Gladiator Resources : Updated Announcement - Exploration at Minjingu and Mikuju

ASX Announcement 4 March 2022

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UPDATED ANNOUNCEMENT - EXPLORATION PROGRAM PROGRESSING AT

MINJINGU AND MIKUJU

HIGHLIGHTS

• Ground radiometric survey (of 1,971.6 line kilometres) completed at 296.9km2 Minjingu Uranium Project in northern Tanzania.
• Survey delineates a zone of 7.5km by 2.5km within which there are discrete areas of radiometric anomalism.
• Plan to ground truth the anomalies with a view to including new targets in the upcoming drill program
• Memorandum of Understanding (MOU) executed to facilitate sampling of stockpiles on adjoining Minjingu Phosphate Mining License
• Awaiting assay results from ALS Johannesburg on selected samples from 2 completed drill holes and final regulatory approvals to accelerate exploration programs at Minjingu and its flagship Mkuju Uranium project.

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to report that its wholly owned subsidiary (subject to final regulatory approvals) Zeus Resources (T) Limited (Zeus) has substantially progressed activity at its Minjingu Uranium Project located in Northern Tanzania and is now well positioned to accelerate the program once final regulatory approvals are obtained and its acquisition of Zeus becomes unconditional.

Gladiator Resources Chairman Ian Hastings commented:

"The Company has now completed radiometric ground survey at its Minjingu Uranium Project in the North of Tanzania with very positive results and has identified areas of radiometric anomalism for further investigation. These will be ground truthed by geological mapping and pit sampling and potentially incorporated into a planned expanded drill program (ASX:GLA 24 January 2022) expected to commence shortly. Zeus has also executed an MOU with the owners of the adjoining Mining License which will facilitate the sampling of stockpiles. All of these initiatives should bolster the Minjingu Project substantially."

Minjingu - (Uranium, Phosphate) 100% Gladiator

The Minjingu Uranium and Phosphate Project covers a total area of 296.9km2 and is located in Northern Tanzania, 106km southwest of Arusha the main administrative city in the area and 520km northwest of Dar es salaam. The Minjingu Project area possesses solid infrastructure such as quality tarmac roads, power lines, airport services via both Arusha and Kilimanjaro International airports and ample water resources.

As previously reported (ASX:GLA 24 January 2022) the planned maiden Reverse Circulation (RC) drilling program at Minjingu which was designed to evaluate historical intercepts (reported by Montero Mining and Exploration Ltd: ((TSX.V: MON)) in 2007) encountered difficult ground conditions necessitating a change from RC to Aircore drilling causing some delay. This provided an opportunity to complete the ground radiometric survey which has now been completed with encouraging results. The Company completed the 1,971.6 line kilometre survey along east-west oriented 100m spaced lines collecting a total (non-spectral) dose reading every 10 seconds using a GF Instruments (Gamma Surveyor). The results are illustrated in figure 1 and identify discrete anomalous zones within a larger 7.5km by 2.5km area of elevated dose. The discrete anomalies are up to 4-5 km in length and seem to surround the Minjingu phosphate Mine Lease where uranium mineralisation is known to occur.

Gladiator Resources Ltd. | www.gladiatorresources.net | ASX: GLA

4/91 William Street | Melbourne VIC | T: [phone]

ASX Announcement

4 March 2022

personal use only
For	Figure 1 - The new Minjingu ground radiometric data.

The priority holes drilled being 21MJRC001 and 21MJRC002 are shown on figure 1 with samples dispatched to ALS Johannesburg) for analysis.

The Company has also finalised an MOU and completed discussions with Minjingu Mines and Fertilizer Limited (MMFL) who hold the adjoining Mining License on which it has actively mined Phosphate for many years. Under the terms of the MOU the companies will work together to identify mutual opportunities including the testing of historical stockpiles on MMFL's license for Uranium which is expected to bolster the opportunity at Minjingu.

www.gladiatorresources.net

ASX Announcement 4 March 2022

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Figure 2 - Gladiator Project locations in Tanzania

Regulatory approvals still pending

The Company's acquisition of Zeus remains conditional on the granting of all necessary regulatory approvals by the Tanzanian Government and the Company is awaiting final approval by the Fair Competition Commission which is expected to be granted shortly. Until received and the Company's acquisition of Zeus is completed, the Company is assisting Zeus financially by way of a secured loan to undertake works at Minjingu in the North and to finalise planning for its principal project at Mkuju in the South, expected to commence at the end of the wet season. The Company has already appointed three directors to the Zeus board and will increase its direct involvement once final approvals are received and the acquisition completes with an expected focus over the balance of 2022 on the Mkuju Uranium project in Southern Tanzania.

