GUG Gungnir Resources Inc

Gungnir Resources Inc. (TSX VENTURE:GUG) ("Gungnir" or the "Company") has closed
its previously announced non-brokered private placement financing by issuing
1,600,000 units (the "Units") of the Company at a price of $0.05 per Unit for
gross proceeds of $80,000. Each Unit will consist of one (1) common share of the
Company priced at $0.05 and one (1) warrant (a "Warrant"). Each Warrant entitles
the holder to acquire an additional common share for thirty-six (36) months from
the closing at a price of $0.05 per common share. No finder fees were paid in
connection with the private placement.


Insiders of the Company subscribed for $30,000 of the total proceeds for 600,000
Units. The insider private placements are exempt from the valuation and minority
shareholder approval requirements of Multilateral Instrument 61-101 ("MI
61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of
MI 61-101 in that the fair market value of the consideration for the securities
of the Company to be issued to the insiders does not exceed 25% of its market
capitalization.


Subsequent to the private placement, the Company announces the grant of
2,450,000 incentive stock options to purchase common shares of the Company at
$0.05 per share for five (5) years to directors and officers of the Company
under the terms of the 2014 stock option plan approved by shareholders of the
Company at the last Annual General and Special Meeting held on April 11, 2014.


All securities issued pursuant to the private placement and stock options grant
are subject to a statutory four month hold period and regulatory approval.


ON BEHALF OF THE BOARD OF DIRECTORS,

Jari Paakki, P.Geo., CEO

About Gungnir Resources:

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration
company focused on advancing its newly acquired gold exploration projects in
Sweden, the top rank global mining jurisdiction (2013 Fraser Institute survey).
The Sweden properties cover 225 sq. km in a region of northern Sweden hosting 12
million ounces of gold delineated in existing and mined resources plus several
past-producing and producing mines. The Company is financed into 2015 and holds
a $5M royalty stream set at five (5) annual $1M advanced payments starting in
2017. 


Further information about the Company may be found at www.gungnirresources.com
or at www.sedar.com. 


Cautionary Note Regarding Forward-Looking Statements: Certain statements made
herein may contain forward-looking statements or information within the meaning
of Canadian securities laws. Such forward-looking statements or information
include, but are not limited to, statements or information with respect to
Gungnir Resources' plan for future exploration and development of its
properties. Forward-looking statements or information are based on a number of
estimates and assumptions and are subject to a variety of risks and
uncertainties, which could cause actual events or results to differ from those
reflected in the forward-looking statements or information. Should one or more
of these risks and uncertainties materialize, or should underlying estimates and
assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements or information. For example, there is no
certainty, that any economically viable mineral deposit will be located on the
properties, or that the Company will be able to raise sufficient capital to
complete all of its exploration programs. Accordingly, undue reliance should not
be placed on forward-looking statements or information. Gungnir does not expect
to update forward-looking statements or information continually as conditions
change, except as may be required by securities law.


Neither 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gungnir Resources Inc.
Chris Robbins
CFO
604-683-0484
robbinscr@shaw.ca


Gungnir Resources Inc.
Jari Paakki
CEO
jpaakki@eastlink.ca

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