Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ('Gladiator' or the 'Company') is pleased to announce initial results from its maiden drilling campaign at the Cowley Park prospect at the Whitehorse Copper Project.

Gladiator has completed a 2,632m maiden diamond drilling program at the Cowley Park prospect ('Cowley Park') and has received initial assays results from the first 7 of 14 holes.

All holes returned significant intercepts confirming the width and continuity of mineralization previously targeted at Cowley Park with mineralization remaining open in all directions, with results including:

CPG-006: 16m @ 2.36% Cu from 79m within

92m @ 0.71% Cu from 67m

CPG-002: 13m @ 1.44% Cu and 0.15% Mo from 28m and; 33m @ 1.48% Cu from 71m within; 113m @ 0.79% Cu

CPG-003: 13.2m @ 2.26% Cu from 22.8m

CPG-001: 20m @ 1.43% Cu from 42m within 71m @ 0.72% Cu from 32m

CPG-004: 10m @ 1.68% Cu from 87m within 28m @ 0.91% Cu from 87m

CPG-010: 26m @ 1.14% Cu from 86m

These shallow results confirm the continuity of copper skarn mineralization at Cowley Park as well as highlighting the potential for a larger mineralized envelope, not previously considered, or tested by previous operators.

Importantly, these assay results highlight the previously unrecognized potential of the endoskarn copper mineralization at Cowley Park which has not been systematically targeted or assayed in historic drilling.

Multi Element Assays confirms high grade coincident Molybdenum. The recent assay results also highlight significant zones of molybdenum mineralization coincident with the copper mineralization.

Copper mineralization remains open along strike and down dip in all directions at Cowley Park.

The Company is advanced in its planning to complete a further 2,000 m of diamond drilling based on initial observations from diamond core drilled to date. This program will be aimed at testing strike and depth extensions to mineralization providing Gladiator with a better understanding of the identified parts of the mineralized system where limited or no assaying was undertaken within the historical drilling.

Gladiator CEO, Jason Bontempo commented: Gladiator is pleased to announce initial results from the recently completed 2,632m maiden diamond drill campaign. These results highlight the rapid progress Gladiator has made in the first three months since acquiring the rights to the Whitehorse Copper Project and is testament to the hard work of the team on the ground.

Results from Gladiators sampling continues to define the continuity and scale of copper mineralisation at Cowley Park as well as providing further definition to the potentially significant coincident Molybdenum mineralisation. The broad widths of mineralisation, surrounding the higher-grade intervals were not typically assayed by previous operators and Gladiator believes that these have significant potential.

The recent drilling has also identified significant widths and grades of copper mineralisation within the endoskarn which was not previously targeted by previous operators.

As well as updating the market in the coming weeks with the remainder of the assays from the maiden diamond drill campaign Gladiator has already begun planning for follow up diamond drilling which will be targeting extensions to historically defined mineralisation at Cowley Park. We also look forward to announcing results from the remainder of our data compilation of historic drilling as well as further assays from previously unlogged and unsampled core.'

Cowley Park - Maiden Drilling Campaign

Gladiators 2632m, 14-hole maiden diamond drilling campaign was completed on May 19th and initial assay results from the program have now been received for seven of the holes. Significant drill intercepts include: CPG-006: 16m @ 2.36% Cu from 79m within 92m @ 0.71% Cu from 67m CPG-002: 13m @ 1.44% Cu and 0.15% Mo from 28m and; 33m @ 1.48% Cu from 71m within; 113m @ 0.79% Cu CPG-003: 13.2m @ 2.26% Cu from 22.8m

CPG-001: 20m @ 1.43% Cu from 42m within 71m @ 0.72% Cu from 32m

CPG-004: 10m @ 1.68% Cu from 87m within 28m @ 0.91% Cu from 87m

CPG-010: 26m @ 1.14% Cu from 86m

Cu Mineralization Width and Grade Confirmed

These results confirm the width and continuity of mineralization previously targeted at Cowley Park with mineralization remaining open in all directions. Results such as 16m @ 2.36% Cu in CPG-006 and 13.2m @ 2.26% Cu in CPG-003 compare favorably to previously announced historical drill intercepts (refer Company's news releases dated February 13 2023, April 3, 2023 and May 15 2023) such as:

