Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the “Company”) is very pleased to announce that it has received the first of five, $1,000,000 annual advance royalty payments due from the sale of the Kenville Gold project (“Kenville”) to 0995237 BC Ltd. in 2014.
The next (second) $1,000,000 payment is due on or before April 30, 2018.
The remaining payments are secured by a Royalty Agreement registered on title to the Kenville Gold project and a Specific Security Agreement registered under the Personal Property Registry, British Columbia.
About Gungnir Resources
Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing base metal mines. The Company’s key gold project, Knaften, is situated at the southern extension of the “Gold Line” which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals). The Company additionally holds a $5,000,000 royalty stream with five annual advance cash payments of $1,000,000 expected to commence on or before May 1, 2017. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.
