Vancouver, British Columbia--(Newsfile Corp. - November 9, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) is pleased
to provide the following update from its Fall/Winter 2017 drill program at the Company's Max silver-zinc target area at the
Hazelton Project in the Skeena Arch, British Columbia.
Highlights:
- Two additional holes completed - 270m north of hole 1
- Testing high chargeability IP anomaly with modelled 50m thickness and greater-than 200m strike length
- IP target in close proximity to sulphide outcrop rich in zinc and silver bearing sulphosalts
- Moving drill 500m west and upslope 200 vertical metres to second sulphide-in-outcrop zone
Jaxon Mining has completed the second and third drill holes, JAX 17-02 and JAX 17-03, for a length of 201m and 150m
respectively. Both holes were drilled from the same pad location, approximately 270m north of drill hole JAX 17-01. These first
three holes test chargeability targets (the Hamlin IP target zone) from the Volterra 2D induced polarization (IP) inversion below
the survey line 4000E. The associated 2D inversion cross-section model depicts flat lying high-chargeability features with
thickness of 50m and individual strike length of greater than 200m. This IP target is in close proximity to outcropping sulphide
exposures previously channel sampled at the 550 Zone and rich in zinc and silver bearing sulphosalts (See JAX News Release Aug 9,
2017), as well as airborne geophysical VTEM conductive zone targets.
Jaxon is moving the drill to a third location about 500m further west of the Hamlin IP target zone and upslope approximately 200
vertical metres to a location near the sulphide exposures trenched and channel sampled at the 724 zone (See JAX News Release Aug 9,
2017). At this location the sulphide exposures are also rich in zinc and silver bearing sulphosalts and are closely associated with
iron pyrite which Jaxon interprets as being highly chargeable in the 3D Volterra detailed IP survey.
At surface the area is characterized by a red-brown gossanous colouration in the bedrock exposed in a rockslide on the north
side of a creek gully. A strong 3D IP chargeability anomaly is developed at surface, co-incident with the mineralised outcrops, and
is well developed at depth for a strike length of over 200m with a co-incident low resistivity anomaly. The geophysical anomaly and
mineralised exposures are also coincident with very anomalous antimony-silver-zinc soil geochemistry. This zone is known as the 700
North Zone IP Anomaly. Drill hole JAX 17-09 will commence today and will be drilled at an 80 degree dip to an estimated depth of
120m.
All drill core in wooden sample boxes are removed by Jaxon staff from the drill sites daily and transported to Jaxon's secured
drill core logging and core cutting facility in Smithers, British Columbia. After completion of the drill core saw cutting and
QA-QC preparation for each hole, the batch of samples are sent by secure transport to the sample preparation laboratory and
analytical facilities in Langley, British Columbia. The Company expects the first batch of drill core samples to be shipped at or
around November 12th.
This news release has been reviewed and approved by Derrick Strickland, P.Geo. a qualified person for the purpose of National
Instrument 43-101, standards and disclosure for mineral projects.
About Jaxon
Jaxon is a precious and base metals exploration company with a regional focus on Western Canada. The company is currently focused
on advancing its Hazelton Project in north-central British Columbia and the More Creek Project (consolidating the Wishbone and
Foremore properties) in BC's Golden Triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.
"Jason Cubitt" ______
Jason Cubitt, President.
For further information regarding Jaxon Mining Inc., please contact Mark Carruthers
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
