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Gladiator's 2024 drilling has identified:

• significant upside identified down dip and along strike associated with high-grade mineralization (exoskarn), including results of 98m @ 1.49% Cu from 103m (0.04 g/t Au, 3.68 g/t Ag & 187 ppm Mo) including 20m @ 5.53% Cu from 145m (0.07 g/t Au, 11.47 g/t Ag & 229 ppm Mo), or 14m @ 7.67% Cu from 145m (0.07 g/t Au, 15.16 g/t Ag & 217 ppm Mo) - CPG-047

• broad intersections of newly identified endoskarn (intrusive associated) mineralization, found to be consistent with or better than observed in historic drilling. The wider intervals were further enhanced with the addition of previously unassayed complimentary co-products to copper including molybdenum, gold, and silver.

Gladiator CEO, Jason Bontempo commented: "Cowley Park continues to exceed our initial expectations. Completion of the 2024 drill season has not only confirmed broader intervals of copper mineralization but has confirmed continuity of higher grade exoskarn mineralization that now appears opens along strike and at depth, leading us to believe mineralization has the potential to extend well beyond our previous geological interpretation. Additional drone magnetics and IP work completed in 2024 is being compiled and interpreted to better understand 2025 exploration targets that have the potential to expand Cowley Park."

COWLEY PARK DRILLING

Gladiator completed 34 diamond drill holes (CPG-031 to 064) for 6,104m at Cowley Park (Table 1 & Figure 1) during its late 2024 drilling. Drilling was designed to:

• Confirm and test the continuity of near surface, high-grade copper mineralization along four systematic drill fences (Section Lines) spaced 120-220m apart identified from previous drilling for future high-grade copper resource definition (Figure 1).

• Test new shallow, undrilled, chargeability anomalies identified from recently completed Induced Polarization (IP) surveys, potentially related to unrecognized copper sulfide bodies.

• Test significant exploration upside including extensions to known high-grade copper skarn mineralization and test sub-parallel trends recently identified in drilling.

• Test the previously unrecognized resource potential of the endoskarn copper mineralization at Cowley Park which has not been systematically targeted or sampled in historic drilling.

• Test the economic potential of complimentary co-products to copper mineralization including molybdenum, gold, and silver.

Figure 1: Plan map of all drilling at Cowley Park over LIDAR DTM. All drill collars completed by Gladiator to date colored by sum Cu% x Length (m), historical collars marked as light-colored dots.

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Drilling completed by the Company has significantly advanced it's understanding of the localised geology and provided a greater understanding of the mineralization controls, specifically those related to the high-grade exoskarn mineralization. This is further enhanced by CPG-049 (drilled as a twin of 19-CP-04) that was designed to test for significant high-grade mineralization believed to be truncated by historic hole "19-CP-04". This historic hole was, subsequently interpreted to be inconsistent in terms of its mineralization and geology when compared to the surrounding holes returning:

• 98m @ 1.49% Cu from 103m (0.04 g/t Au, 3.68 g/t Ag & 187 ppm Mo) including 20m @ 5.53% Cu from 145m (0.07 g/t Au, 11.47 g/t Ag & 229 ppm Mo), or 14m @ 7.67% Cu from 145m (0.07 g/t Au, 15.16 g/t Ag & 217 ppm Mo)- CPG-047

• 79m @ 1.37% Cu from 71m (0.06 g/t Au, 4.38 g/t Ag & 261 ppm Mo) including 26m @ 3.31% Cu from 88m (0.06 g/t Au, 8.97 g/t Ag & 44 ppm Mo) - CPG-049

• 38m @ 1.01% Cu from 96m (0.06 g/t Au, 4.83 g/t Ag & 604 ppm Mo) including 12m @ 1.73% Cu from 96m (0.10 g/t Au, 7.75 g/t Ag & 1,052 ppm Mo) & 4m @ 2.50% Cu from 122 m (0.10 g/t Au, 11.15 g/t Ag & 1,051 ppm Mo) - CPG-045

CPG-049, supported by additional mineralization intersected in CPG-045 and CPG-047 suggests mineralization continues for at least 220 metres from near surface down dip on Line 3 (Figure 4), remaining open at depth and to the east and west along strike. These holes confirm Gladiator's belief that copper mineralization including molybdenum, gold and silver at Cowley Park continues near surface, is high-grade and remains open along strike and down dip in all directions with significant resource expansion opportunities both within AND outside the area of historic drilling.

