Highlights

• Gladiator has completed a further 32 diamond drill holes for 5,623m at the Cowley Park Prospect on the Whitehorse Copper Belt, targeting extensions to high-grade Copper Skarn mineralization.
• Assay results have now been received for four shallow holes. Results include:
  • CPG-035: 8m @ 2.57% Cu and 0.15% Mo (3.72% CuEq) from 8m plus 14m @ 1.31% Cu (1.57% CuEq) from 72m within 109.77m @ 0.77% Cu (1.05% CuEq) from 4.23m
  • CPG-032: 30m @ 1.48% Cu and 0.13% Mo (1.72% CuEq) from 56m within 48m @ 1.08% Cu (1.72% CuEq) from 38m
  • CPG-031: 8m @ 1.48% Cu and 0.13% Mo (2.40% CuEq) from 87m within 52m @ 0.74% Cu (1.08% CuEq) from 77m
  • CPG-034: 6m @ 2.42% (3.15% CuEq) from 9m within 14m @ 1.22% Cu (1.60% CuEq) from 7m
• In addition, recent sampling of previously unassayed or partially assayed historical drill core from Cowley Park completed prior to the current diamond drill campaign returned significant intervals:
  • CP-140: 10.80m @ 3.64% Cu (4.31% CuEq) from 35.2m within 45m @ 1.36% Cu (1.76% CuEq) from 29m
  • CP-145: 38m @ 1.10% Cu (1.61% CuEq) from 23m
  • CP-147: 11.90m @ 1.05% Cu (1.13% CuEq) from 60.85m
  • CP-150: 17.18m @ 1.00% Cu (1.25% CuEq) from 86.94m and 9m @ 1.05% Cu (1.59% CuEq) from 112m

• Copper and molybdenum mineralization at Cowley Park remains open along strike and down dip in all directions. These assay results continue to demonstrate the continuity of near surface, high grade copper mineralization at Cowley Park and support the economic potential of complimentary co products to copper mineralization including molybdenum, gold and silver.

• This drilling is part of Gladiators dual strategy of advancing Cowley Park towards resource definition and targeting the upside potential of the known mineralization. Gladiator looks forward to updating the market with results from the remaining 28 completed drill holes in the coming weeks.

Gladiator CEO Jason Bontempo commented:

“Assay results returned continue to define the near surface continuity and scale of high-grade copper skarn mineralization at Cowley Park. These assay results also importantly provide further definition to the potentially significant coincident molybdenum-gold and silver mineralization which materially increases the potential value where credits can be applied.

Assay results include 4 holes that are the first from Gladiator’s recently completed campaign of 32 holes for 5,623m at Cowley Park are part of Gladiator’s fully funded 13,000m summer drilling campaign testing exploration targets and extensions to zones of known, high-grade, copper-skarn mineralization to demonstrate the near-term resource potential of our lead prospects including Cowley Park, Arctic Chief, Best Chance and the Cub trend.

I look forward to reporting the remainder of the assays from Cowley Park in the coming weeks.”

*Copper Equivalent (CuEq) was based on the following assumed metal prices on the 1^st October 2024 of $US 9.983 tonne Cu, $US2,662 Oz Au, $US31.00 Oz Ag & $US47,598 t Mo. Recovery is assumed to be 100% as no metallurgical test work has been completed. The equation used to CuEq is stated within the QAQC Section of this release.

Gladiator Metals Corp. (TSX-V: GLAD) (OTCQB: GDTRF) (FSE: ZX7) is pleased to provide an update on exploration activities at the Whitehorse Copper Project. Where 32 Diamond drillholes (CPG-031 -062) for 5,623m of drilling have now been completed at the Cowley Park prospect with assay results returned from the first 4 holes (refer Table 1 for details). Drilling was designed to target both confirmation of the resource potential and the exploration upside of the near surface high-grade copper skarn mineralization at Cowley Park.

Assay results from the first of 4 of a total of 32 holes (535m’s total) drilled by Gladiator include:

• CPG-031: 8m @ 1.48% Cu and 0.13% Mo (2.40% CuEq) from 87m within 52m @ 0.74% Cu (1.08% CuEq) from 77m
• CPG-032: 30m @ 1.48% Cu and 0.13% Mo (1.72% CuEq) from 56m within 48m @ 1.08% Cu (1.72% CuEq) from 38m
• CPG-034: 6m @ 2.42% (3.15% CuEq) from 9m within 14m @ 1.22% Cu (1.60% CuEq) from 7m
• CPG-035: 8m @ 2.57% Cu and 0.15% Mo (3.72% CuEq) from 8m plus 14m @ 1.31% Cu (1.57% CuEq) from 72m within 109.77m @ 0.77% Cu (1.05% CuEq) from 4.23m

These early assays results are from a continuous section line completed across the mineralized body, reducing drill spacing to approximately 35m between holes (Figures 1 & 2) to assess the prospect ahead of resource delineation drilling planned for 2025. Assays continue to show broad widths of near surface copper (+/-molybdenum-gold and silver) mineralization envelopes containing discrete and continuous higher grade (>1% Cu) zones of mineralization.

