It is my pleasure to share an introductory conversation with Mr. Dan Stuart, President and CEO of Juggernaut Exploration (TSXV:JUGR). Read on as Andrew O’Donnell, a new newsletter writer, and I grill Dan for 30 minutes about everything “Juggernaut”!

Peter Bell: Hello, Dan. There are quite a few photographs on the first slide in the presentation deck. Let’s talk about these to start. The banner shows a mountain range with a glacier. With all the glaciers receding around BC, there are new areas being exposed for mineral exploration. Very interesting setup where you have the opportunity to do old things in new places. Sampling program in 2016 a bunch of gold.

Dan Stuart: Thanks Peter. We're definitely on track with discovery and finding more than just gold. The photo at the top of the first page shows the Inca Trend on our Empire property. As you mentioned, glacial recession is occurring faster than ever as a result of rapid global warming. The loss of permanent snow pack has uncovered a 5.5 kilometer long mineralized trend for us where we are finding widespread high-grade gold, silver, copper, zinc, and lead. All of this indicates that there's a very large feeder system at depth responsible for pushing all this mineralization up to surface. As you can imagine we are very excited about this discovery.

Peter Bell: And there are 3 photos in the first slide showing sampling work. Does this show work done in 2017?

Dan Stuart: Yes, this was from the 2017 exploration program. The team was on the property for roughly 30 days. In that time, they expanded the Inca Trend from 1.5 kilometers by 1 kilometer to 5.5 kilometers by 1.5 kilometers.

Peter Bell: Wow.

Dan Stuart: And that's not including the Babylon Trend, which is 3.5 kilometers in length.

Peter Bell: Andrew, I see you there – feel free to jump in!

Andrew O’Donnell: Thanks, Peter. You've got the geological story, Dan. Can you tell us a little about the exploration team?

Dan Stuart: The exploration team is headed by Dr. Stefan Kruse, who has a PhD in geology. He's our Chief Consulting Geologist. Stefan actually won the Governor General's academic gold medal award for the best PhD. He was also a lecturer at the University of New Brunswick.

Our exploration team has been recognized by their peers in the industry for numerous significant discoveries. Members of Juggeranut’s team were part of the project generator recognized by the Yukon Government in 2000 that forms the nucleus of the Supremo Gold Zone, on the Coffee Creek Gold deposit that was purchased by Gold Corp in 2016 for $520M. That same team at Kodiak was recognized for The Golden Mile find and received Discovery of the Year in northern Ontario. Kodiak subsequently merged with Golden Goose, to become Prodigy Gold and was bought by Argonaut for $341 million. Then, they went to the Yukon and generated Goldstrike’s Plateau South discovery, which is now under a $53 million joint venture with Newmont Mining, the world's most profitable gold producer. More recently this team made one of the most significant new discoveries in 2017 in the Yukon on Goldstrike’s Luckystrike property. Members of Juggeranut’s team have helped unlock close to a billion dollars in value, through Discovery so it's a good group, obviously.

Peter Bell: Great experience in Ontario and the Yukon – do they have much experience in this part of northernwestern BC?

Dan Stuart: Yes, they had some prior experience looking through northwestern BC in the early 2000’s.They started generating targets privately through the bear market when there was very few looking. They were out there in the field in 2016 spending their capital as a private group, ground truthing the prospects they generated in world class geologic terranes .While most were frozen in their tracks we were out there looking for what could possibly move the needle for a major.

At some point, the market is going to come back. It appears the tide is turning for a commodity boom and the seniors are going to be looking for assets in geopolitically stable environments They need a lot of natural resources to feed their appetites and ensure their long term viability and success .On top of that, Canada and northwestern British Columbia is also one of the most geopolitically stable and safe regions to make a world class discovery. It looks like we may have two elephants by the tail, and when you find an elephant, you don't want it taken away from you half way through the game. Your shareholders deserve significant reward from a space that comes with significant exploration risk without added geopolitical risk. Being in Canada and northwestern BC maximizes reward opportunity for shareholders if and when a world class Discovery is made.

Andrew O’Donnell: And it’s not just about the rule of law, Dan. How is the infrastructure around your projects?

