Juggernaut Exploration Ltd. — Capital/Financing Update 2024

Nov 20, 2024

Form 51-102F3 Material Change Report Under Subsection 7.1(1) of National Instrument 51-102

Item 1 Reporting Issuer

Juggernaut Exploration Ltd.

Item 2 Date of Material Change

November 19, 2024

Item 3 News Release

The news release issued with respect to the material change was disseminated through The Newswire November 19, 2024.

Item 4 Summary of Material Change

JUGGERNAUT ANNOUNCES OVERSUBSCRIBED FLOW-THROUGH FINANCING OF $1,374,500 WITH STRATEGIC INVESTORS.

Item 5 Full Description of Material Change

Vancouver, British Columbia – November 19, 2024 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) further to its November 12 and November 18, 2024 news releases, Juggernaut is pleased to report that it has filed with the TSX Venture Exchange (“Exchange”) for final approval of its oversubscribed non-brokered flow-through private placement financing (the “Financing”) for aggregate gross proceeds of $1,374,500 largely from strategic investors. The flow-through funds will be used towards follow-up drilling in 2025 on Juggernaut’s 100% controlled Midas and Bingo properties, targeting prolific high-grade Gold, Silver, Copper and Cobalt deposits.

On receipt of Exchange approval, the Company will issue 16,170,587 flow-through units (“FT Units”), priced at $0.085 each for gross proceeds of $1,374,500. Each FT Unit consists of one flowthrough common share plus one flow-through share purchase warrant, each flow-through warrant being exercisable for an additional flow-through common share at $0.12 for a twelve-month period from date of issuance.

In accordance with Exchange rules, the Company will pay cash finders’ fees totalling $45,693 and issue 537,564 non-transferable broker warrants each exercisable at $0.12 for twelve months.

All securities issued pursuant to this financing will be subject to a four-month plus one-day hold

Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

This report is not being filed on a confidential basis.

Item 7 Omitted Information

None

Item 8 Executive Officer

Daniel Stuart, CEO

Item 9 Date of report

November 19, 2024