Juggernaut Files to Close Crescat Capital Increased to 19.97 % Ownership - Oversubscribed Financing BY Strategic Investors Increased to $1,000,440 HARD Dollars
JUGGERNAUT FILES TO CLOSE CRESCAT CAPITAL INCREASED TO 19.97 % OWNERSHIP
-
OVERSUBSCRIBED FINANCING BY STRATEGIC INVESTORS INCREASED TO $1,000,440
HARD DOLLARS
Vancouver, British Columbia – April 30th, 2024 – Juggernaut Exploration Ltd. (TSX-V: JUGR)
(OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) further to its April 8, 2024 and
April 9, 2024 news releases, the Company is pleased to announce the Company has filed
documents with the TSXV Exchange ( the “Exchange”) for approval to close its oversubscribed
non-brokered financing (the “Financing”) for 16,673,999 units taking Crescat Capital to 19.97%
ownership. The financing was increased to $1,000,440 hard dollars due to strong support from
long-term supporters and strategic investors alike . Crescat Capital LLC (“Crescat”) agreed to
increase its strategic investment to 19.9 7 % ownership of the Company post -funding and
Juggernaut welcomes this increased strategic investment from Crescat Capital and Dr. Quinton
Hennigh, who has long provided technical support for the projects. The Company looks forward
to his continuing guidance. Juggernaut’s High-Grade Copper and Gold projects continue to
garner strong interest and support from leading institutions and miners alike globally,
confirming the quality of its three fully permitted, 100% controlled, drill-ready projects, Midas,
Empire, and Bingo, located in world-class geologic terrane of Northwestern British Columbia
encompassing the Golden Triangle.
Through his role as technical and geologic director of Crescat Capital, Dr. Quinton Hennigh
continues to provide technical advice to the Company. Dr. Hennigh is a world-renowned
exploration geologist with more than 30 years of experience, including with major gold mining
firms Homestake Mining, Newcrest Mining, and Newmont Mining.
Dr. Hennigh stated, "Very promising results from 2023’s maiden drill program confirmed strong
potential for “Surebet” style intrusive-related gold-base metal lodes at Bingo. In addition, follow
up drilling at Midas continues to demonstrate the presence of a large volcanogenic massive
sulfide system in need of further work . With interest in the mining exploration space quickly
heating up, it is critical that companies like Juggernaut get back to the job of making discovery.
I look forward to working with the Company’s team as pl ans are made for this year’s drill
campaign at both of these exciting projects. "
View Juggernaut videos by Clicking Here.
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“We look forward to helping Juggernaut continue their work at Bingo and Midas in the coming
drill season , given the potential for a significant discovery, re marked Kevin Smith , Crescat’s
founder and Chief Investment Officer. “This is the same exploration team that delivered a major
gold and silver discovery for us at Goliath Resources’ Surebet. They are highly capable of doing
the same at one or both of these targets.”
Dan Stuart, Director, President, and CEO of Juggernaut, states:
“We are pleased to strengthen our relationship with Crescat Capital as a strategic investor and
Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our part-
ners, who bring a proven track record of both financial and technical strength. This will enable
Juggernaut to unlock the full potential of its assets over the long term, building value for all
shareholders. This investment and strategic partnership, coupled with the ongoing support and
interest from other globally recognized Institutions and senior miners, is a strong endorsement
that clearly demonstrates the significant near-term expansion discovery potential of our 100%
controlled properties—highlighting just one recent discovery on Bingo where multiple drill holes
intersected high -grade gold -silver-copper mineralization along an extensive north-trending,
west-dipping, shear-hosted vein with grades up to 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag
and 2.72 % Cu) over 5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70
% Cu) over 2.90 meters. The shear-hosted vein at the Bingo Main Zone is partially exposed at
surfaces for over 600 meters, and only the main outcrop has been drill -tested to date, leaving
the system open in all directions. With much anticipation, we look forward to expanding our
high-grade gold and copper discoveries through the drill bit on both Bingo and Midas in the
rapidly approaching summer of 2024.”
Link To Bingo High-Grade Gold Copper Discovery.
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 to purchase one common
share at $0.10 for a thirty-six-month period.
The Company is paying finder's fees of the gross proceeds from the financing in cash, broker
warrants, and broker units in accordance with TSX Venture Exchange policies.
The Financing is subject to Exchange approval. All shares issued pursuant to this Financing and
any shares issued pursuant to the exercise of warrants will be subject to a four-month hold
period from the date of issuance.
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Post financing, Juggernaut will have a tight capital structure, no debt, and a strong cash posi-
tion. As such, we are well-positioned to move forward with our plans.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat’s
mission is to grow and protect wealth over the long term by deploying tactical investment
themes based on proprietary value-driven equity and macro models. Crescat’s goal is industry
leading absolute and risk-adjusted returns over complete business cycles with low correlation
to common benchmarks. The company’s investment process involves a mix of asset classes and
strategies to assist with each client’s unique needs and objectives and includes Global Macro,
Long/Short, Large Cap and Precious Metals funds.
Crescat is advised by its technical consultant, Dr. Quinton Hennigh on investments in gold and
silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD
in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of
exploration experience with major gold mining firms, including Homestake Mining, Newcrest
Mining, and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp and is
serving as Chairman. Among his notable project involvements are First Mining Gold’s Springpole
gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the Fosterville Gold Mine in Australia,
the Rattlesnake Hills gold deposit in Wyoming, and Lion One’s Tuvatu gold project in Fiji, among
many others.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is a precious metals project generator in the geopolitically stable
jurisdiction of Canada, focused on the prolific geologic setting of northwestern British Columbia
encompassing the Golden Triangle.
Qualified Person Rein Turna P. Geo is the qualified person as defined by National Instrument
43-101 for Juggernaut Exploration’s projects. He supervised the preparation of and has
reviewed and approved the technical information in this release.
For more information, please contact
Juggernaut Exploration Ltd.
Dan Stuart
President, Director, and Chief Executive Officer
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604-559-8028
www.juggernautexploration.com
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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.