Juno Corp. Makes Three Ring of Fire Discoveries

2024 Summary of Activities

/EIN News/ -- TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Juno Corp. (“Juno” or the “Company”), a private Ontario exploration company and the largest mineral claimholder in the mineral-rich Ring of Fire in northern Ontario, is pleased to announce the highly successful results of its 2024 exploration activities. With early and impressive discoveries, strong partnerships, and innovative methodologies, Juno is solidifying its position as a leader in unlocking the immense potential of this emerging critical mineral and gold district.

Robert Cudney, Juno’s founder and CEO stated, “The Ring of Fire is increasingly recognized as a critical minerals district essential to Ontario and Canada, and as a potential secure source of strategic minerals to North America. By integrating advanced geophysics, AI-driven targeting, and state-of-the-art drilling techniques, we believe that we have not only begun to validate the region’s untapped potential but positioned Juno as a leader in modern exploration.”

Mr. Cudney added, “Since Juno’s inception, our mission has been to discover critical minerals and gold deposits in the Ring of Fire. Over the years, our highly qualified and experienced team, assembled an extensive land package, compiled invaluable exploration data, and conducted innovative geophysical surveys to identify high-priority drill targets. In early 2024, we launched drill programs on selected targets, resulting in three significant new discoveries. To accelerate our progress, Juno is leveraging AI methodologies to analyze our vast proprietary dataset more efficiently and intelligently. What once required many man-years will now be achieved faster and with greater precision in 2025.”

Jacob McKinnon, Juno’s President & Chief Operating Officer stated, "We look forward to continuing to work and collaborate with Webequie and Marten Falls and all of the region's First Nations communities to advance shared goals and infrastructure developments. The Company envisions enormous prosperity for the surrounding First Nations communities once sustainable and inclusive resource development takes place. Juno currently has signed Memorandum of Understanding/Early Exploration Agreements with three nearby communities. Those agreements look to foster economic participation and support for local cultural and commercial activities. Juno continues to strive to mitigate potential impacts to Traditional Lands from its exploration activities now and into the future.”

Mr. McKinnon added, “Juno recognizes and supports Premier Doug Ford's statement that the Ring of Fire is of National Strategic Importance, to both the Canadian and United States economies. The Company is also working with the Ontario government to ensure reasonable timelines and guidelines for low-impact exploration activities.”

2024 Highlights

• Three discoveries made in 2024 – Vespa, Pluto and North Edge
  
  • Vespa Complex – potential for large, high-grade critical minerals deposits
    
    • 24 holes drilled to a 200m depth along 6km of a 20km long high magnetic trend discovered high-grade vanadium-titanium-scandium and high-purity iron (See Fig. 1)
      
      • VES-24-003: 22.0% Fe, 4.3% TiO₂, 0.5% V₂O₅ over 103.0m from 62.0m
        including: 48.7% Fe, 10.9% TiO₂, 1.1% V₂O₅ over 25.1m from 74.7m
      • VES-24-015: 33.2% Fe, 7.5% TiO₂, 0.7% V₂O₅, over 79.8m from 12.2m
        including: 43.2% Fe, 10.2% TiO₂, 0.9% V₂O₅, over 55.1m from 15.6m

• Very encouraging “phase one” magnetic separation and gravity metallurgical test work on Vespa massive and semi-massive core produced two metal products:
  • high grade vanadium and high-purity iron concentrates
    • 65% Fe, 2% V₂O₅
  • high-grade titanium concentrate
    • 70% TiO₂, up to 75 g/t scandium
      

(See press release dated January 29, 2025 titled “Juno Corp. Discovers Extensive Critical Minerals in the Ring of Fire” for complete drill results for the Vespa Complex)

• Pluto and North Edge - North Arm Ring of Fire – potential for a new emerging gold district
  
  • Two high-grade gold discoveries
  • Twenty-six holes drilled to date; all intersected anomalous to multi-ounce gold values over varying sample widths
  • Early-stage drilling along 19km of an interpreted 150km long greenstone belt (See Fig. 2)
    
  • The identification of 4 gold bearing structures to date confirm the potential to define a new Archean gold district in Ontario
    
  • Pluto Target
    
    • PLU-24-001: 78.9 g/t Au over 3.9m from 104m depth
      including 370.0 g/t Au over 0.6m from 105m depth
    • PLU-24-007: 3.9 g/t Au over 16.0m from 297m depth
      including 15.8 g/t Au over 4.0m from 297m depth

• North Edge Target
  • NDG-24-002: 25.9 g/t Au over 2.3m from 19.5m depth
    including 72.9 g/t Au over 0.8m from 19.5m depth

(See press release dated January 29, 2025 titled “Juno Corp. Announces Two Gold Discoveries in the Ring of Fire” for complete drill results for Pluto and North Edge)

