Gladiator Intersects 26m @ 3.31% Cu Within 79m @ 1.37% Cu; Expands Mineralization at Cowley Park

SUMMARY

Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - Gladiator Metals Corp (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company") is pleased to announce further results received from its recent Cowley Park drill program targeting both resource definition and exploration upside of high-grade copper skarn mineralization. Results of the first four shallow holes on line 2 (see figure 1 below) were released October 3rd, 2024. Gladiator is pleased to report a further two holes returned (from line 3), ~250m east of Line 2, CPG-045 & CPG-049 (Figure 1). A further twenty-eight completed drillholes complete with assay results are anticipated in the coming months.

Significant Intercepts from CPG-045 & CPG-049:

• 79m @ 1.37% Cu from 71m (0.06 g/t Au, 4.38 g/t Ag & 261 ppm Mo) including 26m @ 3.31% Cu from 88m (0.06 g/t Au, 8.97 g/t Ag & 44 ppm Mo) - CPG-049

• 38m @ 1.01% Cu from 96m (0.06 g/t Au, 4.83 g/t Ag & 604 ppm Mo) including 12m @ 1.73% Cu from 96m (0.10 g/t Au, 7.75 g/t Ag & 1,052 ppm Mo) & 4m @ 2.50% Cu from 122 m (0.10 g/t Au, 11.15 g/t Ag & 1,051 ppm Mo) - CPG-045

Drilling was designed to test for significant high-grade copper and molybdenum mineralization that was truncated down-dip by historic hole "19-CP-04" that was interpreted to be inconsistent in terms of its mineralization encountered to the surrounding holes. CPG-049 (drilled as a twin of 19-CP-04), with additional mineralization intersected in CPG-045 confirms mineralization continues for over 220 metres down plunge on section (Figure 2).

Mineralization reported in CPG-045 & CPG-049 is further supported by geological logging of CPG-047 (assays pending), where semi-massive copper sulphide skarn mineralization has been logged over a >15m portion of core within a broader mineralized skarn interval of over at least 60 metres (Figure 3).

Gladiator CEO, Jason Bontempo, commented:"These results at CPG-049 & CPG-045 confirm our belief that copper mineralization including molybdenum, gold and silver at Cowley Park continues near surface, is high grade and remains open along strike and down dip in all directions with significant resource expansion opportunities both within AND outside the area of historic drilling. I am very much looking forward to receiving results from the 28 remaining drill holes from this summer's program over the next two months."

COWLEY PARK DRILLING

Gladiator has now completed 34 diamond drill holes (CPG-031 to 064) for 6,104m (Figure 1) at Cowley Park. This drill program was designed to:

• Confirm and test the continuity of near surface, high-grade copper mineralization along 4 systematic drill fences spaced 120-220m apart identified from previous drilling for future high-grade copper resource definition (Figure 1).

• Test new shallow, undrilled, chargeability anomalies identified from recently completed Induced Polarization (IP) surveys, potentially related to unrecognized copper sulphide bodies.

• Test significant exploration upside including extensions to known high-grade copper skarn mineralization and test sub-parallel trends recently identified in drilling.

• Test the previously unrecognized resource potential of the endoskarn copper mineralization at Cowley Park which has not been systematically targeted or sampled in historic drilling.

• Test the economic potential of complimentary co-products to copper mineralization including molybdenum, gold and silver.

CPG-049 & CPG-045 are the first holes returned from Line 3. CPG-049 was designed to test for significant high-grade copper and molybdenum mineralization that was truncated down-dip by historic hole "19-CP-04" that was interpreted to be inconsistent in terms of its mineralization encountered to the surrounding holes. CPG-049 (drilled as a twin of 19-CP-04), with additional mineralization intersected in CPG-045 confirms mineralization continues for over 220 metres down plunge on section (Figure 2).

Significant Intercepts from CPG-045 & CPG-049:

• 79m @ 1.37% Cu from 71m (0.06 g/t Au, 4.38 g/t Ag & 261 ppm Mo) including 26m @ 3.31% Cu from 88m (0.06 g/t Au, 8.97 g/t Ag & 44 ppm Mo) - CPG-049

• 38m @ 1.01% Cu from 96m (0.06 g/t Au, 4.83 g/t Ag & 604 ppm Mo) including 12m @ 1.73% Cu from 96m (0.10 g/t Au, 7.75 g/t Ag & 1,052 ppm Mo) & 4m @ 2.50% Cu from 122 m (0.10 g/t Au, 11.15 g/t Ag & 1,051 ppm Mo) - CPG-045

Mineralization reported in CPG-045 & CPG-049 is further supported by geological logging of CPG-047 (assays pending), where semi-massive copper sulphide skarn mineralisation has been logged over a >15m portion of core within a broader mineralized skarn interval of over at least 60 metres (Figure 3).

These results at CPG-049 & CPG-045 confirm Gladiator's belief that copper mineralization including molybdenum, gold and silver at Cowley Park continues near surface, is high grade and remains open along strike and down dip in all directions with significant resource expansion opportunities both within AND outside the area of historic drilling. Results from the 28 remaining drill holes of this summer's program are expected over the next two months.

