Juggernaut Drills New Zone Averaging 10 m Thick Of Strong Eskay-Style Mineralization Over 700 m That Remains Open On 100% Controlled Midas Property

05.09.2024  |  The Newswire

Juggernaut Exploration Ltd. (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut") is pleased to report the discovery of a new mineralized trend at depth consisting of significant sulphide mineralization averaging 10 meters in thickness that extends for 450 meters from the Kokomo showing (9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn) towards the south and remains open on its 100 % controlled Midas property. A second trend splitting off the main trend extends for 200 m to the southeast. The 2024 drill program has defined the most extensive mineralization observed on the Midas property to date. Strong sulphide mineralization consistent with mineralization typically observed in proximity of an Eskay-style Voclanogenic Hosted Massive Sulphide (VHMS) system in the form of moderate, semi-massive and/or massive chalcopyrite, sphalerite and pyrite hosted in a quartz-sericite-chlorite schist has been intersected in drill holes from all pad locations, strongly indicating the potential for a VHMS deposit at depth. The 2024 drill program has been completed and all assays are currently pending.

Dan Stuart, President and CEO of Juggernaut Exploration states "The scale and geometry of this newly discovered high-grade mineralized trend has exceeded the team's expectations, and we are looking forward to expanding this trend with additional drilling and geophysics in 2025. With much anticipation we look forward to announcing assay results in the near future, once everything has been received, compiled and interpreted."

Midas 2024 Drilling Highlights

• Multiple drill holes from 6 drill pads collectively spread over 700 m of strike have intersected significant moderate, semi-massive and/or massive sulphide mineralization that define two new Eskay-style VHMS mineralized trends at depth that remain open. Midas Property 2024 Drilling Map

• Strong sulphide mineralization has been intersected from 100 % of all six widely spaced drill pads over a collective strike of 700 m that remains open.

• One newly discovered mineralized trend has an average width in drill core of 10 m and extends along strike for 450 m from the Kokomo showing towards the south and remains open. A second trend splits off from the main trend, has an average width of 10 m in drill core and extends for 200 m to the southeast and remains open.

  • Kokomo Pad - MD-24-47 intersected 11.65 m of moderate, semi-massive and massive sulphide mineralization from 148.25 m to 159.90 m, within an envelope of 30.75 m of disseminated sulphides from 148.25 to 179.00 m Comparison MD-24-47 Kokomo

  • Midas 2 Pad - MD-24-49 intersected 13.55 m of moderate, semi-massive and massive sulphide mineralization from 7.75 m to 21.30 m, within an envelope of 34.75 m of disseminated sulphides from 1.25 to 36.00 m Comparison MD-24-49 Kokomo

  • Midas 3 Pad - MD-24-55 intersected 11.24 m of moderate, semi-massive and massive sulphide mineralization from 143.71 m to 154.95 m, within an envelope of 42.55 m of disseminated sulphides from 143.71 to 186.26 m Comparison MD-24-55 Kokomo

  • Midas 4 Pad - MD-24-56 intersected 7.83 m of moderate, semi-massive and massive sulphide mineralization from 145.06 m to 152.89 m, within an envelope of 47.65 m of disseminated sulphides from 113.96 m to 161.61 m Comparison MD-24-56 Kokomo

  • Midas 5 Pad - MD-24-57 intersected 5.00 m of moderate, semi-massive and massive sulphide mineralization from 16.76 m to 21.76 m, within an envelope of 33.30 m of disseminated sulphides from 16.76 to 50.06 m Comparison MD-24-57 Kokomo

  • Midas 6 Pad - MD-24-59 intersected 10.72 m of moderate, semi-massive and massive sulphide mineralization from 51.65 m to 62.37 m, within an envelope of 57.63 m of disseminated sulphides from 4.67 to 62.37 m Comparison MD-24-59 Kokomo

• Mineralization consists of moderate (3-6 %), semi-massive (6-10 %) and/or massive ( 10 %) chalcopyrite, sphalerite and pyrite hosted in a quartz-sericite-chlorite schist. Sulphides generally occur as semi-massive to massive aggregates and stringers.

• The strong mineralization is enveloped by a zone of quartz-sericite-chlorite schist characterized by disseminated sulphide, including pyrite and minor chalcopyrite and sphalerite with an average interval thickness in drill core of 41.11 m and remains open, indicating the presence of a large gold system on Midas.

• The strong sulphide mineralization ( 3 % to over 10 %) observed in extended intervals up to 13.55 m wide (and averaging 10 m wide) from drill holes completed during the 2024 program is strongly reminiscent of the surface samples collected at Kokomo which assayed up to 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn.

• The successful 2024 drill program has been completed with 2738 m drilled in 13 holes from 6 drill pads. This drill program was testing several lines of evidence that pointed to an area that had never been drill tested prior to 2024. The system remains open along, strike and depth, providing excellent additional opportunity for discovery. All assays are currently pending.

• Pending assay results, the Company is planning a geophysical survey to determine the extent and geometry of the newly discovered Eskay-style VHMS mineralized zone as well as additional targets that remain blind for 2025.

• The 2024 drill program has defined the most extensive mineralization observed on the Midas property to date, with 450 m of strike on the main mineralized trend and 200 m of strike on the splay.