• Increased mineral claim holdings by 800 square kilometres (now totalling 4,600 sq. km and 55.6 % of the mineral claims in Ring of Fire) to acquire newly recognized North Arm Ring of Fire, potentially a new Archean Gold District (See Fig. 3)
  
• Juno completed a three-year, detailed compilation and digitization of some C$150 million of high-quality, archived exploration
  
• In addition, Juno has conducted massive helicopter, drone and ground geophysical surveys and has amassed a vast amount “state-of-the-art” technical proprietary data
  
• Now, with this huge proprietary dataset in digitized format, Juno is in a leadership position in the Ring of Fire and has initiated the employment of artificial intelligence systems to process, interpret and evaluate this huge dataset
  
• Advanced drill capabilities of Juno’s wholly owned “scout drills” from 20m depth to 250m depth
  
• Very Successful 2024 financings
  
  • Raised C$36.5 million dollars including C$34.8 million at C$2.50 per common share and at C$3.00-C$3.70 per flow-through share
  • Added strategic investor
  • Very well funded with an unaudited cash balance of approximately C$32 million at the end of 2024

• Corporate Structure
  • Basic Shares Outstanding - 75.1 million
  • Options and RSUs outstanding – 9.6 million
  • Warrants outstanding – 0.7 million
  • Market capitalization C$187.6 million (at last financing price of C$2.50 per share)
  • Juno team member’s hold 25% of outstanding shares

Looking Ahead to 2025 and Beyond

Jeremy Niemi, Chief Strategy Officer at Juno stated, "The exploration successes and advancements in 2024 confirm to us the immense potential of the Ring of Fire as a globally significant critical mineral and gold district. The work ahead in 2025 will focus on unlocking even greater value from this transformational district." He continued, “Juno is well funded to execute its priorities for 2025 which will include additional drilling at Vespa and North Arm to expand known strike lengths and potentially make new major discoveries. We will conduct advanced AI-driven targeting studies to leverage Juno’s vast foundational dataset.”

Figure 1. Hole locations at Vespa over drone magnetic survey

Figure 2. Hole locations at Pluto and North Edge over geology

Figure 3. Juno claim holdings and discovery locations in the Ring of Fire

Qualified Person

Scott Zelligan, P.Geo., a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained herein. Mr. Zelligan has verified the data disclosed in this document with original assay certificates and no limitations were imposed on his verification process.

About Juno Corp.

Juno Corp. is a private Ontario-based exploration company and the largest mineral claim holder in the Ring of Fire. With 4,600 km² of claims, Juno is at the forefront of unlocking the region’s critical mineral and gold potential through innovation, collaboration, and responsible exploration.

For more information please contact:

Jeremy Niemi
Chief Strategy Officer
416-628-5902
info@junocorp.com
www.junocorp.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable United States securities legislation, together, “forward-looking statements.” Such forward-looking statements contain known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements, or developments within the mining industry, to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “aims”, “plans”, “anticipates”, believes”, “intends”, “estimates”, “projects”, “potential”, and similar expressions, or that conditions “will”, “would”, “may”, “could”, or “should” occur. Forward-looking statements included in this news release include, but are not limited to: (i) the expected development of the Company’s projects, including expectations regarding drilling and exploration activities; (ii) execution of the Company’s vision and growth strategy, including with respect to any future activity; (iii) sources and availability of third party financing for the Company’s projects; (iv) completion of work currently underway, in development or otherwise under consideration; and (v) future liquidity, working capital, and capital requirements. Information inferred from the interpretation of exploration results and information concerning potential mineralization may also be deemed to be forward-looking statements, as such information constitutes a prediction of what might be found to be present if a project is actually developed. There can be no assurance that such statements will prove to be accurate. Actual results and future events may differ materially from those anticipated in such statements and readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company’s expectations could include among others: risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the properties in question; political uncertainty; the Company’s inability to obtain property rights and interests as currently proposed or at all; uncertainties in the estimation of any potential future mineral resources or reserves; the possibility that required permits may not be obtained in a timely manner or at all; the possibility that capital and exploration costs may be higher than estimated and may preclude or render future exploration and development uneconomic; risk of accidents, equipment breakdowns or labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or other unanticipated expenses in work programs; the risk of environmental contamination or damage resulting from the Company’s operations; risks associated with title to mineral properties; risk associated with the COVID-19 pandemic; and other risks and uncertainties discussed elsewhere in the Company’s documents made publicly available from time to time. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as expressly required by applicable securities laws the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors, should change.

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Figure 1

Hole locations at Vespa over drone magnetic survey

Figure 2

Hole locations at Pluto and North Edge over geology

Figure 3

Juno claim holdings and discovery locations in the Ring of Fire