Mr. John Burns reports

JAXON ANNOUNCES FINANCING

Jaxon Mining Inc. has arranged a non-brokered private placement of up to 5,833,333 units at 12 cents per unit for gross proceeds of $700,000, and two million flow-through units at 15 cents per flow-through unit for gross proceeds of $300,000.

Each unit comprises one common share and one-half common share purchase warrant. Each whole purchase warrant will entitle the holder to purchase one common share at 20 cents per share for the non-flow-through units and 24 cents per share for the flow-through units. The warrants will have 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 for general working purposes and general advancement of the Hazelton property.

About Jaxon Mining Inc.

Jaxon Mining 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.

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