Gladiator Stakes New Copper Skarn Prospect at the Whitehorse Copper Project

HIGHLIGHTS:

• As part of Gladiator's ongoing regional project assessment the Company has staked 55 claims for an additional 11.3 km² of tenure encompassing the Jackson Copper-Skarn prospect 15km to the west of the Whitehorse Copper Project.

• The Jackson Copper-Skarn prospect covers more than 6 km of strike of the prospective contact between Cretaceous intrusive bodies and Triassic metasediments which is a primary control on the location of mineralization at the Whitehorse Copper Belt.

• Significant future exploration potential indicated at the Jackson Copper-Skarn prospect by shallow historical drill results intersecting high-grade copper (+/-gold and silver) skarns including:

  • KT-003: 6.12m @ 5.61% Cu, 1.03g/t Au and 247 g/t Ag from 55.14m.

  • KT-007: 10.67m @ 6.45 g/t Au from 71.02m within 21.88m @ 3.45 g/t Au.

  • M-001: 1.99m @ 4.0 g/t Au from 19.35m.

• Further, undrilled target areas highlighted by high-grade copper skarn mineralization exposed on surface including:

  • Franklin Target: Rock chip samples to 9.4% Cu (6.36g/t Au) and 30% Cu.

  • Hamilton Target: Rock Chip sampling to 3.48% Cu (10.4% Zn) and 1.64% Cu (41.9% Zn).

  • Janet Target: Rock Chip sampling to 7.85% Cu and 16.59 g/t Au associated with magnetite skarns and elevated Fe values.

• Initial airboune magnetics conducted by previous explorers highlight undrilled high-magnetic anomalies over more than 4.4 km of strike.

• Summer exploration programs including mapping and sampling have commenced in the area with drone magnetics planned for later in the season.

Gladiator CEO, Jason Bontempo commented:

"Gladiators ongoing regional project generation work has driven the staking of the highly prospective Jackson Copper Skarn prospect 15km to the west of current exploration on the Whitehorse Copper Belt and accessible by existing drill trails.

"Early exploration by previous explorers includes the identification of high grade copper skarn mineralisation on surface with grades of up to 30% Copper in rock chip sampling from trenching. This is coupled with historic drill results reporting up to 6.12m @ 5.61% Cu, 1.03 g/t Au and 247 g/t Ag and undrilled, outcropping mineralization indicated from mapping and rock chipping at multiple targets over 6km of strike. The staking covers the prospective contact between Cretaceous intrusive bodies and Triassic metasediments in the area.

"Gladiator has commenced summer exploration exploration programs and looks forward to updating the market with further news from the Whitehorse Copper Belt in the coming weeks."

Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company") is pleased to announce it has staked 55 claims for 11.3 km² at the Jackson Copper-Skarn Prospect (the "Jackson Prospect") located 15km to the west of existing claims at the Whitehorse Copper Project.

Jackson Prospect

The recent staking of the Jackson Prospect area covers approximately 6 km of prospective contact between Cretaceous intrusive bodies and Triassic metasediments which is the primary control on the formation of high grade copper (+/-gold/silver) skarn mineralization in the Whitehorse Copper district.

Areas of outcropping magnetite-copper skarn mineralization within the Jackson Prospect area have been subject to intermittent exploration by historical explorers including spatially constrained soil sampling, mapping, trenching and approximately 1,901m of diamond drilling in 24 drillholes.

This historical work is supported by limited airbourne magnetics conducted by Precision Geophysics in 2014 which have highlighted more than 4.4 km of untested magnetic anomalism coincident with high magnetic response, areas of outcropping magnetite-copper skarns and the mapped contact between Cretaceous intrusions and Triassic limestones (see Figure 1 below). This highlights the underexplored prospectivity of the Jackson prospect area which will be the subject of summer exploration programs.

Gladiator has compiled the historic drilling at the Jackson Project in the 1970's and 80's (refer to Table 1 below for details). This collation identified high-grade magnetite copper-gold-silver skarn mineralization, that is strongly associated with the high-tenor magnetic anomalism with results including:

• KT-003: 6.12m @ 5.61% Cu, 1.03g/t Au and 247 g/t Ag from 55.14m.

• KT-007: 10.67m @ 6.45 g/t Au from 71.02m within 21.88m @ 3.45 g/t Au.

• M-001: 1.99m @ 4.0 g/t Au from 19.35m.