Dan Stuart: At the Midas project, we're 14 kilometers from power, CN rail, and roads. On the Empire project, we're only 8 kilometers from power, CN rail, and roads. Both of those projects are accessible by logging roads.

The first time I went to Midas in 2016, we went through a Tim Horton's drive-through in Terrace. 20 minutes later, I was standing on the claim block. Some of our team can go home and sleep in their own beds at night which is very cost effective.

Peter Bell: Nice. Care to comment on the terms for the project?

Dan Stuart: The two projects were optioned separately from the group and there were two $300,000 cash payments, 4.2 million shares, and 4.2 million warrants in the first year. There are work commitments each year and several other features, including an NSR. The terms give us an incentive to work hard at the property and we don’t think they will be problematic for potential partners as we are on track with what appears to be a new world class discovery in the making. The inaugural drilling this summer on multiple new bedrock discoveries could be a real game changer.

Peter Bell: Okay. Are the group who sourced this project significant shareholders for Juggernaut?

Dan Stuart: Yes, they are. They own approximately 25% of the company, probably making them the largest shareholders of the company.

Peter Bell: Wow. I wonder if we will see them on the insider filings?

Dan Stuart: There are several members of the private project generation syndicate whom Juggeranut optioned the properties from, depending on each entity’s ownership that would be disclosed if they are over 10%.

Peter Bell: And how about this public company itself. Is it a new issue or did it have some prior life?

Dan Stuart: It was formerly Ardon Blue Ventures, which went through one-for-ten rollback that brought the share count down to 16.4 million shares. Empire and Midas were optioned into Ardon Blue separately, the name was changed to Juggeranut which means an unstoppable force, and that put us on the track were on now with discovery.

Andrew O’Donnell: Can you tell us a bit more about those two projects, Empire and Midas?

Dan Stuart: Midas has a brand-new discovery called the King Solomon gold zone. It’s a new gold zone that covers 2.1x1.6 kilometers that was previously buried under permanent snow pack. The BCGS actually mapped a 10x18 kilometer of altered rocks that we used to help guide our exploration, ultimately leading to the discovery of the King Solomon zone. JoAnne Nelson and her colleges from the BC Geological Survey hypothesized that this would be one of the last regions in the province that has potential for untapped VMS deposits, like Eskay Creek or Snip style mineralization. JoAnne actually met with our group and said, "This discovery you've made is what I thought was always there."

Peter Bell: Wonderful.

Dan Stuart: It’s great to have the BC government saying, independently, where to look for new gold and then to have a discovery there.

Peter Bell: Was there a large-scale geophysics program done by Geoscience BC.

Dan Stuart: After the plans for LNG development got derailed in Terrace and Kitimat due to a low oil price, the government made a decision to do something in that part of the province. They commissioned a large helicopter airborne survey and released it to the public. Of course, it was right in the middle of the bear market so not many did much with it.

Peter Bell: Did your group stake this land themselves?

Dan Stuart: Yes, they did. As I said, they are a very experienced group and they got lucky again, the harder we work the luckier we get They were in the right place at the right time with this one.

Andrew O’Donnell: How about possible exit scenarios, Dan? Are you positioning yourself as a project generator, or trying to take this to a major, or are you actually looking to build a mine yourself?

Dan Stuart: Our group is really good at project generation and exploration resulting in discovery. We're not miners, but we will continue to press the puck. This project deserves to be taken forward under any and all circumstances, and we will do our part to move it along.

Peter Bell: Are you cashed-up right now?

Dan Stuart: If all the options and warrants are exercised then we would have $7 million in the bank. As per the last financials, we have $555,000 in the treasury. We are exploring a wide variety of different ways to finance our inaugural drill campaign in 2018.

The initial raise of the company was $3 million at 15 cents with a full warrant at 25 cents. We were oversubscribed with offers for $7 million, but we didn't want that much dilution at that price level. Out of the $3 million that we did take, $2 million came from what would be considered to be the technical community – heads of institutional desks, mining analysts, geologists, geophysicists, and fund managers that specialize in this space.

Peter Bell: The type of people who would have known about the BC government report when it first came out!