The Company is also looking at targeting strike extensions and the potential of the higher-grade mineralization to continue east towards historic drilling (Figure 1) that returned:

• 15.85m @ 6.37% Cu from 84.43m, Including 12.5m @ 8.02% Cu from 85.04m - 18-CP-04 (collared ~60m east of Section Line 3) and

• 43.28m @ 2.24% Cu from 93.27m, Including 13.72m @ 5.41% Cu from 109.42m - 19-CP-08 (collared ~110m east of CPG-047-049). Refer to Press Release dated May 8, 2024

Section Line 1

Section Line 1 was designed to follow up on drilling completed by Gladiator in 2023 that returned significant broad mineralized intersections and elevated Au, Ag & Mo, Including:

• 20m @ 1.43% Cu from 42m (0.07 g/t Au, 3.96 g/t Ag & 254 ppm Mo) within 71m @ 0.72% Cu from 32m (0.04 g/t Au, 2.08 g/t Ag & 143 ppm Mo) - CPG-001

• 13m @ 1.44% Cu from 28m (0.31 g/t Au, 10.53 g/t Ag & 1,564 ppm Mo) and 33m @ 1.48% Cu from 71m (0.25 g/t Au, 8.31 g/t Au & 404ppm Mo) within 113m @ 0.79% Cu from 19m (0.13 g/t Au, 4.75 g/t Ag & 464 ppm Mo) - CPG-002

• 5m @ 1.23% Cu from 9m (0.12 g/t Au, 10.44 g/t Ag & 1,121 ppm Mo) and 13.2m @ 2.26% Cu from 22.8m (0.34 g/t Au, 17.96 g/t Au & 833 ppm Mo) - CPG-003

Drilling confirmed the presence of a bounding structure (interpreted fault) on the northern side of the mineralization (CPG-052) and that the previous interpretation of the mineralization flattening at depth and returning to surface on the southern portion of the system ("Bowl" Interpretation) appears to be incorrect. Mineralization within the endoskarn is now interpreted as being defined by the brittle deformation within the skarn and is moderately steeply dipping (to the south).

Drilling returned a best result of:

• 8m @ 1.07% Cu from 85m (0.36 g/t Au, 8.03 g/t Ag & 2,032 ppm Mo) within 28m @ 0.56% Cu from 79m (0.12 g/t Au, 3.30 g/t Ag & 956 ppm Mo) - CPG-055
  
  

Figure 2: Section (Line 1) through the Cowley Park prospect looking 280^o (20m Window approximately West) showing only Gladiator drilling and recently returned assay results along the interpreted granodiorite-skarn boundary. Section (Line 1) is marked on Figure 1 for reference.

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Section Line 2

Drilling on Section Line 2 confirmed the broad nature of the endoskarn mineralization as identified in historic drilling on the western side of the mineralized area. Drilling highlighted the economic potential of complimentary co-products to copper mineralization including molybdenum (up to 1,482 ppm), gold (up to 0.35 g/t), and silver (up to 18.17 g/t). Select drilling intercepts returned:

• 8m @ 1.48% Cu from 87m (0.23 g/t Au, 8.5 g/t Ag & 1,347ppm Mo) within 52m @ 0.74% Cu from 77m (0.09 g/t Au, 4.07 g/t Ag & 473 ppm Mo) - CPG-031

• 30m @ 1.48% Cu from 56m (0.21 g/t Au, 8.39 g/t Ag & 1,308ppm Mo) within 48m @ 1.08% Cu from 38m (0.15 g/t Au, 6.18 g/t Ag & 951ppm Mo) - CPG-032.

• 109.77m @ 0.77% Cu from 4.23m (0.07 g/t Au, 3.92 g/t Ag & 369ppm Mo), Including 8m @ 2.57% Cu from 8m (0.30 g/t Au, 18.17 g/t Ag & 1,482ppm Mo) and 14m @ 1.31 % Cu from 72m and 4m @ 1.36% Cu from 108m (0.06 g/t Au, 4.8 g/t Ag & 919ppm Mo) - CPG-035
  
  

Figure 3: Section (Line 2) through the Cowley Park prospect looking 280^o (20m Window approximately West) showing only Gladiator drilling and recently returned assay results along the interpreted granodiorite-skarn boundary. Section (Line 2) is marked on Figure 1 for reference.

