Juggernaut Closes Flow-Through Unit Financing

Vancouver, British Columbia – December 31, 2019 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) announces that it has submitted documents to the TSX Venture Exchange (the “Exchange”) seeking approval to close its $0.28 Flow-Through Unit (the “Units”) Private Placement Financing.

The Company has raised aggregate proceeds of $100,119.98 and on receipt of Exchange approval will issue 357,571 Units, each Unit consisting of 1 flow-through common share of the Company and 1 common share purchase warrant, each warrant being exercisable at $0.56 per common share for a period of 12 months, subject to the right of the Company to accelerate the exercise period if, after the 4 month hold period has expired, the closing price of the common shares is at or above $1.12 for a period of 10 consecutive trading days. Proceeds will be used for mineral exploration work.

Subject to Exchange approval the Company will pay finders’ fees in the aggregate of $6,007.19 and issue 21,454 broker warrants, such broker warrants being exercisable at $0.56 for 12 months.

All securities issued pursuant to this financing will be subject to a 4 month hold period.

For more information please contact:

Juggernaut Exploration Ltd.

Mr. Dan Stuart

President and Chief Executive Officer Tel: (604) 559-8028 [email protected] www.juggernautexploration.com @JuggernautExp

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.