Mr. Jason Cubitt reports

JAXON ANNOUNCES CLOSING OF SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Jaxon Minerals Inc. has closed the second tranche of its non-brokered private placement previously announced on June 15, 2017. The second tranche closing consisted of the issuance of a total of 1,064,800 units at a price of 25 cents per unit for gross proceeds of $266,200.

As announced, the non-brokered private placement consists of the company issuing up to four million units at a price of 25 cents per unit for gross proceeds of up to $1-million. 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 35 cents per share with an expiry date of two years from the closing of the private placement.

The private placement is subject to TSX Venture Exchange approval.