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Jaxon Minerals Inc (2)
Symbol JAX
Shares Issued 39,430,339
Close 2017-06-23 C$ 0.295
Market Cap C$ 11,631,950
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Jaxon appoints Burns chairman, lead director

2017-06-23 21:00 ET - News Release

Mr. Jason Cubitt reports

JAXON ANNOUNCES CHAIRMAN AND LEAD DIRECTOR; CREATES TECHNICAL ADVISORY BOARD

Jaxon Minerals Inc. has appointed John King Burns as chairman and lead director. Mr. Burns's knowledge in corporate governance, geological strategies and all aspects of mining finance will contribute strongly to the continued development of Jaxon. Mr. Burns is former chairman and founder of Northern Orion, which was subsequently acquired by Yamana Gold in a $1-billion transaction. He also served as global head and managing director of the derivative trading and structured finance group at Barclays Metals London, a unit of Barclays Bank PLC, from 1991 to 1997, which provided over $3-billion to the mining industry during his tenure. It was Mr. Burns and his Barclays team that first proposed the combination of Minas Luismin SA with Wheaton River Minerals, which later became Goldcorp.

Mr. Burns currently serves as independent director of China Gold International Resource Corp. ($800-million market capitalization) and to Simba Essel Energy and was an adviser to Western Potash in the $32-million investment by a subsidiary of China National Overseas Oil Corp. (CNOOC). Mr. Burns's prior accomplishments working within the mining industry include being former chairman and lead director of Athabasca Potash (before it was sold to BHP for $341-million), as well as former chairman of Dolly Varden Silver, which, like Jaxon, is focused on the Golden Triangle in British Columbia.

Jason Cubitt, president of Jaxon Minerals, stated: "We are deeply pleased to have the counsel of John King Burns as Jaxon builds into a significant exploration company. Not only will his experience in mining finance be invaluable, as chairman, he will ensure that the board governs and advises the company appropriately. John's merger and acquisition experience will open significant opportunities with institutional investors, developing strategies as we develop Jaxon's assets."

John King Burns, as chairman of Jaxon Minerals, noted: "As a junior minerals exploration and development company, Jaxon has assembled both a strong team and enviable land positions within British Columbia. These projects are located on some of the most prospective orogenic, mineral-rich areas in the world, and the company has the opportunity to advance a number of significant discoveries in 2017 and 2018. First results from the field program under way are expected shortly, and we are truly excited, based on reports from the field."

Jaxon technical advisory board

The company would also like to announce that three senior geotechnical experts have agreed to serve on Jaxon's technical advisory board: Alastair Waddell, Dennis Moore and Carl Swensson.

Mr. Cubitt, president of Jaxon Minerals, noted: "These professionals are a testament to the quality of Jaxon's projects and to Bruce Ballantyne's skill and experience in acquiring and exploring these exciting targets. Together with John King Burns, we now have an exceptional team to take Jaxon to the next level."

Mr. Waddell

He is a geologist with over 20 years of diverse resource industry experience, including senior roles with both junior and senior mining companies providing a broad vision of many aspects of the business. He was a founder and former president and chief executive officer of TSX Venture Exchange-listed GoldQuest Mining Corp., principally focused on exploration in the Dominican Republic. More recently, he was vice-president, greenfields exploration, for Kinross Gold Corp., responsible for global greenfields exploration. He has lived and worked as an expatriate in Australia, Bolivia, Venezuela, Peru, Ecuador, Chile and the Dominican Republic.

Mr. Swensson

He is a mineral exploration geologist with extensive experience in mineral exploration and resource assessment, having more than 20 years in a leadership capacity. He has managed numerous exploration projects over five continents in most commodities and deposit styles for gold, base metals, lithium, uranium, diamonds, coal and graphite. He has a proven record for company management from juniors to multinationals, including chief geologist, exploration, for Normandy Mining from 1989 to 2002 (from a less than $100-million to $4.9-billion market cap).

Mr. Moore

He is a mineral exploration geologist and entrepreneur with over 35 years experience in Australasia and South America. He identified the Tocantinzinho deposit, acquired it, vended it to Brazauro Resources and drilled out a 2.2-million-ounce deposit, leading to Brazauro being bought out by Eldorado for $122-million. He co-founded Magellan Minerals in 2005 and took it public through an initial public offering in 2008. He put together a 120,000-hectare property package in northern Brazil, including Cuiu Cuiu, his second discovery, which currently stands at 1.5 million ounces gold. Magellan Minerals was acquired by Anfield Nickel in 2016. Currently, he is president and chief executive officer of Fremont Gold, a new Nevada-based, TSX Venture Exchange-listed company, and a director of Cabral Gold, a private Canadian company with mineral properties in Brazil.

About Jaxon Minerals Inc.

Jaxon is a base and precious 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 Wishbone/Foremore property in British Columbia's Golden Triangle.

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