Mr. John Burns reports

JAXON DISCOVERS COBALT. THIS SEASON'S CHANNEL SAMPLING PROGRAM CONFIRMS OCCURRENCES OF GOLD WITH COPPER, COBALT AND ANTIMONY CREDITS

Jaxon Mining Inc. has received initial assay results from its first 112 chip samples from the Backbone prospect at its Red Springs project in British Columbia, and preparation for a drilling program is under way.

These chip sample results and other 55 surface grab/chip sample results were collected at Backbone and North Cirque areas from the 2017 and early 2018 exploration seasons confirm up to 1,000 metres of strike length at the high-grade gold-bearing tourmaline breccia mineralization zone at Backbone and North Cirque areas.

Highlights of the chip channel sampling program are:

• Five metres grading 6.78 grams per tonne gold including two metres grading 15.28 grams per tonne in Channel E;
• 13 metres grading 2.86 grams per tonne gold, including two metres grading 8.96 grams per tonne, in Channel D;
• One metre grading 6.57 grams per tonne gold and 1.35 per cent copper in Channel A.

Importantly, most chip channels taken at tourmaline breccia zone have ended in good mineralization before the outcrop was covered by overburden and floats. Some chip channels such as Channel B and C taken from wall rocks also show reasonable gold mineralization. Other results included surface outcrops a farther 200 metres north with channel samples of one metre at 1.07 grams per tonne Au at the top of the mountain. Together, the separate chip channels covered at least 500 metres along the strike at Backbone area only. Chip channel sample assays reported today total 112 samples with gold grades ranging from nil to 25.86 g/t Au. Chip channel samples are completed either over the tourmaline breccia zone or its wall rocks.

Other highlights include:

• Cobalt grades from four grab samples in the gold-bearing tourmaline breccia zone in the North Cirque is up to 0.10 per cent to 0.36 per cent.
• Another 80 chip channel samples from Backbone and North Cirque areas are expected to arrive in lab on Sept 20, 2018, to further defining the drilling targets for Jaxon's 2018 drilling campaign.

With completion of surface chip channel sample program at Red Spring project, materials are being delivered for the construction of drill pads under way in Backbone and North Cirque areas.

Preliminary induced polarization survey results at Backbone and North Cirque completed by Simcoe GeoScience are very encouraging and are being evaluated to help define the drill targets.

John King Burns, Jaxon's chairman, comments: "We are now preparing to drill test a number of anomalies indicated by our geophysical, surface and structural mapping, and confirmed by our channel sampling work. Our team's work continues to reveal more and more signs that we have discovered a remarkable and expansive polymetallic system. As the system's scope is unfolding, each of our indicators is confirming the other and the geology holds together. The assay results currently received show consistent occurrences indicating the potential for the presence of more high-grade gold mineralization with cobalt, copper and antimony credits. We are mobilizing to conduct an end of season drill program that will test these very attractive anomalies at Backbone. Please stay tuned -- if the weather holds and markets allow, the truth machines will start turning in the next few weeks."

       SIGNIFICANT ASSAY RESULTS FROM BACKBONE CHIP CHANNEL SAMPLES 

*Method                         FA/AAS      ICPM   ICPM   ICPM         
Element                             Au        Cu     Ag     Te          
Unit                    Length     g/t       ppm    ppm    ppm          

