Mr. Dan Stuart reports

JUGGERNAUT FILES TO CLOSE CRESCAT CAPITAL INCREASED TO 19.97 % OWNERSHIP

Further to its April 8, 2024, and April 9, 2024, news releases, Juggernaut Exploration Ltd. has filed documents with the TSX Venture Exchange for approval to close its oversubscribed non-brokered financing for 16,673,999 units, taking Crescat Capital LLC to 19.97-per-cent ownership. The financing was increased to $1,000,440 hard dollars due to strong support from long-term supporters and strategic investors alike. Crescat Capital agreed to increase its strategic investment to 19.97-per-cent ownership of the company postfinancing and Juggernaut welcomes this increased strategic investment from Crescat Capital and Dr. Quinton Hennigh, who has long provided technical support for the projects. The company looks forward to his continuing guidance. Juggernaut's high-grade copper and gold 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 world-class geologic terrane of northwestern British Columbia encompassing 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."

"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."

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 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 per cent Cu) over 5.11 metres, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt 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."

The financing consists of 16,673,999 units, priced at six cents each for gross proceeds of $1,000,440. Each unit consists of one common share plus one warrant to purchase one common share at 10 cents for a 36-month period.

The company is paying finder's fees of the gross proceeds from the financing in cash, broker warrants and broker units in accordance with TSX Venture Exchange policies.

The financing is subject to exchange approval. All shares issued pursuant to this financing and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the date of issuance.

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

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.

We seek Safe Harbor.