Mr. Jason Cubitt reports

JAXON INCREASES FINANCING AND GRANTS STOCK OPTIONS

Jaxon Minerals Inc. has increased its non-brokered private placement first released on July 24, 2017, of up to 1.5 million units to two million units for gross proceeds of up to $600,000. As previously disclosed, each unit is priced at 30 cents and 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. A finder's fee commensurate with TSX Venture Exchange policies will be paid where applicable.

The funds raised will be used to continue field exploration of the company's Hazelton project (formerly Price Creek) and continue data compilation in anticipation of fieldwork on the company's Wishbone/Foremore project, as well as for general working capital purposes.

Jaxon Minerals also announces that the company has granted a total of 50,000 new stock options to a consultant of the company. The options granted are for a period of two years, expiring on July 24, 2019, and are exercisable at a price of 37 cents.

About Jaxon Minerals Inc.

Jaxon is a base metal and precious metal 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 Wishbone/Foremore property in British Columbia's Golden Triangle.

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