Figure 1: Plan map of Cowley Park over LIDAR DTM. Gladiator drill collars colored by sum Cu% x Length (m), historical collars marked. Drill results subject to this release highlighted only

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/228004_glad0028a.jpg

Figure 2: Section (Line 3) through the Cowley Park prospect looking 280o (approximately West) showing all Gladiator drilling and recently returned assay results along the interpreted granite-skarn boundary. Section (Line 3) is marked on Figure 1 for reference.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/228004_glad0029a.jpg

Figure 3 - Hole CPG-047: Section of High-Grade Skarn Mineralization (Including Semi-Massive Sulphides) Down Dip from CPG-045 & CPG-049

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/228004_be7303fcb40ef9d7_005full.jpg

The results of CPG-049 & CPG-045 from line 3 are in addition to the recently released results (see news release dated October 3, 2024 from the first four shallow holes (along line 2), including:

• CPG-032: 48m @ 1.08% Cu from 38m including 30m @ 1.48% Cu and 0.13% Mo from 56m

• CPG-031: 52m @ 0.74% Cu from 77m including 8m @ 1.48% Cu and 0.13% Mo from 87m

• CPG-034: 14m @ 1.22% Cu from 7m including 6m @ 2.42% Cu from 9m

• CPG-035: 109.77m @ 0.77% Cu from 4.23m including 8m @ 2.57% Cu and 0.15% Mo from 8m plus 14m @ 1.31% Cu from 72m

All assays now received to date continue to show broad widths of near surface copper (+/-molybdenum-gold and silver) mineralization.

EXPLORATION STRATEGY

The recently completed drilling at Cowley Park (6,104m) formed part of a planned 13,000m, summer drilling campaign targeting high-grade copper skarns throughout the Whitehorse Copper Belt by way of:

1-Advancing Cowley Park to resource definition and expansion at:

• Cowley Resource Target: Establish initial drilling framework for Inferred Resource drilling at the Cowley Park Prospect.

• Cowley Exploration: Targeting upside potential for further copper-skarn mineralisation at Cowley Park.

• Chiefs Trend Resource Target: Highlight further high-grade, near-term Copper resource potential by testing Southern Target area.

2 - Exploration drilling at:

• Best Chance: First drill test of outcropping high-grade, magnetite-copper skarn mineralisation and test continuity of mineralisation between target and Arctic Chief. Gladiator reported on the 15th of October that it had completed a scout drill programme on the 10th October (7 holes for 1,295m) at the Best Chance prospect, where broad widths of mineralised skarn were intersected in holes ACG-007 & ACG-007D2, assays pending.

• Arctic Chief: Highlight continuity of high-grade near surface copper and gold mineralisation for future resource drilling.

• Cub Trend Exploration: Highlight continuity of high-grade, near surface, copper and gold mineralisation for future resource drilling.

Drilling has been complemented by planned geophysical programs including Induced Polarization (ongoing), Electromagnetic and Magnetic surveys to help refine drill targeting in the prospect areas and highlight undiscovered areas of exploration potential.

Table 1: Recently returned drill assay results from Cowley Park, Includes Quoted Intersections in Text & Figures from historical core. Note that the quoted Intersections are not true width.

QA / QC

Drilling completed by Gladiator was irregularly spaced to test parts of the mineralised systems, holes were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars were being subsequently surveyed utilising a high-accuracy RTK DGPS or DeviSite system.

Upon drilling of diamond core, Gladiator undertakes geological logging, marking up of lineal length of the core, recording core recovery, and Geotech measurements such as RQD's and taking core photographs.

Based on the geological logging, core is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half core retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the Laboratory. Samples are submitted to the ALS Global laboratory (Canada).

As part of the processing and capturing of the previously unassayed drill core, Gladiator is undertaking a systematic review of the available drill core after being retrieved from storage. This includes a review of the geological logging, marking up of lineal length of the core, undertaking a comparison of the physical ticketed sampling against historic documentation where noted, remarking any notations on the core box (including hole number, box number and nominal depths) and taking core photographs.

After the systematic review, if the core is required to be sampled or resampled where it is deemed to not match the historical record of the hole, it is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half (for un-cut core) or quartered (for resampled core where required) utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half (or quarter core) retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the laboratory. Samples are submitted to the ALS Global laboratory (Canada).

Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP61 (Aqua Regia with ICP-MS finish), with over limits for Cu analysed by method CU-OG62 (Aqua Regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. The QA/QC meets the current required standards under reporting instruments, such as NI-43-101. At this point, Gladiator regards the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.

As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. Further drilling will need to be completed by Gladiator at some stage to confirm the reliability or usability of this data in the future including but not limited to twinning of reported mineralization. This may be required as Gladiator may not be able to confirm the accuracy of the stated drill collar location or be able to re-enter the holes to confirm depths and undertake directional surveys, or that the QA/QC might not meet the current required standards under reporting instruments, such as NI-43-101. At this point the Company is treating the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.

In reference to historic drill results reported in this news release from the Company's data compilation exercise, these results are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results currently do not conform to presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Please refer to the Company's previous news releases regarding Cowley Park for further details.

In reference to Drill Hole 19-CP-04, Gladiator considers this hole to be inconsistent with the surrounding holes and will not be utilised by the Company, unless further validation of the hole is possible.

Qualified Person

All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, the Company's Vice President Exploration, a "qualified person" as defined by NI 43-101.

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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information..

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

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