Mr. Jason Cubitt reports

JAXON ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT

Jaxon Minerals Inc. has arranged a non-brokered private placement of up to 1.5 million units at a price of 30 cents per unit for gross proceeds of up to $450,000. Each unit will comprise one common share and one-half common share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at 35 cents per share with an expiry date of two years from the closing of the private placement. A finder's fee commensurate with TSX Venture Exchange policies will be paid where applicable.

The funds raised will be used to continue field exploration of the company's Hazelton project (formerly Price Creek) and continue data compilation in anticipation of fieldwork on the company's Wishbone/Foremore project and for general working capital purposes.

About Jaxon Minerals Inc.

Jaxon Minerals is a base and precious metals 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 B.C.'s Golden Triangle.

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