Juggernaut Exploration Ltd. — Capital/Financing Update 2025

Jun 16, 2025

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
June 16, 2025

Item 3 News Release
The news release issued with respect to the material change was disseminated through The Newswire on June 16, 2025.

Item 4 Summary of Material Change
JUGGERNAUT FILES FOR FINAL APPROVAL OF $1,100,000 FROM INSTITUTIONS AND ACCREDITED INVESTORS.

Item 5 Full Description of Material Change
Vancouver, British Columbia – June 16, 2025 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”), further to its June 4 and June 12, 2025, news releases, the Company is pleased to announce that it has filed documents with the TSX Venture Exchange (the “Exchange”) seeking final approval to close its private placement financing (the “Financing”) for aggregate gross proceeds of $1,100,000.

On receipt of final approval form the Exchange, the Company will issue 1,718,731 $0.64 units (“Units”), with each Unit consisting of one (1) common share of the Company and one (1) common share purchase warrant, each warrant being exercisable at $0.84 for 5 years, subject to the right of the Company to accelerate the exercise period to 30 days if, after the 4-month hold has expired, shares of the Company close at or above $1.84 for 10 consecutive trading days.

The proceeds will be used to explore Juggernaut's properties located in Northwestern B.C. and for general working capital.

Further, and on receipt of Exchange approval, cash finders’ fees of $65,999 will be paid and 103,124 non-transferable broker warrants will be issued in accordance with TSXV Polices.

All securities issued pursuant to this Financing are subject to a 4-month-plus-one-day hold from date of issuance.

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Stock Options Granted

Pursuant to its stock option plan, the Company has granted 1,400,000 stock options to officers and consultants of the Company. Each option is exercisable for the purchase of one (1) common share of the Company at an exercise price of $0.78 for a ten-year period. One consultant’s options vest 25% after 12 months of the grant date and 25% each 12 months thereafter until fully vested. All other options are fully vested and exercisable on the date of grant.

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

June 16, 2025