Juggernaut Exploration Ltd. — Capital/Financing Update 2020

Mar 20, 2020

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JUGGERNAUT CLOSES NON-BROKERED FINANCING

Vancouver, British Columbia – March 20, 2020 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) reports that further to its March 5, 2020 news release, the Company has filed for final approval of its previously announced financing (the “Financing”) from the TSX Venture Exchange (the “Exchange”).

The Company has issued 120,000 $0.28 flow-through units (“FT Units”), each FT Unit being comprised of 1 flow-through common share of the Company and 1 common share purchase warrant, each warrant being exercisable for an additional common share of the Company at $0.56 for 12 months, subject to the right of the Company to accelerate the exercise period to 30 days should the closing price of common shares of the Company be at or above $1.12 for 10 consecutive trading days.

The Company has also issued 957,000 hard-dollar units (“Units”), each Unit being comprised of 1 common share of the Company and 1 common share purchase warrant, each warrant being exercisable for an additional common share of the Company at $0.40 for 24 months, subject to the right of the Company to accelerate the exercise period to 30 days should the closing price of common shares of the Company be at or above $0.80 for 10 consecutive trading days.

5 Investors subscribing for a total of 160,000 Units for gross proceeds of $32,000 relied on the MI 45-321 Suitability of Advice Exemption.

In accordance with Exchange policies, finders’ fees cash commission of $7,740 have been paid and 1,200 flow-through unit broker-warrants and 37,020 hard-dollar unit broker-warrants have been issued.

Proceeds from the Financing will be used for mineral exploration projects and general working capital purposes.

All securities issued pursuant to the offering (including warrants issued to finders), as well as any shares issued pursuant to the exercise of warrants, will be subject to a four-month hold period from the closing date.

For more information please contact:

Juggernaut Exploration Ltd.

Mr. Dan Stuart

President and Chief Executive Officer Tel: (604) 559-8028 dan@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.