Vancouver, British Columbia – TheNewswire - Aug 1st, 2023 – Juggernaut Exploration Ltd (TSXV:JUGR.V) (OTC:JUGRF) (FSE:4JE) (the “Company” or “Juggernaut”) is pleased to report early commencement of drilling on the high-grade Metallica zone on the Empire property in a region of recent glacial retreat exposing extensive mineralized outcrops that have never been detected before located at the southern end of the Golden Triangle, British Columbia.

Prospecting identified surface mineralization over an area measuring approximately 250 by 225 meters that remains open. Grab samples from an outcropping massive sulphide vein up to 30 cm wide assayed up to 36,875 gpt Ag (1180 ounces per ton silver), 4.68 gpt Au, 27.6% Cu and 3.27% Zn (This is one of the highest silver samples collected from outcrop in Canadian history). Channel samples from the massive sulphide vein assayed 22,694 gpt Ag (729.6 oz per ton), 26.4 % Cu, 2.8 % Zn. The vein extends for 40 meters in an east-west direction indicating a large porphyry feeder system at depth that remains open and is drill ready. Five separate gently dipping veins assayed between 1.00 and 16.4 gpt Au, and up to 2470 gpt Ag, 15.45% Cu and 1.58% Zn. These veins are up to 30 cm wide, contain quartz + Fe-carbonate ± covellite ± sphalerite and are arranged in a traceable set for over 50 meters across strike. In close proximity potassic alteration and porphyry textures seen on surface are believed to be related to a subtle magnetic high, indicating a porphyry core feeder at depth.

The 2023 drill program will test these veins including the massive sulphide veins and the potentially underlying porphyry feeder system with ~1500 m of drilling from 2 drill pads.

Empire Property Metallica Drill Holes Targeting (1180 ounces per ton silver), 4.68 gpt Au, 27.6% Cu and 3.27% Zn (This is one of the highest silver samples collected from outcrop in Canadian history)

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Highlights from the high-grade Metallica Zone porphyry target on the Empire property:

• Grab samples from a massive sulphide vein up to 30 cm wide assayed up to 36,875 gpt Ag (1180 ounces per ton), 4.68 gpt Au, 27.6% Cu and 3.27% Zn. Channel samples from the massive sulphide vein assayed 22,694 gpt Ag (729.6 oz per ton), 26.4 % Cu, 2.8 % Zn. The vein extends for 40 meters in an east-west direction and remains open. 

• Five separate gently dipping veins assayed between 1 and 16.4 gpt Au, and up to 2470 gpt Ag, 15.45% Cu and 1.58% Zn. These veins are up to 30 cm wide, contain quartz + Fe-carbonate ± covellite ± sphalerite and are arranged in a traceable set for over 50 meters across strike and remains open. 

• Mineralization is hosted within a propylitically altered feldspar porphyry unit. 

• The Metallica zone is part of the Inca Trend, a high-grade polymetallic mineralized trend that extends for 1.6 by 1.2 kilometer in an area where recent glacial abatement has exposed several extensive new zones of mineralized outcrop which were previously unknown. 

• Excellent proximity to infrastructure, including highway, railway, high-tension power and the town of Terrace, BC. 

The 100% controlled Empire Property covers 12,480 hectares approximately 70 kilometers northeast of Terrace, BC. It is road-accessible and approximately 15 kilometers from the nearest highway and power line.

Dan Stuart, President and CEO of Juggernaut Exploration states “We are excited to begin early the maiden drilling on the high-grade Metallica zone on Empire. We also look forward to announcing in short order the commencement of the highly anticipated maiden drill program on Bingo located next door to Goliath Resources Sure Bet discovery.  With much anticipation, we look forward to executing these inaugural drill and exploration programs and reporting results.”

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Other

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.

All samples, including rock grabs, channels, and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.

Some of the reported data is historical in nature and is a compilation of third-party data from previous operators. The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties.

For more information, please contact:

Juggernaut Exploration Ltd.

Dan Stuart

President, Chief Executive Officer and Director

Tel: (604)-559-8028

www.juggernautexploration.com

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FORWARD LOOKING STATEMENT

Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.

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