A0020755   Trench A   1 m chip   0.660      41.6    1.4    1.5   Wall rock
A0020756   Trench A   1 m chip   0.013     111.1    0.5    1.5   Wall rock
A0020757   Trench A   1 m chip   6.570  13,575.2   37.7   57.9      Tml Bx   
A0020754   Trench B   1 m chip   0.195      38.8    1.7    1.9   Wall rock
A0020759   Trench C   1 m chip   1.753     424.0    8.6   <1.5   Wall rock
A0020760   Trench C   1 m chip   0.074     127.9   10.2   <1.5   Wall rock
A0020761   Trench C   1 m chip   0.535     182.7    7.5   <1.5   Wall rock
A0020762   Trench C   1 m chip   0.276     225.1    4.0   <1.5   Wall rock
A0020763   Trench D   1 m chip   0.009       9.4    0.5   <1.5   Wall rock
A0020764   Trench D   1 m chip   1.628     138.8    1.6    9.2      Tml Bx   
A0020765   Trench D   1 m chip   1.971      26.8    0.7   12.0      Tml Bx   
A0020766   Trench D   1 m chip   1.809      20.3    0.5    5.4      Tml Bx   
A0020767   Trench D   1 m chip   2.955      48.7    1.0   10.1      Tml Bx   
A0020768   Trench D   1 m chip   0.759      21.1    0.5    4.9      Tml Bx   
A0020769   Trench D   1 m chip   0.804      39.7    0.6    3.6      Tml Bx   
A0020770   Trench D   1 m chip   2.397     117.8    1.3    8.5      Tml Bx   
A0020771   Trench D   1 m chip   7.110     161.4    2.1   16.7      Tml Bx   
A0020772   Trench D   1 m chip  10.810     141.7    3.1   27.9      Tml Bx   
A0020773   Trench D   1 m chip   0.381     161.8    1.5   <1.5      Tml Bx   
A0020774   Trench D   1 m chip   1.030      35.4    1.1   <1.5      Tml Bx   
A0020775   Trench D   1 m chip   4.160     115.1    1.3    7.6      Tml Bx   
A0020776   Trench D   1 m chip   1.361     137.7    0.8   <1.5      Tml Bx   
A0020781   Trench E   1 m chip   1.170     417.9    1.1    5.0   Wall rock
A0020782   Trench E   1 m chip   0.440     172.0    0.5    2.1   Wall rock
A0020783   Trench E   1 m chip   1.833     227.2    1.9    4.9      Tml Bx   
A0020784   Trench E   1 m chip  25.860     229.8    6.3   43.9      Tml Bx   
A0020785   Trench E   1 m chip   4.590     509.6    4.7    9.9      Tml Bx   
A0020792   Trench F   1 m chip   2.366     404.3    3.2    6.7      Tml Bx   
A0020793   Trench F   1 m chip   0.335     260.2    1.3   <1.5      Tml Bx   
A0020822   Trench H   1 m chip   1.074     350.7   16.0    2.4      Tml Bx   
A0020860   Trench J   1 m chip   0.345     450.2   17.5   <1.5      Tml Bx   
A0020861   Trench J   1 m chip   0.312     244.4    7.9   <1.5      Tml Bx   
A0020862   Trench K 1.3 m chip   0.685   3,382.1    7.2    3.2      Tml Bx   

* Interval lengths may not represent true widths.
"Tml Bx" means tourmaline breccia.

Qualified person

Yingting (Tony) Guo, PGeo, chief operating officer for Jaxon Mining, a qualified person as defined by National Instrument 43-101, has reviewed the chip channel sampling program, prepared the scientific and technical information, and verified the data supporting such scientific and technical information contained in this news release.

Sample preparation and analyses

Prospecting samples were collected in the field by experienced, professional prospectors and geological staff. The samples were numbered, described and located in the field for follow-up. Numbered rock samples tags were placed inside each bag, which was securely closed for transport to Jaxon's secure cold storage locked facility in Smithers, B.C. Representative sample slabs were cut from large specimens and halved rock samples so that portions of select samples could be saved for the Jaxon's rock library, descriptive purposes and petrographic study. Bureau of Veritas Commodities Canada, Metallurgical Division, of Richmond B.C. received the rice bag shipments after secure transport from Smithers and they prepared the samples by crushing, grinding and pulverizing to a pulp with barren material washing between each sample at the crush and pulverizing stages. Then 30 grams of pulp was used for the gold assay using code A0368AUAA1 gold by fire assay, AAS finish in g/mt and overlimit gold using code A0364AU Au FA/gravity in g/mt.

About Jaxon Mining Inc.

Jaxon is a precious metal and base 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 More Creek project (consolidating the Wishbone and Foremore properties) in British Columbia's Golden Triangle.

We seek Safe Harbor.