Mr. Joe Campbell reports

TERRAX ANNOUNCES C$3.0 MILLION FINANCING

Terrax Minerals Inc. has entered into an agreement with PI Financial Corp. pursuant to which the underwriter will purchase, on a bought deal basis, 3.75 million units of the company at a price of 40 cents per unit and 2,678,572 flow-through units of the company at a price of 56 cents per FT unit, to raise aggregate gross proceeds of up to approximately $3.0-million.

Each unit shall consist of one common share and one-half of one transferable non-flow-through common share purchase warrant. Each FT unit shall consist of one flow-through common share and one-half of one warrant (to be issued on a non-flow-through basis). Each warrant shall be exercisable into one additional non-flow-through common share of the company for a period of three years from closing, subject to an exercise acceleration trigger, at an exercise price of 60 cents.

In addition, the company has granted the underwriters an overallotment option, exercisable in whole or in part at any time up to two days prior to closing of the offering, to purchase up to an additional 562,500 units and 401,786 FT units on the same terms as the offering. The company has agreed to pay the underwriter a cash commission of 6.0 per cent of the gross proceeds of the offering, including proceeds received from the exercise of the overallotment option. In addition, the company will issue on the closing of the offering to the underwriter compensation warrants entitling the underwriter to purchase, at 40 cents per common share, that number of common shares equal to 5.0 per cent of the aggregate number of units and FT units issued by the company under the offering (including upon exercise of the overallotment option) for a period of 24 months from closing.

The net proceeds of the offering are anticipated to be used to finance drilling and exploration expenditures at the company's Yellowknife City gold project and for working capital purposes. The closing of the offering is anticipated to occur on or around April 12, 2018, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.

The units and FT units will be offered by way of a private placement pursuant to exemptions from the prospectus requirements to residents of the provinces of British Columbia, Alberta, Ontario and such other Canadian jurisdictions as may be agreed to by the company and PI Financial. All securities issued under the offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing date.

About the Yellowknife City gold project

The Yellowknife City gold (YCG) project encompasses 772 square kilometres of contiguous land immediately north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Terrax controls one of the six major high-grade gold camps in Canada. Being within 10 km of the city of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 67 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district.

We seek Safe Harbor.