Mr. David Mc Donald reports

AXE COMPLETES WORKS ON THE UNIQUE PROJECT AND MADE A NEW GOLD DISCOVERY

Axe Exploration Inc. has discovered a new showing on the Unique property. The project location is approximately 20 kilometres northeast of the town of Rouyn-Noranda.

A first phase of prospecting was completed on the property with the collection of 85 samples originating from bedrock outcrops and from glacial boulders. The model of exploration set up by Axe is based on the identification of a fracture system developed inside corridors crosscutting the Clericy pluton. Identified targets correspond at the field level to sectors in depression embedded in the intrusion and limited by steeply dipping fractures.

Showing Unique 1

• Five samples from outcrops returned gold values of 5.28 grams per tonne, 3.11 g/t, 2.31 g/t, 2.74 g/t and 0.65 g/t. The mineralization takes the form of pyrite concentrations aligned along fracture planes.
• The host rock is a hematized syenite affected by chlorite and calcite coated fractures. Parallel mineralized fractures are grouped in a shallow-dipping swarm.
• The mineralized site was manually stripped to give a surface of about one metre at the base of a rocky cliff.

Showing Unique 2

• An isolated angular block of metric size, largely buried returned a value of 0.8 g/t around 1.3 km east of the Unique 1 showing. Mineralization characteristics are comparable with the Unique 1 showing with a stockwork of quartz-calcite veinlets crosscutting a hematized and pyritized syenite.
• It has not yet been possible to find the origin of the block considering the coverage of overburden. A previously unnoticed blasted trench dating several decades was recently identified approximately 25 metres southward from the Unique 2 block.

Gold potential

The worked sector has never been the object of such an exploration effort as shown by the compilation of the statutory works. Axe started to work on Unique with the perspective to open up a new territory. In the best knowledge of Axe, it is the first time that significant gold-bearing values are obtained in this area.

The Unique property is centred on the syenite intrusion corresponding to the Clericy pluton. This type of rock is spatially associated with regional tectonic breaks hosting gold deposits of the Abitibi greenstone belt.

The Clericy pluton stands at a strategic position in the regional faults system with deformation zones and faults connecting this intrusion with the Porcupine-Destor break. The observation of geological indicators showing the proximity of a gold system combined with gold anomalies obtained from bedrock and glacial boulders confirm the gold potential of the property.

Quality assurance/quality control

Samples position are recorded with their serial laboratory number using a Garmin hand-held GPS to create a time stamped file ready for assay results importation. Pictures of every sampling site are taken showing closed sample bags. Samples are prepared according to a standard method by ALS Chemex using a 250-gram split of material pulverized at 85 per cent passing 75 microns. Thirty-gram subsamples are processed by fire assay with a spectrometric finish giving an analytical limit of 0.005 g/t.

Anomalous values over 0.05 g/t are systematically reassayed from the crushed material. From a threshold of 0.1 g/t, a second sample is taken on the field.

About Axe Exploration Inc.

Unique project (Abitibi, Rouyn-Noranda):  100 per cent owned by Axe

Commandant project (Abitibi, Val d'Or):  100 per cent owned by Axe

Gold Peak project (Abitibi, Rouyn-Noranda):  100 per cent owned by Axe

Destorbelle project (Abitibi, Rouyn-Noranda):  50 per cent owned by Typhoon Exploration Inc./50 per cent by Axe

Axe is in excellent financial position and is optimistic to create value in 2017 for shareholders with only 57,357,445 emitted ordinary shares and in circulation.

The technical information which appears in this press release is revised and approved by Martin Demers, geo (OGQ), technical adviser of Axe Exploration and qualified person as defined by National Instrument 43-101.