Mr. Dan Stuart reports

JUGGERNAUT ANNOUNCES INCREASED STRATEGIC INVESTMENT BY CRESCAT CAPITAL FOR 19.70% OWNERSHIP

Juggernaut Exploration Ltd. has arranged a non-brokered financing of up to $510,000. Crescat Capital LLC has agreed to make a strategic investment representing a 19.7-per-cent ownership of the company postfinancing, on a partially diluted basis. Juggernaut welcomes this strategic investment from Crescat Capital and technical support from Dr. Quinton Hennigh. Juggernaut's high-grade gold and copper projects continue to garner strong interest and support from leading institutions and miners alike, confirming the quality of its three fully permitted, 100-per-cent-controlled, drill-ready projects located in the geopolitically stable, world-class geologic terrane of northwestern British Columbia and the Golden Triangle.

Through his role as technical and geologic director of Crescat Capital, Dr. Hennigh continues to provide technical advice to the company. 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: "Very promising results from 2023's maiden drill program confirmed strong potential for Surebet-style intrusive-related gold-base metal lodes at Bingo. In addition, follow-up drilling at Midas continues to demonstrate the presence of a large volcanogenic massive sulphide system in need of further work. With interest in the mining exploration space quickly heating up, it is critical that companies like Juggernaut get back to the job of making discovery. I look forward to working with the company's team as plans are made for this year's drill campaign at both of these exciting projects."

The financing will consist of up to 8.5 million units, priced at six cents each for gross proceeds of up to $510,000. Each unit will consist of one common share plus one warrant to purchase one common share at 10 cents for a 36-month period with no forced conversion. Upon completion of the offering, projected to close on or before April 30, Crescat has agreed to acquire a majority of these units, representing a 19.7-per-cent ownership in the company postfinancing.

"We look forward to helping Juggernaut continue their work at Bingo and Midas in the coming drill season, given the potential for a significant discovery," remarked Kevin Smith, Crescat's founder and chief investment officer. "This is the same exploration team that delivered a major gold and silver discovery for us at Goliath Resources' Surebet. They are highly capable of doing the same at one or both of these targets."

Directors and officers of the company may acquire securities under the placement, which participation would be considered to be a related-party transaction as defined under Multilateral Instrument 61-101. Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

Dan Stuart, director, president and chief executive officer of Juggernaut, states: "We are pleased to strengthen our relationship with Crescat Capital as a strategic investor, and Dr. Hennigh as a special technical adviser and investor. I look forward to working 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 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 expansion discovery potential of our 100-per-cent-controlled properties -- highlighting just one recent discovery on Bingo where multiple drill holes intersected high-grade gold-silver-copper mineralization along an extensive north-trending, west-dipping, shear-hosted vein with grades up to 11.42 g/t [grams per tonne] AuEq [gold equivalent] (7.57 g/t Au [gold], 20.23 g/t Ag [silver] and 2.72 per cent Cu [copper]) 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 over 600 metres, and only the main outcrop has been drill tested to date, leaving the system open in all directions. With much anticipation, we look forward to expanding our high-grade gold and copper discoveries through the drill bit on both Bingo and Midas in the rapidly approaching summer of 2024."

Postfinancing, Juggernaut will have a tight capital structure, no debt and a strong cash position. As such, the company is well positioned to move forward with its plans.

The company may pay finder's 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 macro asset management firm headquartered in Denver, Colo. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary, value-driven equity and macro models. 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 cap and precious metals 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.

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.

Qualified person

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

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