Private Placement Update

Toronto, Ontario (FSCwire) - PJX Resources Inc. (“PJX” or “the Company”) is pleased to announce an update to the previously announced non-brokered private placement of Flow Through (“Flow Through Units”) and Non-flow Through Units (“Units”) at a price of $0.17 per Flow Through Unit and $0.15 per Unit for gross proceeds of up to $1,950,000 (the “Private Placement”). The Private Placement has been fully subscribed and the Company will make provision for an over-allotment option to allow the Company to increase the size of the Private Placement by up to 30% to issue a combination of Flow-Through Units and Units at a price of $0.17 per Flow Through Unit and $0.15 per Unit for gross proceeds of up to $2,550,000 (the “Increased Offering”). As disclosed in the Company's news release dated October 31, 2016, the Company has closed the first tranche of the Increased Offering. All other terms and conditions of the Private Placement previously announced by the Company in its news releases dated October 26 and 28, 2016 will remain the same in the Increased Offering.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia. 

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205

info@pjxresources.com 

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the 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.

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