deposits are valid to early January 2027.

What is the royalty option affecting ASWRF's Lappvattnet and Rormyrberget assets?

A 2% gross smelter return (GSR) royalty may be purchased for CDN$8 million by Altius Minerals.

How might the SGU designation affect ASWRF's ability to attract partners or funding?

The designation could strengthen the project's permitting profile and make it more attractive to partners and investors.