Juggernaut Exploration Ltd. — Capital/Financing Update 2024

Nov 12, 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 12, 2024

Item 3 News Release

The news release issued with respect to the material change was disseminated through The Newswire November 12, 2024.

Item 4 Summary of Material Change

JUGGERNAUT ANNOUNCES $1,000,000 FLOW-THROUGH FINANCING WITH STRATEGIC INVESTORS.

Item 5 Full Description of Material Change

Juggernaut is pleased to report strategic investors participating in the Company’s non-brokered flow-through private placement financing (the “Financing”) for aggregate gross proceeds of $1,000,000. This financing 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.

The company will issue 11,764,706 flow-through units (“FT Units”), priced at $0.085 each for $1,000,000 gross proceeds. Each FT Unit consists of one flow-through common share plus one flowthrough share purchase warrant, each flow-through warrant being exercisable for an additional flow-through common share at $0.12 for twelve months. The anticipated closing date is November 22[nd,] 2024.

All securities issued pursuant to this financing are 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 12, 2024