Vancouver, British Columbia--(Newsfile Corp. - July 20, 2018) - Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC: JXMNF) is
pleased to announce that it has closed the final tranche of its non-brokered private placement announced June 5, 2018. The Company
closed on 2,000,000 units at a price of $0.12 for additional gross proceeds of $240,000. This over-subscribed the initial filing of
$390,000 by $205,140, bringing the total for both closings to $595,140. Each unit will comprise one common share and one-half
common share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at $0.20 per
share with an expiry date of two years from the closing of the private placement.
The use of proceeds will augment the Company's working capital for expenses that do not qualify for the $1,472,000 in
flow-through funds raised by Jaxon last year - see news release dated December 4, 2017.
The Company clarifies that its first close was 2,959,500 units (not 2,959,000 units as stated in its June 6, 2018 news
release).
The securities issued in the private placement will be subject to a hold period of four months plus one day following the issue
date, under applicable Canadian securities legislation.
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 Jason Cubitt 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 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.
