Mr. Dan Stuart reports

JUGGERNAUT APPROVED TO CLOSE FINANCING

Further to its Nov. 30, 2023, news release, Juggernaut Exploration Ltd. has received approval from the TSX Venture Exchange to close its previously announced (Nov. 6, 2023, Nov. 20, 2023, and Nov. 30, 2023) private placement financing, issuing 13,495,076 units for aggregate gross proceeds of $1,754,360.

Each unit consists of one common share of the company and one common share purchase warrant, each warrant being exercisable for an additional common share of the company at an exercise price of 25 cents for 36 months from the date of issue, subject to the right of the company to accelerate the exercise period to 30 days if, after the expiry of the four-month hold, shares of the company close at or above $1.00 for 10 consecutive trading days.

The financing was effected with one insider, subscribing for $50,000.08, or 384,616 units, that portion of the private placement a related-party transaction as such term is defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction, as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25 per cent of the company's market capitalization. The company has paid cash finder's fees totalling $12,129 and issued 93,300 non-transferable broker warrants as follows: National Bank Financial -- $904.80 cash and 6,960 broker warrants; PI Financial Corp. -- $4,017 cash and 30,900 broker warrants; Red Cloud Securities Inc. -- $1,443 cash and 11,100 broker warrants; and Haywood Securities Inc. -- $5,764.20 and 44,340 broker warrants. Broker warrants are exercisable at 25 cents for 24 months from the date of issue.

All securities issued pursuant to this offering are subject to a four-month-plus-one-day hold period from the date of issuance.

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

Stock options granted

Subject to regulatory approval and pursuant to the company's stock option plan, it has granted 1.03 million share purchase options in aggregate to officers/directors of the company. Each option is exercisable for the purchase of one common share of the company at a unit price of 16 cents for a five-year period.

About Juggernaut Exploration Ltd.

Juggernaut Exploration is a precious metals 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.