Jaxon closes private placement

JAX-TSX.V

VANCOUVER, Oct. 30, 2013 /CNW/ - Jaxon Minerals Inc (the Company) (TSX.V:JAX) has closed the non-brokered private placement announced in its press release of August 23, 2013. The Company will issue 7,085,000 common shares at a price of $0.10 per share for gross proceeds of $708,500. The common shares issued pursuant to the private placement will be legended with a hold period to expire on March 3, 2014.

Finders' fees commensurate with TSX.V policies totaling $35,800 will be paid from the Company's working capital.

The funds raised will be used to conduct exploration on the Company's Flin Flon-Snow Lake District properties and for working capital.

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.