Juggernaut Exploration Ltd. (JUGR.V) (the “Company” or “Juggernaut”) is pleased to report channel sample results from the Goldilocks Zone containing assays of 7.86g/t AuEq over 3.75m true width. This channel was taken over a 3.75m wide section to partially test a 10.5m wide outcrop containing extensive veining and alteration, the channel started in 9.01 g/t AuEq and ended in 10.79 g/t AuEq and remains open. The Goldilocks Zone discovered in 2018 is 190m long by 20 meters wide and extends for 160 m vertical relief. It is located 500 m north of the Yellow Brick Road Gold Zone, and remains open. The Yellow Brick Road Zone was discovered in 2017, mapped for 170 meters and remains open. Channel samples assayed up to 24.55 grams per tonne gold equivalent over 0.3 meters (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb DSM Oct 30th 2018). These two high grade gold zones are in an under-explored region of extensive glacial and snow pack recession providing vast areas of newly exposed bedrock with excellent potential for additional gold discoveries. (Property Map with highlights)

Property Highlights Include:

  • Goldilocks Zone Drill Ready 
    • Goldilocks Zone is demarked by multiple outcrops that daylight in glacial talus containing high-grade gold and polymetallic mineralization with grab samples assaying up to 40 g/t AuEq. The zone is defined by veining and altered host rock over an area of 190m by 20m and 160m vertical relief that remains open. To date 84% of samples taken assayed greater than 1.0 g/t gold confirming the continuity of the widespread gold mineralization. (Link to image)
    • 2019 Channel Cut within the Goldilocks zone consisted of a 3.75m cut to partially test a 10.5m wide section of exposed outcrop. Assays returned 7.86 g/t AuEq over 3.75m true width. This channel started in 9.01 g/t AuEq and ended in 10.79 g/t AuEq leaving the zone open. This zone also contains gold mineralization confirmed in the host rock (pyritic chlorite schist) that assayed 1.13 g/t AuEq over a 1-meter interval within the 3.75-meter channel (Link to new 2019 Video) 
  • Yellow Brick Road Zone Drill Ready
    • Located 500 meters south of Goldilocks, the Yellow Brick Road Zone has been traced for 170 meters, and remains open (link to 2018 video)
    • Channel samples over 0.3 metre assay up to 28.7 g/t Au, 410 g/t Ag, 1.4 % Cu, and 6 % Pb (link to image)
    • The Yellow Brick Road Zone contains pyrite-chalcopyrite-galena bearing, vuggy quartz veins that are up to 1 meter wide with chip samples up to 24.55 AuEq over 1 meter (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb) and with grab samples assaying up to 55.80 g/t Au and 2340 g/t Ag. The veins are encompassed by a pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide.

The high-grade gold and silver mineralization confirmed on surface at these two discovery zones located 500 meters apart coupled with multiple other newly discovered gold mineralized outcrops in the surrounding area provides strong drill targets to test for a large common gold mineralizing system at depth. Drilling is recommended to outline the full extent of the surface gold mineralization both along strike and to depth. (link to map)

Host rock is variably altered with zones of pervasive chloritization, oxidized pyritization, and local clay alteration that contain gold and sliver mineralization. The Yellow Brick Road Zone is pyrite-chalcopyrite-galena bearing, vuggy quartz veins are up to 1 meter wide with an encompassing pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide. Off-shoot veinlets form local breccia and stock work in the altered wall rock.  Sulphides occur as coarse seams and dissemination within quartz vein material.

Table 1: Goldilocks Zone Channel Results 2019

https://www.globenewswire.com/NewsRoom/AttachmentNg/93219fa2-6a37-420e-8789-4a15f3573e33

3AuEq metal values are calculated using: Au $1574.05/oz, Ag $17.78/oz, Cu $2.56/lb, Pb $0.97/lb Prices on February 11th 2020

Table 2: Goldstar Property Highlights from 2017 and 2018 (DSM Oct 30th 2018)

