Mr. Dan Stuart reports

JUGGERNAUT DRILLS 11.42 GPT AUEQ OVER 5.11 METERS IN SHEAR ZONE WITHIN A NEWLY DISCOVERED 550 METER BY 350 METER PRECIOUS METALS RICH MINERALIZED CORRIDOR THAT REMAINS OPEN IN THE GOLDEN TRIANGLE, B.C.

Juggernaut Exploration Ltd. has released results for its inaugural drill program from its 100-per-cent-controlled Bingo property, Golden Triangle, British Columbia. Multiple drill holes have intersected high-grade gold-silver-copper mineralization along a north-trending, west-dipping, shear-hosted vein with grades up to 11.42 grams per tonne (g/t) gold equivalent (AuEq) (7.57 g/t gold (Au), 20.23 g/t silver (Ag) and 2.72 per cent copper (Cu)) over 5.11 metres, including 19.69 g/t AuEq (13.05 g/t Au, 24.93 g/t Ag and 4.70 per cent Cu) over 2.90 metres. The shear-hosted vein at the Bingo Main zone is partially exposed at surfaces for 360 metres and only the main outcrop has been drill tested to date, leaving the system open in all directions. The mineralized vein is part of a 550 m by 350 m mineralized corridor where multiple additional gold-silver-copper-rich outcrops assayed up to 7.39 g/t Au and remain to be drill tested.

Two thousand twenty-three drilling highlights:

• High-grade gold-silver-copper mineralization has been intersected in multiple inaugural test drill holes collared from within the Bingo Main zone along a north-trending, west-dipping, shear-hosted vein within a 550 m by 350 m precious-metal-rich mineralized corridor that remains open.
• Drill hole BI-23-01 intersected 11.42 g/t AuEq (7.57 g/t Au, 20.23 g/t Ag and 2.72 per cent Cu) over 5.11 metres, including 19.69 g/t AuEq (13.05 g/t Au, 24.93 g/t Ag and 4.70 per cent Cu) over 2.90 metres.
• Drill hole BI-23-04 intersected 4.23 g/t AuEq (2.52 g/t Au, 11.05 g/t Ag and 1.16 per cent Cu) over 10.12 metres, including 6.74 g/t AuEq (4.01 g/t Au, 17.37 g/t Ag and 1.85 per cent Cu) over 5.89 metres.
• Drill hole BI-23-02 intersected 4.81 g/t AuEq (2.86 g/t Au, 8.72 g/t Ag and 1.39 per cent Cu) over 7.05 metres, including 9.49 g/t AuEq (5.69 g/t Au, 17.36 g/t Ag and 2.70 per cent Cu) over 5.89 metres and 12.35 g/t AuEq (7.31 g/t Au, 23.11 g/t Ag and 3.58 per cent Cu) over 2.45 metres.
• Drill hole BI-23-03 intersected 2.22 g/t AuEq (1.39 g/t Au, 4.06 g/t Ag and 0.58 per cent Cu) over 5.78 metres, including 2.56 g/t AuEq (1.66 g/t Au, 4.58 g/t Ag and 0.62 per cent Cu) over 4.73 metres and 10.67 g/t AuEq (6.77 g/t Au, 21.30 g/t Ag and 2.69 per cent Cu) over 0.92 metre.
• The broad sulphide-rich mineralized vein consists of semi-massive aggregates, and stockwork of chalcopyrite (up to 10 per cent) and pyrrhotite (up to 10 per cent), with minor pyrite and galena, part of a shear-hosted vein within a strongly altered diorite unit that remains open to the north, south and to depth.
• The maiden drill program on this discovery confirmed strong gold-silver-copper mineralization on the Bingo Main outcrop to a depth of 40 metres that remains open, leaving over 90 per cent of the known mineralized corridor untested.
• The inaugural drill program has helped to test and better understand the geometry of the mineralized vein, which is steeply dipping on surface and rotates to 45 degrees to the west at deeper levels. Future drill programs will use this data to define drilling and specifically target and intersect the projected extension of the mineralized shear-hosted vein at both depth and along strike.
• The mineralized shear-hosted vein is parallel to the axial plane of a fold identified in the magnetic signature of the Bingo Main zone. Recently, a new fold located one kilometre to the north of the Bingo Main zone, named the Double Down hinge zone, has been mapped and is being prepared for future drilling with excellent additional discovery potential.
• Bingo was discovered due to recent snowpack and glacial abatement in an area where the majority of outcrops contain high-grade gold-silver-copper mineralization at surface, and remain to be drill tested, within a 550 m by 350 m gold-rich mineralized corridor, indicating a large mineralizing system at work on the Bingo property, providing for excellent additional discovery potential both to depth and along trend for additional precious metals-rich veins and shear zones.

