Juggernaut Exploration Ltd. — Capital/Financing Update 2020

Feb 28, 2020

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JUGGERNAUT CLOSES FIRST TRANCHE OF NON-BROKERED UNIT FINANCING

Vancouver, British Columbia – February 28, 2020 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce that it has filed documents with the TSX Venture Exchange (the “Exchange”) seeking conditional approval for its flow-through and hard dollar unit financing.

Subject to Exchange approval, the Company will issue up to 1,428,571 $0.28 Flow-Through Units (the “FT Units”) for gross proceeds of up to $400,000, each FT Unit being comprised of 1 flow-through common share and 1 common share purchase warrant, each warrant entitling the holder to purchase an additional common share of the Company for $0.56 for a period of 12 months, subject to the right of the Company to accelerate the exercise period to 30 days should shares of the Company have a closing price equal to or higher than $1.12 for 10 consecutive trading days, and up to 7,500,000 $0.20 Hard Dollar Units (the “HD Units”) for gross proceeds of up to $1,500,000, each HD Unit being comprised of 1 common share and 1 common share purchase warrant, each warrant entitling the holder to purchase an additional common share of the Company for $0.40 for 24 months, subject to the right of the Company to accelerate the exercise period to 30 days should shares of the Company have a closing price equal to or higher than $0.80 for 10 consecutive trading days.

Finders Fees in accordance with TSX Venture Exchange policies may be payable on the financing.

Funds from the financing will be used for mineral project exploration 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.