Gungnir Resources Inc.

------Fold

==> picture [106 x 59] intentionally omitted <==

Security Class

Holder Account Number

Form of Proxy - Annual General Meeting to be held on Wednesday, December 22, 2021

This Form of Proxy is solicited by and on behalf of Management.

Notes to proxy

Every holder has the right to appoint some other person or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a person or company other than the Management Nominees whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).
If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. If you are voting on behalf of a corporation or another individual you may be required to provide documentation evidencing your power to sign this proxy with signing capacity stated.
This proxy should be signed in the exact manner as the name(s) appear(s) on the proxy.
If a date is not inserted in the space provided on the reverse of this proxy, it will be deemed to bear the date on which it was mailed to the holder by Management.
The securities represented by this proxy will be voted as directed by the holder, however, if such a direction is not made in respect of any matter, and the proxy appoints the Management Nominees listed on the reverse, this proxy will be voted as recommended by Management.
The securities represented by this proxy will be voted in favour, or withheld from voting, or voted against each of the matters described herein, as applicable, in accordance with the instructions of the holder, on any ballot that may be called for. If you have specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.
This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting and Management Information Circular or other matters that may properly come before the meeting or any adjournment or postponement thereof, unless prohibited by law.
This proxy should be read in conjunction with the accompanying documentation provided by Management.

Proxies submitted must be received by 11:00 am, Pacific Time, on Monday, December 20, 2021.

VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!

==> picture [144 x 38] intentionally omitted <==

----- Start of picture text -----

To Vote Using the Telephone
----- End of picture text -----

Call the number listed BELOW from a touch tone telephone.

1-866-732-VOTE (8683) Toll Free

==> picture [144 x 38] intentionally omitted <==

----- Start of picture text -----

To Vote Using the Internet
----- End of picture text -----

==> picture [43 x 44] intentionally omitted <==

Go to the following web site:
www.investorvote.com
Smartphone? Scan the QR code to vote now.

If you vote by telephone or the Internet, DO NOT mail back this proxy.

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual. Voting by mail or by Internet are the only methods by which a holder may appoint a person as proxyholder other than the Management Nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.

To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.

CONTROL NUMBER

------Fold

==> picture [15 x 15] intentionally omitted <==

Appointment of Proxyholder

I/We being holder(s) of securities of Gungnir Resources Inc. (the “Corporation”) hereby appoint: Jari Paakki, or failing this person, Chris Robbins (the "Management Nominees")

Print the name of the person you are appointing if this person is someone other than the Management Nominees listed herein.

==> picture [148 x 30] intentionally omitted <==

as my/our proxyholder with full power of substitution and to attend, act and to vote for and on behalf of the holder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and on all other matters that may properly come before the Annual General Meeting of shareholders of the Corporation to be held at the Boardroom, Suite 404, 4th Floor, 1688 - 152 Street, Surrey, British Columbia on Wednesday, December 22, 2021 at 11:00 am, Pacific Time, and at any adjournment or postponement thereof.

VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.

1.Number of Directors					For	Against
To set the number of Directors at four (4).
							-------
2.Election of Directors	For	Withhold	For	Withhold	For	Withhold	Fold
01. Jari Paakki		02. Chris Robbins		03. Todd Keast
04. Garett Macdonald
					For	Withhold
3.Appointment of Auditors
Appointment of DeVisser Gray, LLP as the Auditors of the Corporation for the ensuing year and			authorizing the Directors to fix their remuneration.
					For	Against

4. Stock Option Plan

To re-approve the 2019 Stock Option Plan a 10% rolling plan.

==> picture [15 x 15] intentionally omitted <==

Signature of Proxyholder

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, and the proxy appoints the Management Nominees, this Proxy will be voted as recommended by Management.

Signature(s)

==> picture [148 x 29] intentionally omitted <==

Date

==> picture [94 x 20] intentionally omitted <==

Interim Financial Statements - Mark this box if you would Annual Financial Statements - Mark this box if you would like to receive Interim Financial Statements and like to receive the Annual Financial Statements and accompanying Management’s Discussion and Analysis by accompanying Management’s Discussion and Analysis by mail. mail.

==> picture [15 x 15] intentionally omitted <==

If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist.

==> picture [15 x 15] intentionally omitted <==

A S W Q

3 3 3 6 3 1

A R 1

AI assistant

Gungnir Resources Inc. AGM Information 2021

44546_rns_2021-11-25_1c048c85-79e1-40c3-baad-84911c4cf65f.pdf