Vancouver, British Columbia--(Newsfile Corp. - November 2, 2016) - Jaxon Minerals Inc. (TSXV: JAX) is pleased to announce that
it has closed a 10,400,000 unit private placement at $0.07 per unit to raise $728,000. Each unit consists of a common share and one
half share warrant with one full warrant required to purchase an additional common share at $0.10 up to October 28, 2017.
The Company also reports that the TSX Venture Exchange has accepted for filing the acquisition of the Price Creek Option
agreement with CJL Enterprises Ltd. as reported on in the News Release dated September 29, 2016. The Price Creek Property has seen
considerable historic exploration and the Company is in the process of reviewing data and planning for the coming exploration and
drilling campaign. This property with reported potential Eskay Creek/Equity Silver style mineralization was visited by Company
personnel during the course of its due diligence and grab samples taken from trenches reported the following assay results:
Sample No. |
Location (showing) |
Au
PPB (g/t) |
Ag
PPM (oz/t) |
Pb
% |
Zn
% |
16-01 |
Knoll View |
6259 (6.26) |
39 (1.25) |
4.99 |
4.45 |
16-02 |
Creek |
4732 (4.73) |
> 1500 (>48.2) |
19.59 |
5.7 |
16-03 |
Ted |
488 (0.49) |
213 (6.85) |
12.21 |
6.46 |
16-04 |
Main |
659 (0.66) |
65 (2.1) |
1.07 |
21.29 |
Assays were provided by Bureau Veritas, an ISO accredited lab. Lead and zinc were analyzed by their MA410 technique
and gold/silver by FA330 (gold) and lead collection plus ICP (silver).
This news release has been reviewed by Glen Macdonald, P.Geo. (a qualified person for the purpose of National Instrument 43-101,
Standards of Disclosure for Mineral Projects).
Leif Smither, President, states: "The Price Creek acquisition is a compelling story and has significant upside as an advanced
exploration project that Jaxon intends to aggressively explore. The coming year will be an exciting time for shareholders".
During the compilation and analysis of historical information, the Company will from time to time be publicizing results of its
findings.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.
"Leif Smither"
Leif Smither, President.
For further information regarding Jaxon Minerals Inc., please contact Leif Smither
at 604-608-0400, Toll free: 1-877-608-0007.
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
Regulations 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.