Table 1: Cowley Park Significant Intersections (Recent Logging & Sampling of Historic Holes & Intersections quoted in text and Figures in this release).

Copper Equivalent (CuEq) was based on the following assumed metal prices on the 21 April 2024 of $US 9.876 per tonne Cu, $US2,390 per Ounce Au, $US28.69 per Ounce Ag & $US43,725 per tonne Mo. Recovery is assumed to be 100% as no metallurgical test work has been completed.

For further details on quoted mineralization intersected in drilling contained in this release, plus any relevant information regarding QAQC can be found at:

• “Gladiator Discovers New Zone of Copper Mineralization at Cowley Park”
  – News Release dated December 11, 2023
• “Gladiator Metals Announces Results of Maiden Drill Program at Cowley Park Copper Prospect”
  – News Release dated July 24, 2023.
• “Gladiator Metals Intersects Copper in Maiden Drill Campaign at Cowley Park”
  – News Release dated June 5, 2023.
• “Gladiator Metals Assays 32.92m @ 2.08% Copper from Historical Drill Core at Cowley Park”
  – News Release dated May 15, 2023.
• “Gladiator Metals Samples 12.5m @ 8.02% Copper at the Cowley Park and Commences Drilling at the Whitehorse Copper Project”
  – News Release dated April 27, 2023.
• “Gladiator Metal Announces Additional High-Grade Copper Drill Intercepts”
  – News Release dated April 3, 2023.

QA / QC

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 are then crushed to 70% passing less than 2mm before pulverizing to better than 85% passing 75 microns. Samples are then analysed by ALS method ME-ICP41 (Aqua Regia with ICP-MS finish) or ME-ICP61 (Aqua Regia with ICP-AES finish), with over limits for Cu analysed by method CU-OG46 (Aqua Regia with ICP-MS finish). Au is analysed by ALS method Au-AA25 (Ore grade Fire Assay 30g with AA 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. 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.

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

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]

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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