Assays are anticipated from a further four holes on the same section line in the coming weeks. These holes targeted the flattening of the granite-skarn contact, which is the primary control on copper mineralization, to the south. Results pending.

Although these results have yet to have been received, results returned recently from the sampling of historical hole CP-150 (including 17.18m @ 1.0% Cu (1.25% CuEq) from 86.94m and 9m @ 1.05% Cu (1.59% CuEq) from 112m) provides confidence that mineralization will extend beyond the currently drilled area.

Figure 1: Section A-A’ through the Cowley Park prospect looking 280^o showing all Gladiator drilling and all recently returned assay results and interpreted granite-skarn boundary. Section A-A’ is marked on Figure 2 for reference.

In addition, Gladiator completed further sampling of unassayed or partially assayed historical drill core from Cowley Park in preparation for the diamond drill campaign, sampling and assaying returned significant results that were previously unannounced, including:

• CP-140: 10.80m @ 3.64% Cu (4.31% CuEq) from 35.2m within 45m @ 1.36% Cu (1.76% CuEq) from 29m.
• CP-145: 38m @ 1.10% Cu (1.61% CuEq) from 23m
• CP-147: 11.90m @ 1.05% Cu (1.13% CuEq) from 60.85m
• CP-150: 17.18m @ 1.00% Cu (1.25% CuEq) from 86.94m and 9m @ 1.05% Cu (1.59% CuEq) from 112m

These results provide further context and confidence for Gladiators future drilling campaigns at Cowley Park.

Figure 2: 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.

Table 1: Recently returned drill assay results from Cowley Park along with recently returned assays from historical core.

Copper Equivalent (CuEq) was based on the following assumed metal prices on the 1st October 2024 of $US 9.983 tonne Cu, $US2,662 Oz Au, $US31.00 Oz Ag & $US47,598 t Mo. Recovery is assumed to be 100% as no metallurgical test work has been completed. The equation used to CuEq is stated within the QAQC Section of this release.

Cowley Park – Drill Targeting

The recently concluded diamond drilling at Cowley Park was designed to target:

• Southeastern Extension: Mineralization remains open under cover to the south-east of existing drilling.
• Northeastern Extension: The most north-easterly copper-skarn intercept at Cowley Park is 43.28m @ 2.24% Cu from 93.27m, including 13.72m @ 5.41% Cu (19-CP-08) with mineralization remaining open to the east under cover.
• Sub-Parallel Trends: Additional, unexplored sub-parallel trends under cover indicated by initial drilling including 10m @ 1.23% Cu from 204m in CPG-015.
• Western Extension: Recent mapping undertaken at Cowley Park has identified a significant fault that may have displaced the main mineralized body on the western side, opening up significant potential for the mineralization to extend west.
• Depth Extensions: Mineralization remains open at depth with the deepest intervals drilled to date, including 14.33m @ 1.22% Cu from 130.15m (18-CP-03) including 5m @ 2.78% Cu, remaining open at depth.
• Recently identified near surface chargeability anomalies identified from Induced Polarization (IP) surveys conducted at Cowley Park. These new chargeability anomalies may represent untested copper sulphide bodies.

Gladiator looks forward to updating the market in the coming weeks with results from a further 28 diamond holes (5,088m) completed and submitted to the laboratory for assay.

Exploration Strategy

The recently completed drilling at Cowley Park (5,623m) 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 to resource definition at:

• Cowley Resource Target: 3,000m. Establish initial drilling framework for Inferred Resource drilling at the Cowley Park Prospect.
• Chiefs Trend Resource Target: 1,500m. Highlight further high-grade, near-term Copper resource potential by testing Southern Target area.

2 – Exploration drilling at: Arctic Chief: 2,500m. Highlight continuity of high-grade near surface copper and gold mineralisation for future resource drilling.

• Best Chance: 1,500m. First drill test of outcropping high-grade, magnetite-copper skarn mineralisation and test continuity of mineralisation between target and Arctic Chief.
• Cowley Exploration: 2,000m. Targeting upside potential for further copper-skarn mineralisation at Cowley Park.
• Cub Trend Exploration: 2,500m. Highlight continuity of high-grade, near surface, copper and gold mineralisation for future resource drilling.

Drilling will be 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.

QA / QC

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

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 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.

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.