Multiple drill holes spread over 450 m of strike have intersected significant moderate, semi-massive and/or massive sulphide mineralization that define two new Eskay-style VHMS mineralized trends at depth that remain open. One newly discovered mineralized trend has an average width in drill core of 10 m and extends along strike for 450 m from the Kokomo showing towards the south and remains open. A second trend splits off from the main trend and extends for 200 m to the southeast and remains open. Mineralization consists of moderate (3-6 %), semi-massive (6-10 %) and/or massive (> 10 %) chalcopyrite, sphalerite and pyrite hosted in a quartz-sericite-chlorite schist. Sulphides generally occur as semi-massive to massive aggregates and stringers. This strong mineralization is enveloped by a zone of quartz-sericite-chlorite schist characterized by disseminated sulphide, including pyrite and minor chalcopyrite and sphalerite with an average interval thickness in drill core of 41.11 m and remains open. The strong sulphide mineralization (> 3 % to over 10 %) observed in extended intervals up to 13.55 m wide (and averaging 10 m wide) from drill holes completed during the 2024 program is strongly reminiscent of the surface samples collected at Kokomo which assayed up to 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn.

Table 1: Drill hole highlights from the 2024 Midas drill program

The 2024 drill program has been completed with 2738 m drilled in 13 holes from 6 drill pads. All assays are currently pending. The Company is planning a geophysical survey to determine the extent and geometry of the newly discovered Eskay-style VHMS mineralized zone as well as additional targets that remain blind for 2025.

Highlights from the Midas Eskay-Style Kokomo VHMS target

• Highlights of the Midas property includes the discovery of the gold-silver-copper-zinc rich Kokomo showing (9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn), drill hole MD-19-18 (6.22 m of 0.31 gpt Au, 0.95 m of 1.50 gpt Au with 1.94 % Cu and 3.22 m of 0.36 gpt Au) and the VG Zone (2.24 gpt Au, 6.83 gpt Ag, 0.18 % Cu and 1.04 % Zn over 4.80 meters).

• Extensive broad copper-zinc-gold rich intervals consisting of considerable chalcopyrite, sphalerite and pyrite in aggregates, stringers and veinlets have been intersected in multiple drill holes from 2023 collared from an area encompassing the VG Zone and Kokomo showing consistent with an Eskay-style VHMS system.

• Results from the 2023 drill campaign intersected weak to moderate sulphide mineralization that assayed up to 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu and 0.67 % Zn) over 5.00 meters, far less compelling than what has been observed in 2024.

• The drill results in combination with results from previous years indicate an extensive north-south gold-copper-zinc rich mineralized trend that remains open extending for 550 m on strike with a large relatively shallow Induced Polarization (IP) chargeability and resistivity anomaly. The gold and base metals component clearly increases towards the Kokomo showing, strongly indicating proximity to the heart of a VHMS deposit.

• Kokomo is an Eskay-style VHMS showing with a 1 m chip sample assaying 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn. The outcrop remains open in all directions where outcrops of the same or similar lithology extend over several hundred meters.

• The host rock to the Kokomo showing has been mapped by Juggernaut former senior geologist S. Roach as well as the British Columbia Geological Survey (BCGS; M. McKeown, J. Nelson and R. Friedman, 2007)as a rhyolitic tuff with strong phyllic alteration (quartz-sericite-pyrite) from the Mt Attree volcanics, a unit highly prospective for VHMS deposits

• The geology, geochemistry, alteration, and extensive underlying geophysical anomaly coupled with the high-grade polymetallic Au, Ag, Cu and Zn mineralization in semi-massive to massive sulphides seen in drill core and outcrop strongly indicates the potential of a new Eskay-style VHMS discovery.

The Midas property is 100% controlled and covers 20,803 hectares and is located 24 km southeast of Terrace, British Columbia in close proximity to logging access roads, power, railway and major infrastructure. The property is located in an area of recent glacial abatement and permanent snowpack recession at the southern end of the Golden Triangle, British Columbia. Multiple high-grade gold grab, chips and channel samples were collected from the Kokomo VHMS target where a 1.00 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn and is drill ready. Relatively shallow Induced Polarization (IP) chargeability and resistivity anomalies extend under the Kokomo showing on trend to the south for at least 550 m, conducive for a buried VHMS containing semi-massive to massive sulphides at depth. Channel samples highlights from the VG Zone include 10.28 gpt Au over 4.34 meters; 15.37 gpt Au over 2 meters; and 5.43 gpt Au over 3.11 meters. Historic drill results from the Midas property include hole MD-18-16 which intersected the peripheral zone of the IP anomaly core and returned 0.56 g/t AuEq over 35.35 meters; hole MD-18-08, which assayed 6.85 gpt Au over 9 meters and narrowly missed a strong IP chargeability anomaly; and hole MD-18-01 which intersected 3.27 gpt AuEq over 4.80 meters and ended before it reached the core of a strong IP chargeability anomaly.

About Juggernaut Exploration Ltd.

Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.

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

Oriented NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit. Drill holes were planned using Leapfrog Geo and QGIS software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%

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 core, 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 and Chief Executive Officer

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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