Dan Stuart: There were some sophisticated investors who were smart enough to see that we were onto something significant in the early days. Mineral exploration is a risky business, but a lot of the risk has been taken off the table, now it’s time for drilling.

Peter Bell: I wonder – is it ready for drilling? If last year’s work program was only 30-days of sampling, then why not do more of that?

Dan Stuart: It’s a great question, Peter. Part of it has to do with our expenditure commitments under the option agreement and part of it has to do with the fact that we want to move the projects forward rapidly. The mineralization is literally staring us in the face and the rocks haven't even had a chance to oxidize since the glaciers have retreated.

Some of the prospecting was done via helicopter – as you fly along the ice sheet, the geologists can see alteration and mineralization. Several times the geologists have made new discoveries right after they land.

The Rock Star Zone, for instance, is currently 1 kilometer by 530 meters and it remains open. Our geologists only worked on it for two days in 2017 and 100% of the channel samples contained significant gold, copper, zinc, and lead mineralization. 92% of all the grab samples ran with gold, copper, zinc and lead. They were only on there for two days, but they found a lot of joy right away.

We're going to get in there early as possible this year and run an IP survey to trace the extent of the surface mineralization to depth prior to drilling, we are targeting elephants There is a tight window to get a lot of work done, so the program has to be choreographed perfectly.

Peter Bell: How long can you work on the projects, typically?

Dan Stuart: Realistically we can be hitting these two new discoveries, Empire and Midas from June 1st until Sept 31st.

Peter Bell: I wonder how much mapping needs to be done with the glacial retreat. All the basics, right?

Dan Stuart: There are good and bad sides to working in new areas like this, Peter. The good side is that you get to look at rocks no human has ever seen before. The challenge is that you have relatively little information going in, but keep in mind that all these projects were vetted by the geologists; we have the best of the best here.

We've done some mapping and we're going to do more. As I mentioned earlier the IP ground geophysics that we plan to run this coming season is very important. There’s a lot of technical work required to really understand this animal, but it’s quite blatant what we're looking at.

Peter Bell: Exciting stuff, Dan. How did the market react to some of the assays from the first round of field work in 2017?

Dan Stuart: After we closed the 15 cent financing, we went out into the field and started exploring. The stock traded around 9 million shares from 40 cents up to nearly 60 cents. Then, all the excitement got sucked out of the exploration space. Our investors were sitting on substantial gains at that time and we saw another 5-9 million shares trade through and move the stock down to where it is now, around 23-25 cents. All the excitement around the marijuana stocks, which I call Marijuana Madness, and cryptocurrencies, which might just be kleptocurrencies, really seemed to combine with tax-loss selling in late 2017 to take a lot of wind out of the sails of many junior exploration stocks.

Peter Bell: That’s a lot of trading for an early-stage junior! You guys must have been one of the stronger stories here in second half of 2017 – at least one of the stronger stories that most people weren’t talking about, anyway. There were some real high-flyers last year. It’s probably a good thing you didn’t get drawn into any of that phenomenon that can take valuations to silly levels. Really skews risks to the downside.

Dan Stuart: Right. And we don’t want to leave the market holding the bag.

Go back and consider where GT Gold was trading in summer 2017 before they drilled. They got to those levels based on a gold in soil anomaly. Around that time, we were finding gold in bedrock at the Midas project.

We have a gold in soil anomaly that extends for 1.1 kilometers by 800 meters! The soil samples are running up to eight grams per tonne gold! That’s off the scale for most soil sampling programs.

I look at what we found on Midas, as prophesized by Joanne Nelson and the BCGS, and imagine what one drill could do here. It could be a paradigm shift – game changer for any junior. That project is 100% inside this company. Then consider Empire. It has 5.5 kilometers of mineralization exposed where the glaciers have receded. I wonder if I’m missing something or if it’s the market.

Some people in the technical community have said to me that this all reminds them of GGI back when they were trading at 10 cents. They put out photographs of drill core and all of a sudden, the stock was at $5.10.

We have what you could consider to be GGI and GTT under one umbrella embarking on its inaugural drill campaign.