-ENDS-

www.gladiatorresources.net

ASX Announcement 4 March 2022

For personal use only

Released with the authority of the Board.

For further information please visit: www.gladiatorresources.net

contact:

Ian Hastings	Andrew Draffin	Mark Flynn
Chairman	Company Secretary	Investor Relations
[e-mail]	[e-mail]	[e-mail]
[phone]	[phone]	[phone]

Competent Person's Statement

Information in this "ASX Announcement" relating to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves has been compiled by Mr Andrew Pedley who is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP). Mr Pedley is an Associate with the MSA Group of Johannesburg who are providing consulting services to Gladiator Resources Ltd. Mr Pedley has sufficient experience that is relevant to the types of deposits being explored for and qualifies as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code 2012 Edition). Mr Pedley consents to the inclusion in this document of the matters based on the information in the form and context in which it appears. Mr Pedley does not currently hold any securities in the company, either directly or indirectly.

About Gladiator Resources

Gladiator is an ASX listed (ASX: GLA) exploration and mining company with a focus on gold and uranium.

The Company was recently granted seven exploration licenses covering over 1,764km2 of highly prospective exploration tenements located in Tanzania, East Africa.

Gladiator also has three gold projects in Australia including Marymia located in Western Australia and Rutherglen and Bendoc which are each located in Victoria.

All the Company's projects are located in areas that have experienced significant exploration attention and investment whilst also recording highly encouraging results. Victoria, in particular, is currently experiencing a revival in exploration and production which is attracting significant investment attention both domestically and abroad. The Company's primary focus is to advance its current portfolio of projects whilst also evaluating other opportunities that are complimentary.

www.gladiatorresources.net

ASX Announcement 4 March 2022

For personal use only

JORC Code, 2012 Edition - Table 1

Sampling Techniques and Data

Criteria	JORC Code explanation		Commentary
Sampling	• Nature and quality of sampling (e.g., cut channels,
techniques	random chips, or specific specialised industry	• No physical samples were collected. The data is
	standard measurement tools appropriate to the	geophysical, collected using a handheld device whilst
	minerals under investigation, such as down hole	walking in the field.
	gamma sondes, or handheld XRF instruments,	• The position and dose were stored digitally and
	etc). These examples should not be taken as	transferred to PCs daily using Gamma Surveyor
	limiting the broad meaning of sampling.		Transfer software.
	• Include reference to measures taken to ensure
	sample representivity and the appropriate
	calibration of any measurement tools or systems
	used.
	• Aspects of the determination of mineralisation that
	are Material to the Public Report.
	• In cases where 'industry standard' work has been
	done this would be relatively simple (e.g., 'reverse
	circulation drilling was used to obtain 1 m samples
	from which 3 kg was pulverised to produce a 30 g
	charge for fire assay'). In other cases, more
	explanation may be required, such as where there
	is coarse gold that has inherent sampling
	problems. Unusual commodities or mineralisation
	types (e.g., submarine nodules) may warrant
	disclosure of detailed information.
Drilling	• Drill type (e.g., core, reverse circulation, open-hole	• No drilling activities were undertaken
techniques	hammer, rotary air blast, auger, Bangka, sonic,
	etc) and details (e.g., core diameter, triple or
	standard tube, depth of diamond tails, face-
	sampling bit or other type, whether core is oriented
	and if so, by what method, etc).
Drill sample	• Method of recording and assessing core and chip	• No drilling activities were undertaken
recovery	sample recoveries and results assessed.
	• Measures taken to maximise sample recovery and
	ensure representative nature of the samples.
	• Whether a relationship exists between sample
	recovery and grade and whether sample bias may
	have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	• Whether core and chip samples have	been	• No drilling activities were undertaken
	geologically and geotechnically logged to a level of
	detail to support appropriate Mineral Resource
	estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in
	nature. Core (or costean, channel,	etc)
	photography.
	• The total length and percentage of the relevant
	intersections logged.
Sub-sampling	• If core, whether cut or sawn and whether quarter,	• No chemical assays were undertaken
techniques and	half or all core taken.
sample	• If non-core, whether riffled, tube sampled, rotary
preparation	split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

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