Juggernaut Exploration Ltd. — Regulatory Filings 2021

Mar 1, 2021

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

March 1, 2021

Item 3 News Release

The news release issued with respect to the material change was disseminated through GlobeNewswire on March 1, 2021 .

Item 4 Summary of Material Change

JUGGERNAUT INCREASES FINANCING FROM $2,800,000 TO $5,300,000 DUE TO STRONG DEMAND FROM INSTITUTIONS, STRATEGIC INVESTORS AND INSIDERS.

Item 5 Full Description of Material Change

Vancouver, British Columbia – March 1[th] 2021 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report that it has received Conditional Approval from the TSX Venture Exchange (the “Exchange”) for its previously announced (see news releases dated February 8, 2021 and February 22, 2021) private placement financing (the “Financing”). The company will have in excess of $6,000,000 in cash no debt and less than 39MM share issued and outstanding post financing. The significant investment of $5,300,000 by Institutions, Strategic investors, insiders coupled with interest from senior miners is a strong testament to Juggernauts properties and planned 2021 exploration programs. Juggernauts 4 properties are 100% controlled containing original discoveries with exposure to gold, silver and base metals located in world class geologic terrain of North Western British Columbia Canada.

Juggernaut’s previously announced a expanded non-brokered flow through financing consisting of units priced at $0.355 with a two year warrant priced at $0.375 of up to $2,800,000 on February 22nd. The company has now received $2,500,000 in a fully subscribed hard dollar financing consisting of units priced at $0.25 with a two year warrant priced at $0.375. Crescat Capital LLC (“Crescat”) has agreed to make a strategic investment representing a 9.90% ownership of the Company post funding. As part of the terms, they will also have an option to participate in future financings to maintain their 9.90% interest for a three-year period from the date of closing scheduled for March 5 2021.

On receipt of final approval from the Exchange, the Company will issue up to 7,888,324 FlowThrough Units (“FT Units”), each FT Unit consisting of 1 flow-through common share of the Company at $0.355, and 1 common share purchase warrant exercisable for an additional common share at $0.375 for 2 years. Also 10,000,000 $0.25 Non-Flow-Through Units (“NFT Units”), each NFT Unit consisting of 1 common share of the Company and 1 common share purchase warrant exercisable for an additional common share at $0.375 for 2 years.

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

March 1, 2021