Jaxon 1:10 Rollback

JAX-TSX.V

VANCOUVER, Aug. 23, 2013 /CNW/ - Pursuant to a resolution passed by shareholders on July 25, 2013, the Company has consolidated its capital on a 1:10 basis.  The name of the Company has not been changed.

Effective at the opening on August 27, 2013, the common shares of Jaxon Minerals Inc. will commence trading on the TSX Venture Exchange on a consolidated basis.  The Company is classified as a mineral exploration and development company.

Postconsolidation

Capitalization: unlimited shares with no par value of which 4,957,195 shares are issued and outstanding.

Escrow:  nil
Transfer agent:  Computershare Investor Services Inc.
Trading symbol:  JAX (unchanged)
Cusip No:  47189K109

Private Placement

The Company also announces that it intends to complete a non-brokered private placement of up to 8,000,000 post consolidated shares, at $0.10 per share, for gross proceeds of up to $800,000. Finder's fees commensurate with TSX.V policies will be paid on all or portions of the financing. The proceeds of the financing will be used for working capital and exploration on the Company's Flin Flon-Snow Lake District properties.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.

"Paul Zdebiak"

President

This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release  are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither 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.

SOURCE: Jaxon Minerals Inc.