Sample # Zone Channel/Chip/Grab1 Length (metres) Gold (g/t) Silver (g/t) Copper % Lead % Gold Eq3 (g/t)
W496968 Yellow Brick Road Grab   29.60 845.00 0.30 0.55 40.47
W497407 Yellow Brick Road Channel 0.30 28.70 410.00 1.40 6.00 38.88
W496863 Goldilocks Chip 1.00 20.60 329.00 0.00 0.02 24.55
W496860 Goldilocks Grab   11.70 313.00 0.09 0.03 15.60
W497406 Yellow Brick Road Channel 0.30 11.10 260.00 1.97 1.28 18.00
W496862 Goldilocks Chip 1.50 9.34 353.00 0.05 0.02 13.65
W496970 Yellow Brick Road float   6.82 141.00 0.54 0.05 9.40
W496969 Yellow Brick Road Grab   5.33 113.00 0.20 0.52 7.27
W386012 Yellow Brick Road Grab   4.90 74.10 0.05 0.46 6.10
W496920 Goldilocks Chip 1.00 4.28 133.00 0.00 0.00 5.87
W497408 Yellow Brick Road Channel 0.27 3.91 89.40 0.05 0.05 5.08
W496922 Goldilocks Grab   2.99 761.00 0.96 0.42 13.84
W496861 Goldilocks Grab   2.65 52.00 0.00 0.03 3.29
W496865 Goldilocks Grab   2.55 44.30 0.01 0.02 3.11
W496971 Yellow Brick Road Chip 1.00 2.45 48.50 0.25 0.03 3.44
W496921 Goldilocks Grab   1.42 32.50 0.00 0.09 1.85
W496924 Goldilocks Chip 0.50 1.15 27.00 0.00 0.00 1.47
W496919 Goldilocks Chip 1.50 0.77 19.10 0.00 0.00 0.99
W497409 Yellow Brick Road Channel 0.75 0.26 2.70 0.01 0.01 0.31
W496864 Goldilocks Grab   0.12 5.30 0.00 0.00 0.18
W3875154 Yellow Brick Road Grab   55.80 795.00 1.71 12.30 74.28
W3875134 Yellow Brick Road Grab   21.40 339.00 0.66 4.85 28.97
W3875174 Yellow Brick Road Grab   16.70 212.00 0.17 0.40 19.71
W3875164 Yellow Brick Road Grab   16.20 267.00 1.25 2.62 22.71
W3875124 Yellow Brick Road Grab   0.67 2340.00 1.67 0.11 31.39
W3875144 Yellow Brick Road Grab   9.28 152.00 0.07 0.13 11.28

1Grab 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 sampled2True thickness of mineralized zone not known3AuEq metal values are calculated using: Au $1222.9/oz, Ag $14.63/oz, Cu $2.8499/lb42017 Sample Data

Link to image gallery

Based on excellent results from very limited exploration, follow up exploration program is strongly recommended including inaugural drilling, additional mapping, prospecting, bedrock sampling, ground geophysics, and Lidar.

Extensive regions of snowpack and glacial recession also provide large areas with strong gold potential that remain unexplored.  Follow up work and drilling will focus on expanding the known extent of mineralization at the Yellow Brick Road and Goldilocks zones both along strike and to depth, which will lead to the understanding and modeling of this extensive gold-rich mineralizing system. Follow-up prospecting of the vast unexplored regions of the Goldstar Property adds to future discovery potential.

The Gold Star Property is situated on the central coast of BC and is located approximately 5.5 km from logging access roads and lies within 4.5 km of tidewater, which provides for good access to infrastructure.

The Gold Star Property is an original discovery with no previous recorded work in the area. The prospect was generated and staked by the DSM Syndicate following positive results from a reconnaissance prospecting program.

The DSM syndicate owns 100% of The Gold Star property covering 238 hectares that it generated and staked. DSM is a private project generator that holds a total of six B.C. properties with the goal of optioning them to qualified parties. Additional information can be found on the DSM website at www.dsmsyndicate.ca.

Juggernaut Exploration Ltd. (TSX-V: JUGR) owns a 20% interest in the DSM Syndicate.

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

All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, BC. ALS is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.'s lab in Vancouver, BC. The coarse reject portions of the rock samples, as well as the pulps, were shipped to DSM Syndicate's storage facility in Terrace, BC. All samples were analyzed using ALS Canada Ltd.'s assay procedure ME-ICP41, a 1:1:1 aqua regia digestion with inductively-coupled plasma atomic emission spectrometry (ICP-AES) or inductively-coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24 lead collection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 ppm for silver or 10,000 ppm copper, lead and zinc were additionally assayed using ALS's OG46 method particular to each element. This method used an HNO3-HCl digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the Au-GRA22 method which includes a fire-assay fusion procedure with a gravimetric finish. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence.

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.

For more information, please contact:

Juggernaut Exploration Ltd.

Dan Stuart

President and Chief Executive OfficerTel: (604)-559-8028www.juggernautexploration.com

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.

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. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.

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