Highlights from the high-grade gold Bingo property:

• The Bingo Main zone is part of a 550 m by 350 m mineralized corridor that remains open, with high-grade gold drill samples (11.42 g/t AuEq over 5.11 metres) and surface samples (up to 13.4 g/t Au) located along the axial plane of a fold hinge.
• Bingo is located in the Eskay Rift in an evolving gold district in a world-class geologic setting within the Golden Triangle of British Columbia, host to several multimillion-ounce gold deposits, confirming the untapped discovery potential that remains while vast areas of newly exposed bedrock are exposed due to recent snowpack and glacial abatement.
• Bingo comprises the same world-class geological units as Goliath Resource's Surebet discovery located 15 km to the west, including Hazelton volcanics, and related sediments and intrusive rocks, as well as the same style of mineralization of pyrrhotite, chalcopyrite and galena, hosted in a similarly oriented west-dipping shear zone.
• Gold mineralization in drill samples (four out of seven holes intersected significant high-grade gold mineralization), surface outcrops (83 per cent of surface samples collected contained gold mineralization), stream sediment geochemistry, ground magnetic survey, soil sampling and other lines of evidence confirm strong gold-mineralization potential on the property.
• Mineralization is characterized by aggregates, and stockwork of chalcopyrite, pyrrhotite, galena and pyrite from a shear-hosted vein along which gold-silver-copper-rich fluids intruded and altered the host rock.
• Recently, a new fold located one kilometre to the north of the Bingo Main zone, named the Double Down hinge zone, has been mapped. This fold shows the same orientation and characteristics to the fold observed at the Bingo Main zone. A fault separates the two folds, potentially indicating that the two structures are in fact the same fold that has been displaced, in which case, gold-silver-copper mineralization is projected to be found in the Double Down hinge zone as well. Therefore, this area is also being prepared for drilling.
• A number of gold-silver-copper-rich angular float samples have been collected on the property, indicating widespread mineralization on Bingo. Of note is a float sample collected just west of the main outcrop assayed 13.4 g/t Au and consists of strongly altered and vuggy intrusive rock, with 15 per cent galena and 1 per cent chalcopyrite, and considerable amounts of jarosite.
• The Bingo property is located in a fertile area in the southern part of the Golden Triangle surrounded by a number of known deposits, including Anyox, Surebet, Dolly Varden, Porter Idaho, Premier and more.
• Infrastructure includes direct access to tidewater in close proximity to roads and high-tension power.

Four holes collared from pad 1, located in the northern part of the Bingo Main zone, intersected broad sulphide-rich mineralized horizon consisting of semi-massive aggregates and stockwork of chalcopyrite (up to 10 per cent) and pyrrhotite (up to 10 per cent), with minor pyrite and galena, that are part of a shear-hosted vein within a strongly altered diorite unit that remains open to the north, south and to depth. Drill hole BI-23-01 intersected 11.42 g/t AuEq (7.57 g/t Au, 20.23 g/t Ag and 2.72 per cent Cu) over 5.11 metres, including 19.69 g/t AuEq (13.05 g/t Au, 24.93 g/t Ag and 4.70 per cent Cu) over 2.90 metres. Drill hole BI-23-04 intersected 4.23 g/t AuEq (2.52 g/t Au, 11.05 g/t Ag and 1.16 per cent Cu) over 10.12 metres, including 6.74 g/t AuEq (4.01 g/t Au, 17.37 g/t Ag and 1.85 per cent Cu) over 5.89 metres. Drill hole BI-23-02 intersected 4.81 g/t AuEq (2.86 g/t Au, 8.72 g/t Ag and 1.39 per cent Cu) over 7.05 metres, including 9.49 g/t AuEq (5.69 g/t Au, 17.36 g/t Ag and 2.70 per cent Cu) over 5.89 metres and 12.35 g/t AuEq (7.31 g/t Au, 23.11 g/t Ag and 3.58 per cent Cu) over 2.45 metres. Drill hole BI-23-03 intersected 2.22 g/t AuEq (1.39 g/t Au, 4.06 g/t Ag and 0.58 per cent Cu) over 5.78 metres, including 2.56 g/t AuEq (1.66 g/t Au, 4.58 g/t Ag and 0.62 per cent Cu) over 4.73 metres and 10.67 g/t AuEq (6.77 g/t Au, 21.30 g/t Ag and 2.69 per cent Cu) over 0.92 metre.

Two thousand twenty-four drill plans

The mineralized shear-hosted vein was also intersected in a narrow copper-rich interval from a drill hole in the southern part of the Bingo Main zone 200 m south of pad 1, where it is thinner, and a surface grab sample assayed 9.79 g/t Au. Additional drilling in this area in 2024 is required to fully test the southern extent of the mineralized corridor. Mapping and drilling have shown that the mineralized vein pinches and swells, and is parallel to the axial plane of a moderate-size fold identified in the magnetic signature of the Bingo Main zone. The inaugural drill program has helped better understand the geometry of the mineralized vein, which is steeply dipping on surface and rotates to 45 degrees to the west at deeper levels. Future drill programs will take this information into consideration and drill holes will be designed to target and intersect the projected extension of the mineralized shear hosted vein at depth in the southern part of the Bingo Main zone. The 2024 drill program will be designed to expand on the depth and strike extent of the high-grade gold-silver-copper mineralization in the northern part of the Bingo Main zone, where a step-out pad will allow to test the vein at depth and extend its strike along the trend, where numerous surface samples assayed multigram gold. Additional drill locations on trend with the mineralized vein both to the north and to the south will help determine the extent of the mineralization along strike.