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Section Line 3

Section Line 3 drilling was defined to test for high grade extensions to mineralization within the exoskarn that was believed to extend west of historic drilling, including:

• 15.85m @ 6.37% Cu from 84.43m, Including 12.5m @ 8.02% Cu from 85.04m - 18-CP-04 (Collared ~60m East Section Line 3) and

• 43.28m @ 2.24% Cu from 93.27m, Including 13.72m @ 5.41% Cu from 109.42m - 19-CP-08 (Collared ~110m East of CPG-047-049)

Initial interpretation had this high-grade mineralization closed off due to hole 19-CP-04 that returned only minor mineralization. Hole CPG-049 (drilled as a twin of 19-CP-04) was designed to test for significant high-grade mineralization that was truncated by historic hole "19-CP-04". This historic hole was, subsequently interpreted to be inconsistent in terms of its mineralization and geology when compared to the surrounding holes and is now believed to be not correctly located (collar data incorrect).

Drilling completed on Section Line 3 (see Figure 4), intersected significant high-grade mineralization over broad widths in CPG-045, CPG-047 and CPG-049 supporting mineralization continuing for at least 220 metres from near surface down dip whilst remaining open at depth, to the west and towards the East (18-CP-04 and 19-CP-08), significant results include:

• 98m @ 1.49% Cu from 103m (0.04 g/t Au, 3.68 g/t Ag & 187 ppm Mo) including 20m @ 5.53% Cu from 145m (0.07 g/t Au, 11.47 g/t Ag & 229 ppm Mo), or 14m @ 7.67% Cu from 145m (0.07 g/t Au, 15.16 g/t Ag & 217 ppm Mo)- CPG-047

• 79m @ 1.37% Cu from 71m (0.06 g/t Au, 4.38 g/t Ag & 261 ppm Mo) including 26m @ 3.31% Cu from 88m (0.06 g/t Au, 8.97 g/t Ag & 44 ppm Mo) - CPG-049

• 38m @ 1.01% Cu from 96m (0.06 g/t Au, 4.83 g/t Ag & 604 ppm Mo) including 12m @ 1.73% Cu from 96m (0.10 g/t Au, 7.75 g/t Ag & 1,052 ppm Mo) & 4m @ 2.50% Cu from 122 m (0.10 g/t Au, 11.15 g/t Ag & 1,051 ppm Mo) - CPG-045

• 20m @ 1.22% Cu from 118m (0.03 g/t Au, 5.29 g/t Ag & 317ppm Mo) within 52m @ 0.73% Cu from 88m (0.04 g/t Au, 4.56 g/t Ag & 255ppm Mo) - CPG-051

Hole CPG-018 (drilled by Gladiator in 2023) intersected minor skarn mineralization over the last 1.6m of the hole (200.1 to 202.69m EOH). With the results of CPG-047, mineralization is now interpreted to remain open at depth, and Gladiator plans to further test the down dip potential of this zone by extending CPG-018 upon the restart of drilling in January 2025.

A further 5 holes (CPG-037, 039 & 042-044) were drilled to the west of Section Line 3 to further test historic drilling, drilling returned:

• 36m @ 1.23% Cu from 49m (0.22 g/t Au, 7.53 g/t Ag & 494 ppm Mo), Including 6m @ 1.53% Cu from 61m (1.02 g/t Au, 13.10 g/t Ag & 262 ppm Mo) - CPG-039

• 24m @ 1.05% Cu from 84m (0.07 g/t Au, 7.02 g/t Ag & 978 ppm Mo) within 32m @ 0.90% Cu from 82m (0.06 g/t Au, 6.02 g/t Ag & 942 ppm Mo) - CPG-037

• 14m @ 0.57% Cu from 55m (0.03 g/t Au, 5.46 g/t Ag & 22 ppm Mo) and 4m @ 0.52% Cu from 9m (0.03 g/t Au, 4.60 g/t Ag & 1,011 ppm Mo) - CPG-042

These holes confirm Gladiator's belief that copper mineralization including molybdenum, gold and silver at Cowley Park is near surface, is high-grade and remains open along strike and down dip in all directions, meaning significant opportunities exists to expand the potential of Cowley to host a significant resource both within AND outside the area of historic drilling.

