(TheNewswire)
PLANS FOLLOW UP DRILLING ON EXTENSIVEHIGH-GRADE COPPER-GOLD TARGETS
Vancouver, British Columbia – TheNewswire - May 13 th 2024 – Juggernaut Exploration Ltd.(TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or“Juggernaut”) further to its April30 th , 2024 news release, Juggernaut is pleased to report that it has received TSX Venture Exchange approval toclose its non-brokered private placement financing (the“Financing”) for aggregate gross proceeds of $1,000,440. The useof funds from this financing will be for general working capital andpreparation to drill ~5000 meters on Juggernaut’s 100% controlledBingo and Midas properties, targeting prolific high-grade Copper andGold at the surface.
Dr. Hennighstated , "Verypromising results from 2023’s maiden drill program confirmed strongpotential for “Surebet” style intrusive-related gold-base metallodes at Bingo. In addition, follow up drilling at Midas continues todemonstrate the presence of a large volcanogenic massive sulfidesystem in need of further work. With interest in the miningexploration space quickly heating up, it is critical that companieslike Juggernaut get back to the job of making discovery. I lookforward to working with the Company’s team as plans are made forthis year’s drill campaign at both of these exciting projects."
This investment and strategic partnership, coupled withthe ongoing support and interest from other globally recognizedInstitutions and senior miners, is a strong endorsement that clearlydemonstrates the significant near-term expansion discovery potentialof our 100% controlled properties—highlighting just one recentdiscovery on Bingo where multiple drill holesintersected high-grade gold-silver-copper mineralization along anextensive north-trending, west-dipping, shear-hosted vein with gradesup to 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and4.70 % Cu) over 2.90 meters. The shear-hosted vein at the Bingo MainZone is partially exposed at surfaces for over 600 meters, and onlythe main outcrop has been drill-tested to date, leaving the systemopen in all directions.
The Financing consists of 16,673,999 units (“Units”), priced at $0.06 each for gross proceeds of$1,000,440. Each Unit consists of one common share plus one warrant topurchase one common share at $0.10 for a thirty-six-month period.
The Company has also paid cash finder’s fees totaling$5,221.20, issued 390,000 Broker Units,
each Broker Unit consisting of 1 common share of theCompany and 1 common share purchase warrant exercisable at $0.10 for 3years, and 477,020 Broker Warrants exercisable at$0.10 for 3years.
All securities issued pursuant to this financing willbe subject to a four-month plus one-day hold.
About Juggernaut ExplorationLtd.
Juggernaut Exploration Ltd. is a precious and basemetals project generator in the geopolitically stable jurisdiction ofCanada, focused on the prolific geologic setting of northwesternBritish Columbia encompassing the Golden Triangle.
Qualified Person Rein Turna P.Geo is the qualified person as defined byNational Instrument 43-101 for Juggernaut Exploration’s projects. Hesupervised the preparation of and has reviewed and approved thetechnical information in this release.
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For more information, pleasecontact
Juggernaut Exploration Ltd.
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
NEITHER THE TSX VENTURE EXCHANGE NORITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THEPOLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THEADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constituteforward-looking statements that are subject to numerous risks anduncertainties relating to Juggernaut’s operations that may causefuture results to differ materially from those expressed or implied bythose forward-looking statements, including its ability to completethe contemplated private placement. Readers are cautioned not to placeundue reliance on these statements. NOT FOR DISSEMINATION IN THEUNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRESERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL ORAN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
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