Peter Bell: Well, it’s a lot to take in. I do appreciate that you have two projects in there – small enough to stay focused, but good to have a backup. With VG in the channel samples, you could get some screaming assays. Let alone some pretty pictures!

Dan Stuart: We've had a lot of good numbers in a short period of time.

Peter Bell: You mentioned the stock price a bit. What are ballpark numbers for the market cap?

Dan Stuart: We've got 61.5 million shares out. If you take 23 cents as a recent price, then we're around a $12-13 million market cap right now.

Peter Bell: That sounds fair. I think I saw mention of eight cents warrants in the slide deck?

Dan Stuart: The warrants at eight cents are for the underlying syndicate who optioned the projects into the company as a way to get them positioned in the company. Those warrants have some escrow provisions on them as they are long-term believers in the project. We all believe that we're onto something significant here.

Peter Bell: And there are 25 cent warrants associated with the last financing. Those are not far off.

Dan Stuart: As we traded 6-9 million shares between 40-60 cents, we didn’t see any of those 25 cent warrants come in. All of those warrants from that initial $3 million financing are still out there. Nobody's exercised them yet – they want to hold on to them because they believe in the project just like we do.

Peter Bell: With a little lift in the market, you could be trading above 30 cents and those warrants would be in the money again. What's the maturity date on those ones?

Dan Stuart: If they trade at 50 cents or higher for 10 days or more, then they are accelerated.

Peter Bell: Good.

Dan Stuart: We were not far from that last year.

Peter Bell: Another round of channel sampling could get you up there again to the 60-cent range.

Dan Stuart: We're done channel sampling for now. We're going drilling.

Andrew O’Donnell: In a nutshell, why Juggernaut?

Dan Stuart: A original discovery of widespread high-grade polymetallic mineralization at surface found due to glaciers receding. Located right by power, CN rail, roads, and the Kitimat deep sea port. You've got a mining town of 30,000 people just down the road.

We're getting samples with 58 grams per tonne gold, 1,180 ounces per tonne silver, 30% copper, 30% zinc, 29% lead on the newly-discovered Inca Trend that is 5.5-kilometers long. We found that with only 34 days of exploration on the ground in our first year at the project. The wide spread mineralization coupled with extensive potassic alteration indicates a large porphyry at depth; the mineralization also remains open along strike.

And then there’s the Midas project, which was prophesized by JoAnne Nelson at the BCGS. This is one of the last untapped regions for VMS-style mineralization in BC. Think Eskay Creek, Snip, and Tulsequah Chief mines. The permanent snow pack at Midas is now gone and it’s ready for exploration. We have gone out and made what has the makings to be a new world class discovery within a large gold corridor covering 2.1 by 1.6 kilometers that remains open. Bedrock and channel samples have returned up to multiple ounces per tonne gold in assays. It’s close to power, CN rail, and roads as well.

You can drive right on to both properties and we plan on drilling multiple new bedrock discoveries this season in a world class geologic terrain, elephant country.

Peter Bell: That's what the market wants to hear, Dan. I can say, "Channel sample, channel sample, channel sample," but that's not what is going to get everybody excited here. Have we seen you before with any public companies? I see some info on your career and it looks strong. Good work.

Dan Stuart: Thanks, Peter. It’s been fun talking with you and Andrew here today.

I started in the broker’s business 24 years ago with Yorkton Securities. I've worked at two investment dealers over that time. I started my own firm December 1st 2009 as I found out that this is what my passion was. As a broker, your commission grid drops to zero every 30 days. They have to go out and make deals. Sometimes it becomes like “adopt a deal” for them as they're just grabbing any company that's coming through the door to finance it, get the fees, and carry on. A lot of the time, they never really know what's going on with the story; never really get to know the management team or the internal workings. What I wanted to do is back proven teams of explorers that really have a vested interest in particular projects. Write my own checks into the companies, bring my associates in, and we stick with these companies through thick and thin.

We've got a world-class team in Juggernaut and it appears we could be onto a world-class discovery or two. I think we have the recipe for success.

Peter Bell: Certainly. Thank you, Dan.

This document contains statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Peter Bell has not been compensated to prepare and distribute this promotional material.