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Terrax Minerals Inc
Symbol TXR
Shares Issued 124,910,735
Close 2019-07-31 C$ 0.35
Market Cap C$ 43,718,757
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Terrax Minerals completes phase 1 drilling at Sam Otto

2019-07-31 09:45 ET - News Release

Mr. David Suda reports

TERRAX COMPLETES PHASE ONE DRILLING AT SAM OTTO AND COMMENCES DRILLING AT NORTH GIANT EXTENSION TARGET

Terrax Minerals Inc. has moved the 2019 summer drill program to Berry Hill at the Yellowknife City gold (YCG) project. Phase 1 at Sam Otto South has been completed with approximately 1,200 metres of drilling over one kilometre of strike extension. All holes intersected targeted shear zones and assays are pending. Terrax will return to Sam Otto South later this summer to follow up with more aggressive stepout holes intended to build strike extension to the south for an additional two kilometres.

Drilling activity has moved to the Berry Hill zone within the Barney deformation corridor (BDC) on trend with the North Giant extension. Approximately 900 metres of diamond drilling will test a prospective zone based on surface sample results and positive historical data that accompanied historical core acquired in late 2018. The goal is to define a multikilometre-long gold-bearing system that trends north from the last known workings of the Giant mine at the GKP zone.

David Suda, president and chief executive officer, stated: "This part of our summer program at Berry Hill is an early look at the potential to define gold structures trending at least eight kilometres onto Terrax property from the North Giant extension (NGX). We are working to define the continuation of a trend that produced over eight million ounces of high-grade gold in the past."

Upon completion of drilling at Berry Hill, Terrax will commence approximately 2,500 metres of drilling at the high-grade Crestaurum target. The company will announce more detailed plans in the coming weeks.

The technical information contained in this news release has been approved by Joseph Campbell, executive chairman of Terrax, who is a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About the Yellowknife City gold project

The Yellowknife City gold (YCG) project encompasses 783 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 kilometres of the city of Yellowknife, the YCG project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradespeople.

The YCG project lies on the prolific Yellowknife greenstone belt, covering 70 kilometres 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.

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