Subject: Crescat Capital Increases Ownership in Juggernaut to 19.70% *High-Grade Gold - Copper Discovery* Golden Triangle B.C. Canada
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File: '\\swfile\EmailIn\20240408 053906 Attachment JUGRCRESCATFINALApril8th2024 - press release quote QH and KS.docx'
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JUGGERNAUT ANNOUNCES INCREASED STRATEGIC INVESTMENT BY
CRESCAT CAPITAL FOR 19.70% OWNERSHIP
Vancouver, British Columbia - April 8th, 2024 - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut") is pleased to announce a non-brokered financing of up to $510,000 dollars. Crescat Capital LLC ("Crescat") has agreed to make a strategic investment representing a 19.70% ownership of the Company post-funding 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% 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. Quinton 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 sulfide 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. "
View Juggernaut videos by Clicking Here.
The funding will consist of up to 8,500,000 units ("Units"), priced at $0.06 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 $0.10 for a thirty-six-month period with no forced conversion. Upon completion of the offering projected to close on or before April 30th, Crescat has agreed to acquire a majority of these units representing a 19.70 % ownership in the Company post financing.
"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 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor 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% 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 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70 % Cu) over 2.90 meters. The shear-hosted vein at the Bingo Main Zone is partially exposed at surfaces for over 600 meters, 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."
Link To Bingo High-Grade Gold Copper Discovery.
Post financing, Juggernaut will have a tight capital structure, no debt, and a strong cash position. As such, we are well-positioned to move forward with our 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, Colorado. 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. Quinton 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 Ltd. 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 P. Geo 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.
For more information, please contact
Juggernaut Exploration Ltd.
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
www.juggernautexploration.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.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
PDF Document
File: Attachment JUGRCRESCATFINALApril8th2024 - press release quote QH and KS.pdf
JUGGERNAUT ANNOUNCES INCREASED STRATEGIC INVESTMENT BY
CRESCAT CAPITAL FOR 19.70% OWNERSHIP
Vancouver, British Columbia April 8th, 2024 Juggernaut Exploration Ltd. (TSX-V: JUGR)
(OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut") is pleased to announce a non-
brokered financing of up to $510,000 dollars. Crescat Capital LLC ("Crescat") has agreed to make
a strategic investment representing a 19.70% ownership of the Company post-funding 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% 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. Quinton 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
sulfide 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. "
View Juggernaut videos by Clicking Here.
The funding will consist of up to 8,500,000 units ("Units"), priced at $0.06 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 $0.10 for a thirty-six-month period with no forced conversion.
Upon completion of the offering projected to close on or before April 30th, Crescat has agreed
to acquire a majority of these units representing a 19.70 % ownership in the Company post
financing.
"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 ("MI 61-101"). Such participation is expected to be exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship with Crescat Capital as a strategic investor and
Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our part-
ners, 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%
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 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag
and 2.72 % Cu) over 5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70
% Cu) over 2.90 meters. The shear-hosted vein at the Bingo Main Zone is partially exposed at
surfaces for over 600 meters, 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."
Link To Bingo High-Grade Gold Copper Discovery.
Post financing, Juggernaut will have a tight capital structure, no debt, and a strong cash posi-
tion. As such, we are well-positioned to move forward with our 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
2
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, Colorado. 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. Quinton 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 Ltd. 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 P. Geo 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.
For more information, please contact
Juggernaut Exploration Ltd.
Dan Stuart
3
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
www.juggernautexploration.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.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to
numerous risks and uncertainties relating to Juggernaut's operations that may cause future
results to differ materially from those expressed or implied by those forward-looking
statements, including its ability to complete the contemplated private placement. Readers are
cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE
UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS
PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE
ANY SECURITIES DESCRIBED IN IT.
4
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