Mr. Jason Cubitt reports

JAXON TARGETS HIGH GRADE MINERALIZATION EXTENT AT VMS PROJECT IN BRITISH COLUMBIA'S SKEENA ARCH

Jaxon Minerals Inc.'s field crews have commenced the first phase of the 2017 field season at the Hazelton property in the Skeena Arch, central British Columbia, Canada.

The company's goal in this first phase is to establish the continuity and extent of previously identified high-grade, stratified massive sulphide beds, which have been historically mapped over an area of roughly one square kilometre.

Historical sampling at the Max zone covers an area of roughly one square kilometre, and hosts multiple, high-grade, base-and-precious-metal-bearing exposures along a 1,200-metre-long corridor.

   HISTORICAL SAMPLING 
  HIGHLIGHTS -- MAX ZONE

Sample                Silver
ID                     (g/t)

GRM20                  2,171
1050812                3,398
1050818                1,231
GRM15                    938

Jaxon has compiled a comprehensive model of mineralization at surface at the Max zone, which will augment the final interpretation of a 464-line-kilometre VTEM (versatile time domain electromagnetic) magnetics and resistivity survey due mid-June. This survey is expected to be later followed by a ground-based gradient induced polarization (IP) survey to test depth of mineralization and enhance drill hole targeting.

Current sampling program

The strata-bound VMS (volcanogenic massive sulphide) mineralization at the Max zone has never been comprehensively sampled, and true extent of high-grade mineralization has, to date, remained unknown. The historical trenches at the Max zone were excavated on a steeply sloping hillside, exposing massive sulphides and associated alteration within a volcanosedimentary package, over a lateral extent of 700 metres and a vertical extent of 200 metres.

The current sampling program aims to supplement the historical sampling to further expand the known strike length and thickness of the massive sulphide unit.

Historical sampling at the Max zone

The initial focus is to establish whether structural continuity exists over 200 metres of vertical elevation.

Mineralization at the Max zone occurs over a lateral extent of approximately 1,020 metres and largely consists of strata-bound massive sulphide mineralization. At 1,000 m elevation, the Spine showing is the highest elevation outcrop on the property. The Spine showing also returned one of the highest gold assays, at 12.7 grams per tonne gold.

Approximately 450 metres downslope from the Spine (representing 260 m vertical) at trench 742, massive sulphides containing high-grade silver sulphosalts assayed 2,015 g/t silver which, when reassayed, graded 2,171 g/t Ag.

Approximately 100 metres farther downslope (representing 45 m vertical) at trench 742, another high-grade semi-massive sulphide sample yielded 1,231 g/t Ag, 5.8 per cent lead and 9.55 per cent zinc.

Continuing a farther 120 metres downslope (10 m vertical), another massive sulphide bed returned values of 3,398 g/t Ag, 2.26 g/t Au, 11.87 per cent Zn and 15.11 per cent Pb in trench 685.

Finally, 350 metres downslope (135 metres vertical) at the 550 elevation, assays of up to 4.16 g/t Au, 938.5 g/t Ag, 3.83 per cent Pb and 4.3 per cent Zn were returned from grab samples. This location is believed to represent a feeder conduit for volcanic massive sulphide mineralization. The one-to-1.5-metre sulphide zone comprises two parts: a 0.5-to-0.75-metre-thick hangingwall section comprising massive sulphides and an underlying 0.75-metre-thick leached package. The upper massive sulphide zone comprises up to 20 per cent pyrite, with variable quantities of sphalerite, galena, arsenopyrite, stibnite and possibly jamesonite.

Jaxon has compiled historical results with exceptional grades over 1,220 metres of recurrent surface exposure at the Max zone, representing more than 450 metres of elevation change. The current field program will add substantial new information to these data, as Jaxon continues to explore its Hazelton project.

The above data are historical in nature and have not been verified by Jaxon. The results above are from select grab samples, generally hand size, that were prepared at an accredited facility (crush, grind and split of assaying pulps). The pulps were digested by aqua regia and then ICP-MS (inductively coupled plasma mass spectrometry) multielement geochemical analysis determined gold values, with overlimit values obtained by lead collection fire assay fusion. Gravimetric finish on 30-gram pulps determined silver content. Aqua regia digestion followed by ICP-ES analysis determined the percentage concentration of lead and zinc.

Historic sampling details can be found in British Columbia assessment report No. 33559, No. 30787 and a National Instrument 43-101 report titled "The geology and mineralization at the Max-Knoll Zn-Pb-Ag-Au property, Harold Price Creek, north-central British Columbia," for Finore Mining Inc. (formerly Otterburn Ventures Inc.) a previous property owner.

Technical information in this news release has been complied and reviewed by Derrick Strickland, PGeo, a qualified person as defined in National Instrument 43-101.

About Jaxon Minerals Inc.

Jaxon is a base and precious metals exploration company with a regional focus on Western Canada. The company is currently advancing its optioned Price Creek property in north-central British Columbia. The property has seen considerable historic exploration work and presents a volcanogenic massive sulphide-style target with reported potential Eskay Creek/Equity silver-style mineralization.

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