Mr. Dan Stuart reports

JUGGERNAUT FILES TO CLOSE FIRST TRANCHE FINANCING WITH CONTINUED SUPPORT BY BOTH CRESCAT CAPITAL & DR. QUINTON HENNIGH TECHNICAL ADVISOR

Further to the news release of Nov. 6, 2023, Juggernaut Exploration Ltd. has filed documents with the TSX Venture Exchange for approval to close the first tranche of its non-brokered financing for 12,092,616 units. Crescat Capital LLC and Dr. Quinton Hennigh personally have subscribed to this institutionally supported financing. This is a follow-on investment by Crescat, previously announced on May 12, 2023. Postclosing of this financing, Crescat will retain a significant portion of the company, and Juggernaut welcomes this additional strategic investment. Dr. Hennigh has long provided his technical support to the projects, and the company looks forward to his continuing guidance. Juggernaut's projects continue to garner strong interest and support from leading institutions and miners alike globally, confirming the quality of its three fully permitted, 100-per-cent-controlled, drill-ready projects, Midas, Empire, and Bingo, located in the world-class geologic terrane of northwestern British Columbia encompassing the Golden Triangle.

Dr. Hennigh is a special technical adviser to the company and technical and geologic director of Crescat. Dr. Hennigh is a world-renowned exploration geologist with more than 30 years of experience, including with major gold mining firms Homestake Mining, Newcrest Mining and Newmont Mining.

Dr. Hennigh stated: "Juggernaut had a very successful exploration season in 2023. Over the past couple of years, the company's exploration team diligently accumulated high-quality data to define drill targets with maximum chance of success at the flagship Midas precious-metal-rich [volcanogenic massive sulphide] project near Terrace, B.C. That work paid off this year when Juggernaut encountered long intervals of stockwork feeder mineralization, displaying considerable sulphides, including chalcopyrite. This program has confirmed the presence of a sizable, strong VMS system at Midas. We anxiously await results from this encouraging drill program."

Dan Stuart, director, president and chief executive officer of Juggernaut, stated: "We are pleased to strengthen our ongoing relationship with both Crescat Capital as a strategic investor and Dr. Hennigh as a special technical adviser and personal investor. We look forward to continuing to work with our partners, who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and continued strategic partnership, coupled with the ongoing support and interest from other globally recognized institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100-per-cent-controlled properties. Postfinancing, Juggernaut will have a tight capital structure of just 77,941,760. As such, we are well positioned to move forward with our plans of further drilling on Midas, Empire and Bingo. With much anticipation, we look forward to releasing drill results once received, complied with, and interpreted by, the technical team."

The company may pay finders' fees of the gross proceeds from the financing in cash and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.

About Crescat Capital LLC

Crescat is a global macroasset management firm headquartered in Denver, Colo. Crescat's mission is to increase and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macromodels. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes global macro, long/short, large-capitalization and precious metal funds.

Crescat is advised by its technical consultant, Dr. Hennigh, on investments in gold and silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD in geology/geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major gold mining firms, including Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp. and is serving as chairman. Among his notable project involvements are First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming and Lion One's Tuvatu gold project in Fiji, among many others.

The use of proceeds from this financing is for an option payment requirement related to Bingo, due Dec. 30, 2023. Bingo is located next door to its sister company, Goliath Resources' Surebet discovery. Bingo contains the same world-class geological units, including Hazelton volcanics and related sediments and intrusives, as well as completion of Midas and Empire interpretation, and general working capital.

The financing will consist of up to 15.4 million units, priced at 13 cents each for gross proceeds of up to $2,002,000. Each unit will consist of one common share plus one warrant to purchase one common share at 25 cents for a 36-month period with a conversion option at management's discretion. Management may exercise at $1 upon 10 consecutive trading at or above.

About Juggernaut Exploration Ltd.

Juggernaut is a precious metal project generator in the geopolitically stable jurisdiction of Canada, focused on the prolific geologic setting of northwestern British Columbia encompassing the Golden Triangle.

We seek Safe Harbor.