Drilling may have been improperly aligned to the mineralization, given that drilling was focused on a WNW line semi perpendicular to the magnetic anomaly (Figure 1) resulting in some holes being drilled over the top or under the targeted mineralsaztion. Gladiator believes that significant potential remains by re-orientation the drill lines (SW-NE). A complete list of drill holes and their results are detailed in Table 2.

Figure 1: Inset map - location of recently staked Jackson Prospect (Red) 15km to the West of Existing Gladiator tenements (blue). Main Local area geology and location of drilling, historical airbourne magnetic anomalism plus surface sampling and drilling highlights. Geophysics is 2014 TMI surveyed by Precision Geophysics.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/211058_38a04f9704aa8812_002full.jpg

Outside of the drilled area, further, undrilled and underexplored mineralized target areas remain and are highlighted by high-grade copper skarn mineralization exposed on surface for over 6 km and include:

• Franklin Target: Located more than 2.6km to the east of historic drilling with rock chip samples in trenching to 9.4% Cu (6.36g/t Au) and 30% Cu.

• Hamilton Target: Rock Chip sampling in a road cut parallel to historic drilling with highlights including 3.48% Cu (10.4% Zn) and 1.64% Cu (41.9% Zn).

• Janet Target: Located approximately 700m to the east of historic drilling. Previous claim holder completed rock chip sampling within a trench and on surface. In total 6 samples were collected. Results from sampling returned up to 7.85% Cu, 16.59 g/t Au & 292 g/t Ag. Samples were associated with elevated Fe supporting that magnetics can be utilized as a direct targeting tool. Results are tabeld below:

Table 1: Rock Chip Sampling from the historical BA-14 Claim completed in May 2001. Documented in Assesment report 094262 (https://data.geology.gov.yk.ca/AssessmentReport/094262#InfoTab)

Copper Equivalent (CuEq) was based on the following assumed metal prices on the 26 May 2024 of $US 10,204 per tonne Cu, $US2,357 per Ounce Au & $US30.36 per Ounce Ag. Recovery is assumed to be 100% as no metallurgical test work has been completed.

Table 2: Jackson Prospect Significant Intersections (Historic Holes & Intersections quoted in text and Figures in this release).

Copper Equivalent (CuEq) was based on the following assumed metal prices on the 26 May 2024 of $US 10,204 per tonne Cu, $US2,357 per Ounce Au & $US30.36 per Ounce Ag. Recovery is assumed to be 100% as no metallurgical test work has been completed. 

QA / QC

The drill results and rock chip samples reported in this news release 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 and rock chip sampling do not conform to the presently accepted industry standards. Gladiator considers these results relevant as the Company will use this data as a guide to plan future exploration 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.

Drill holes were drilled at various dips on variable, prospect specific, nominal grids. Gladiator obtained the drill records and logs from the Yukon Geological Survey archives, Yukon Archives & Other Government & Non-Government Sources which may or may not include copies of the original assay files and or certificates with results tabulated in the drill log or an analytical sheet. Data has then been digitally captured within an industry standard database and validated.

For Specific references to Rock Chip sampling, this release has relied on data and information from the following assessment reports as follows:

• Franklin Target - Rock Chips from Assessment reports #091899 & #093897 https://data.geology.gov.yk.ca/AssessmentReport/091899#InfoTab https://data.geology.gov.yk.ca/AssessmentReport/093897#InfoTab

• Hamilton Taget - Rock Chips collected in text and collated on plan from Assessment Report #091899 https://data.geology.gov.yk.ca/AssessmentReport/091899#InfoTab

Where Copper Equivalents have been stated, assumptions of the pricing are referenced in the tabulated results and recovery is assumed to be 100% as no metallurgical data is available. The following equation was used to calculate copper equivalence:

Copper Equivalent (CuEq) = ((Cu% * CuPrice 1% Per Tonne) + (Au (g/t) x (AuPrice/31.105)) + (Ag (g/t) x (AgPrice/31.105)) +(Mo% * MoPrice 1% Per Tonne)) / CuPrice 1% Per Tonne

Given the proximity to Whitehorse, the Jackson Prospect will benefit from all year access, excellent infrastructure and a strong relationship with local partners for drilling services and developing positive community relations.

Qualified Person

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

ON BEHALF OF THE BOARD

"Jason Bontempo"
Jason Bontempo
President and CEO

For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
[email protected]

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