Vancouver, British Columbia--(Newsfile Corp. - November 21, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) is
pleased to provide an update from the Fall/Winter 2017 drilling program at its 44,000-hectare Hazelton silver-zinc project, located
50 kilometres north of Smithers, in the Skeena Arch of British Columbia.
Eight out of fourteen drill holes are completed, totaling 1,344 metres out of a planned 2,000 metres, and the ninth hole is
underway. Four pallets of core samples have been shipped to MS Analytical Laboratories in Langley and Jaxon is awaiting assay
results.
Drilling Highlights:
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1,344 metres in 8 holes drilled to date; four pallets of core samples have been sent for assay;
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Observations from drill core provide strong evidence for a shallow marine VMS depositional environment;
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Sulphide mineralization has been intersected in all holes in the form of veins and disseminated sulphides. This
mineralization includes pyrite, sphalerite and sulphosalts, and has been encountered at both shallow depths and up to 190
metres down-hole. A number of holes bottomed in mineralisation;
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Multiple phases of mineralization have been observed, which is suggestive of a potentially large and long-lived system.
Max Drilling Targets
The Phase 1, 2,000-metre drilling program is taking place on the Max Target, on the north-eastern slope of Blunt Mountain. The
program is targeting volcanogenic massive sulphide (VMS) occurrences, high chargeability and low resistivity (high conductivity)
anomalies from the recently completed 2D and 3D IP survey coincident with highly mineralized channel, and soil assays. Many of the
targets are a combination of these targeting parameters. Data from a helicopter borne electromagnetic survey (VTEM) was also useful
in drill target selection.
Preliminary Geological Observations
Preliminary observations of drill core provide strong evidence for a shallow marine VMS depositional environment. The notable
features include intercalated rhyolitic and monzonitic volcanics with well-preserved volcanic tuffs intercalated with argillite and
altered greywacke beds. The nature of the sequences in the core generally indicates an active geological environment. Sulphide
mineralization has been intersected in each hole drilled. To date, ground conditions for drilling are excellent with all holes
reaching their projected depth.
All core samples are transported daily to Jaxon's secure core logging/cutting facility in Smithers. After logging, the selected
sections are cut in half with one half placed back in the core box, and the other half prepared for shipment to the assay lab. The
sample is placed in numbered plastic sample bags along with a sample number tag and immediately sealed. Samples are packed in rice
sacks, sealed, and palettized. The pallets are delivered to Bandstra Transportation Systems Ltd. in Smithers to be shipped to MS
Analytical in Langley, B.C., for analysis. MS Analytical is ISO/IEC 17025:2005 certified, and has its own in-house QA/QC program
utilizing blanks, duplicates and standards. Jaxon is conducting its own independent QA/QC program for the drill program which
includes the insertion of certified standards, blanks and limited duplicate samples. These samples are checked to ensure results
fall within acceptable target ranges.
It should be noted that turn-around times for assays are currently unusually long due to an increase in exploration activity in
British Columbia. Jaxon has a policy of not reporting visual estimates of mineralization as such estimates cannot be relied upon
with the same confidence as assay results.
A drill plan view map and selected core sample photos are included in this news release. Additional material including drill
site photos is available on the company's website at www.jaxonmining.com
Jaxon Drill Hole Map, Max Target, Hazelton Project
To view an enhanced version of this map, please visit:
http://orders.newsfilecorp.com/files/881/30678_a1511296537766_60.jpg
Jaxon Drill Core, Max Target, Hazelton Project
To view an enhanced version of this figure, please visit:
http://orders.newsfilecorp.com/files/881/30678_a1511296538376_83c.jpg
Complex contact between rhyolite (pale green-grey) and argillite. The contact relationships suggest either extrusion or
intrusion of the rhyolite into still unconsolidated sediments.
Jaxon Drill Core, Max Target, Hazelton Project
To view an enhanced version of this figure, please visit:
http://orders.newsfilecorp.com/files/881/30678_a1511296538501_18.jpg
Contact between rhyolite (green-grey)and argillite (black) grading into wacke (top compartment). The lower compartment shows
porphyritic monzonite. This rapid variation of intrusive and sedimentary rocks is supportive of a very active sub-marine
environment.
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