Figure 4 Section (Line 3) through the Cowley Park prospect looking 280^o (20m Window approximately West) showing only Gladiator drilling and recently returned assay results along the interpreted granodiorite-skarn boundary. Section (Line 3) is marked on Figure 1 for reference.

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Section Line 4

Section Line 4 drilling will be enhanced through the application for further drill permits expected to be received in 2025. Optimal targeted drilling was not achieved during this drill period, however broad intervals of mineralization were intersected east of what is believed to be part of the predicted eastern extents of the main mineralized area. Mineralisation remains open to the east with significant intercepts including:

• 36m @ 0.58% Cu from 117m (0.07 g/t Au, 4.03 g/t Ag & 263 ppm Mo) - CPG-056

• 50m @ 0.47% Cu from 60m (0.07 g/t Au, 3.31 g/t Ag & 385 ppm Mo) - CPG-058

See Figure 1: Plan map of Cowley Park over LIDAR DTM for the drill collar locations

Exploration Drilling

In addition to the four Section Lines completed by Gladiator, a further 9 holes were completed to test exploration upside within and external to the known mineralized system.

Three holes (CPG-033, 062 & 063) were completed to the east (~350m East of Section Line 3) of the known mineralized system returning encouraging results, including:

• 22m @ 1.02% Cu from 117m (0.10 g/t Au, 11.25 g/t Ag & 319ppm Mo) within 38m @ 0.84% Cu from 109m (0.08 g/t Au, 8.03 g/t Ag & 253 ppm Mo) - CPG-033

• 10m @ 1.04% Cu from 103m (0.22 g/t Au, 8.48 g/t Ag & 1,955 ppm Mo) within 50m @ 0.54% Cu from 67m (0.07 g/t Au, 4.02 g/t Ag & 557 ppm Mo) - CPG-062

A further hole (CPG-064) was drilled to test a geophysical target south of the known mineralized system, the hole whilst intersecting minor skarn mineralization, returned no significant assays.

Processing of Historic Core

Gladiator is nearing completion of the processing of the available historic drill core for Cowley Park that was inherited on acquisition of the project. The historic core has continued to deliver potential upside, returning significant intercepts including:

• 23.04m @ 1.59% Cu from 74.98m (0.15 g/t Au, 10.28 g/t Ag & 460 ppm Mo) plus 4.88m @ 3.45% Cu from 81.38m (0.30 g/t Au, 25.45 g/t Ag & 949ppm Mo) & 4.75m @ 1.91% Cu from 93.27m (0.15 g/t Au, 7.6 g/t Ag & 594 ppm Mo) within 31.09m @ 1.27% Cu from 71.02m (0.12 g/t Au, 8.34 g/t Ag & 374 ppm Mo) - 18-CP-06

• 13.30m @ 2.10% Cu from 48.70m (0.08 g/t Au, 12.06 g/t Ag & 761 ppm Mo) including 8.00m @ 3.02% Cu from 50m (0.11 g/t Au, 18.30 g/t Ag & 981 ppm Mo) - CP-142

• 40.20m @ 1.74% Cu from 32.30m (0.11 g/t Au, 7.57 g/t Ag & 515 ppm Mo) - CP-144

The confirmation of co-product credits, historically never assayed for, offers an opportunity to significantly enhance the economic potential of the deposit.

Table 1: All drill assay results from recently completed drilling & sampling of historic drill core at Cowley Park. Note that the quoted Intersections are not true width.

QA / QC

Drilling completed by Gladiator is irregularly spaced to test parts of the mineralized systems, holes were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars are subsequently surveyed utilising a high-accuracy RTK DGPS or DeviSite 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 at least 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 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.

In reference to Drill Hole 19-CP-04, Gladiator considers this hole to be inconsistent with the surrounding holes and will not be utilised by the Company, unless further validation of the hole is possible.

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.

ON BEHALF OF THE BOARD

"Jason Bontempo"

Jason Bontempo
Director and CEO

For further information contact:
Olav Langelaar, VP Corporate Development
+1-604-961-6511
olangelaar@gladiatormetals.com

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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