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Enter Symbol
or Name
USA
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Jaxon Minerals Inc (2)
Symbol JAX
Shares Issued 51,970,367
Close 2017-08-28 C$ 0.37
Market Cap C$ 19,229,036
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Rotation options 75% of Stock project to Jaxon

2017-08-28 18:15 ET - News Release

See News Release (C-ROT) Rotation Minerals Ltd

Mr. Bradley Rourke of Rotation Minerals reports

ROTATION OPTIONS STOCK PROPERTY TO JAXON MINERALS INC.

Rotation Minerals Ltd. has entered into a binding letter of intent (LOI) with Jaxon Minerals Inc. to option a 75-per-cent interest in the Stock property to Jaxon.

The Stock property covers 4,127 hectares, and is located just west of Ascot Gold's Dilworth property and south of Rotation's Scottie gold mine in the heart of British Columbia's famed Golden Triangle. The Stock property has been explored intermittently since 1921, with numerous tunnels and crosscuts, one extending 300 metres. Mineralization on the property includes silver, gold, tungsten, copper, lead and zinc in beds of a siltstone complex. The most recent assessment report from 1980 indicated that silver mineralization "is widespread in the sedimentary sequence -- every one of the 201 samples taken in 1980 contained silver values."

Note: The historical sample information quoted above is not National Instrument 43-101 compliant and should not be relied upon.

The terms of the LOI include Jaxon spending $375,000 on the property over four years. Jaxon will also participate in the company's private placement by purchasing 1,333,334 units at 15 cents per unit, with each unit including a common share and a share purchase warrant exercisable at 25 cents for two years. The LOI is subject to acceptance by the TSX Venture Exchange.

Brad Rourke, president of Rotation, stated: "Rotation is pleased to have attracted a quality partner in Jaxon Minerals Inc. to advance the Stock property. This agreement will free up company resources to focus on the Scottie and Four J's properties."

The area known as the Golden Triangle of British Columbia is among the world's most prolific mineralized districts, host to past and current mining operations, including Johnny Mountain, Red Mountain, Snip mine, Premier mine, Golden Bear and Valley of the Kings. The Golden Triangle has reported mineral resources (past production and current resources) in total of 67 million ounces of gold, 569 million ounces of silver and 27 billion pounds of copper.

Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the company. Mr. Kruchkowski is a director of the company.

About Rotation Minerals Ltd.

The company has the option to earn up to a 70-per-cent interest in the 4-J's property and an agreement to purchase a 100-per-cent interest in the Scottie property, both located in the Golden Triangle area of British Columbia.

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