CP-003: 16.76m @ 2.27% Cu from Surface

CP-053: 27.7m @ 2.74% Cu from 8.69m, Including 7.83m @ 8.34% Cu from 23.93m

CP-119: 36.27m @ 2.28% Cu from 72.24m

CP-125: 23.32m @ 3.53% Cu from 51.51m

19-CP-08: 43.28m @ 2.24% Cu from 93.27m

New results from the recently completed drilling campaign demonstrates the potential for this style of mineralization. This has become evident when current drilling is compared against selectively assayed historical drilling in neighboring holes. For example, recently completed drill hole CPG-002 returned 113m @ 0.79% Cu from 19m, compared against historic drill hole CP-039 that returned 62.49m @ 0.65% cu from 42.67m.

Multi Element Assays confirms high grade coincident Molybdenum

The recent assay results also highlight significant zones of molybdenum mineralization coincident with the copper mineralization. Significant intervals from recently completed drilling includes:

CPG-002: 13m @ 1.44% Cu and 0.15% Mo from 28m

CPG-003: 5m @ 1.23% Cu and 0.11% Mo from 9m

These results are supported by recently announced results from Gladiators multi-element sampling program of previously unassayed core at Cowley Park with results including (refer Company's news releases dated February 13, 2023, April 3, 2023 and May 15 2023):

19-CP-01: 10.54m @ 1.87% Cu, 0.16% Mo

19-CP-01: 19.81m @ 1.19% Cu, 0.13% Mo

19-CP-05: 27m @ 0.68% Cu and 0.23% Mo from 97m

Molybdenum was not systematically assayed for in the historical drilling and Gladiator intends to add co-product value to the project through the inclusion of this and other potentially contributing elements including silver and gold.

Exploration Update

The Company's exploration program at the Whitehorse Copper Project for 2023 is categorized into three parts which includes: The Company has recently completed its maiden 2,632m diamond drilling program and a further 2000m is in an advanced planning stage, scheduled to commence in July. Identified mineralisation at Cowley remains open along strike and down dip.

In addition to the Company's own diamond drilling above, Gladiator will continue its program of logging and assaying approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The 10,000 metres of core mostly relates to drilling at Cowley Park but also includes drilling at other prospect areas including North Star, Grafters and Verona which are situated in the Best Chance to North Star trend and includes the former Little Chief Mine.

Gladiator will also assay for molybdenum, gold, silver, and other elements which were not historically systematically assayed for, along with incorporating potentially lower grade mineralised material within or adjacent to significant mineralised widths that was often not assayed in the past to allow for future assessment of modern bulk mining potential.

The Company is also carrying out a systematic consolidation of the historic drilling and mining activity representing the first time a comprehensive review of regional datasets has been undertaken since the last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. Gladiator to date has identified over 800 historical surface drill holes drilled by Hudson Bay Mining & Smelting Co Ltd., Yankee Hat Minerals Ltd., Lobo Del Norte Ltd and the Vendor H.Coyne & Sons Ltd which were logged and selectively assayed. This includes 219 holes for approximately 25,000 metres completed at the Cowley Park Prospect which were reported to the market on April 3, 2023. As compilation and digitisation is completed the Company will release the results of this historical drilling by prospect area along the Whitehorse Copper belt.

Regional Exploration

Work completed to date has identified more than 30, drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is highly prospective for high-grade copper+/-molybdenum+/-silver+/- gold.

ABOUT GLADIATOR METALS CORP.

Gladiator Metals Corp. is a mineral exploration company focused on the advancement of multiple high- grade copper prospects at its Whitehorse Copper Project (the 'Project'), an advanced-stage copper (Cu) +/- molybdenum (Mo) +/- silver (Ag) +/- gold (Au) skarn exploration project in the Yukon Territory, Canada. The Project comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.

Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it came to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a northwesterly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore were milled (Watson, 1984).

The Project is accessible through numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.

In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project by incurring exploration expenditure of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.

Contact:

Tel: 1-604-653-9464

Email: dzinger@gladiatormetals.com

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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