Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V) (“Gungnir” or the “Company”) is pleased to announce that Garett Macdonald, P.Eng. has been appointed to the Gungnir Board of Directors effective July 14, 2015.

Mr. Macdonald is an accomplished mining executive with 20 years of industry experience including an extensive background in project development and mine operations. From 2009-2014 he led feasibility and development activities for the 325,000 oz/year Rainy River Project in NW Ontario, serving as Vice President of Operations for Rainy River Resources and as project director for New Gold after the $310M acquisition of Rainy River.  Previously, Mr. Macdonald held mine operations and project engineering roles with Suncor Energy and Placer Dome Inc.  Garett is based in Toronto where he is leading eastern Canadian business operations for JDS Energy & Mining Inc.  He is a graduate of Laurentian University (mining engineering) and holds an MBA from the University of Western Ontario’s Ivey School of Business.    

The Company granted 450,000 incentive stock options to purchase common shares of the Company at $0.05 per share for five (5) years to directors of the Company. The grants are subject to acceptance by the TSX Venture Exchange.

The Company also announces that Blair Zaritsky has resigned as a member of the Board of Directors.

We would like to thank Mr. Zaritsky for his service to the Company.

On behalf of the Board,

Jari Paakki, CEO and Director

About Gungnir Resources:

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal claim holdings in northern Sweden. The Company also holds a $5,000,000 royalty stream with five annual advance cash payments of $1,000,000 commencing in 2017. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.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.

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.

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