A secondary vein was discovered in outcrop 400 m to the northeast of pad 1, where two grab samples assayed 7.39 g/t Au and 5.93 g/t Au, respectively. The outcrop is partially covered by overburden, but structural measurements indicate a similar orientation to the main mineralized vein. Both samples collected from this outcrop consist of strongly altered, crackled intrusive with up to 5 per cent chalcopyrite and 10 per cent pyrite. This showing will be drill tested with multiple drill holes in 2024. A third vein is outcropping 250 m southeast of pad 1. A grab sample that assayed 1.11 g/t Au collected from this vein consists of a metamorphosed, strongly altered rock with 5 per cent pyrite and 1 per cent chalcopyrite. A number of drill holes will be designed to test this showing in 2024. Deeper drill holes designed to test the contact between a close-by intrusion and the surrounding rocks are also planned for the 2024 drill season.

Recently, a new fold located one kilometre to the north of the Bingo Main zone, named the Double Down hinge zone, has been mapped. This fold shows the same orientation and characteristics as the fold observed at the Bingo Main zone. A fault separates the two folds, potentially indicating that the two structures are in fact the same fold that has been displaced, in which case gold-silver-copper mineralization is projected to be found in the Double Down hinge zone as well. Therefore, this area is also being prepared for drilling in 2024.

A number of gold-silver-copper-rich angular float samples have been collected on the property indicating widespread mineralization on Bingo. Of note is a float sample collected just west of the main outcrop which assayed 13.4 g/t Au, and consists of strongly altered and vuggy intrusive rock with 15 per cent galena and 1 per cent chalcopyrite, and considerable amounts of jarosite.

The Bingo property has an area of 989 hectares and is located 45 km south-southwest of Stewart, B.C., and 28 km west of Kitsault, and only 12 km to tidewater landing and roads in the historic mining town of Anyox, providing for cost-effective exploration. The Bingo Main zone contains gold mineralized grab, chip and channel samples along the axial plane of a fold hinge over an area of 550 metres by 175 metres, in a region of recent glacial retreat and permanent snowpack abatement located within the Eskay Rift region of the Golden Triangle, British Columbia. High-grade gold from surface grab samples assayed up to 9.79 g/t Au. Channel samples assayed up to 1.77 g/t Au and 0.20 per cent Cu over 4.85 metres, and 1.48 g/t Au and 0.37 per cent Cu over 3.2 metres, respectively. The Bingo property has strong similarities to Goliath Resources' Surebet project located further to the east, including same mineralogy, textures and structures.

Dan Stuart, president and chief executive officer of Juggernaut Exploration, states: "The drill results far exceeded our expectations for this small exploratory maiden drill program, with four out of seven holes intersecting broad intervals of high-grade gold, silver and copper mineralization on the 100-per-cent-controlled Bingo property. We now know from surface sampling and mapping, and the maiden drilling, that the system is extensive and remains open to the north, south and now to depth, providing for excellent additional discovery potential. Bingo comprises the same world-class geological units as our sister company Goliath Resources' Surebet discovery next door. The team believes this could very quickly develop into a new world-class discovery in the prolific Golden Triangle of British Columbia. We look forward to defining the full extent of this new gold-silver-copper-rich discovery with additional drilling in 2024 and beyond. The company looks forward to releasing drill results from its 100-per-cent-controlled Midas and Empire properties in the near future."

Qualified person

Rein Turna, PGeo, is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Other

Oriented NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then reorientated, metreage blocks are checked, metre marks are labelled, recovery and RQD measurements taken, and primary bedding and secondary structural features, including veins, dikes, cleavage and shears, are noted and measured. The core is then described and transcribed in MX Deposit. Drill holes were planned using Leapfrog Geo and QGIS software, and data from the 2017 to 2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration, are sampled in lengths of 0.5 m to 1.5 m. Core samples are cut lengthwise in half; one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10 per cent.

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to Minfile locations, placer creek occurrences, regional soil anomalies and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 kilogram to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS (Global Positioning System) units (accuracy of three metres to 10 metres); and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip and grab) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. Quality assurance/quality control samples, including blanks, standards and duplicate samples, were inserted regularly into the sample sequence at a rate of 10 per cent.

All samples, including core, rock grabs, channels and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS lab facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS, samples were processed, dried, crushed and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were reanalyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21, a large volume of sample is needed (typically one kilogram to three kilograms). The sample is crushed and screened (usually to minus 106 microns) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analyzed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Some of the reported data are historical in nature and are a compilation of third party data from previous operators. The reader is cautioned that grab samples are spot samples, which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties.

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