Mr. Jason Cubitt reports

JAXON DISCOVERS HIGH GRADE SILVER WITH TELLURIDE AT HAZELTON PROJECT

Jaxon Mining Inc. has acquired three mineral claims totalling 129.1 hectares, known as the Skilokis property, located about six kilometres to the west of the high-grade silver-zinc-gold Max target and fully enclosed within Jaxon's 44,482-hectare Hazelton project, located in northwestern British Columbia.

Jaxon conducted due-diligence sampling on the new claims along the 3.6-kilometre length of a northeast-trending brittle shear zone which hosts several known showings. Previous work from 1985 to 1987 reported up to 29.3 grams per tonne gold and 2,983 g/t silver from grab sampling along the trend.

Prospecting sample highlights:

• The northernmost select grab sample collected at 1,390 metres of elevation returned 1,886 g/t silver and 1.35 g/t gold.
• Approximately three kilometres to the southwest, a sample at 1,740 m elevation returned 994 g/t silver, 3.6 g/t gold and 61.4 parts per million tellurium.
• Near the centre of the trend at 1,400 m elevation, a grab sample returned 879 g/t silver and 1.55 g/t gold.

The trend hosts silicified, hornfelsed clastic sedimentary units and intrusive rocks. These lithologies host sulphide-bearing quartz veins and quartz breccia, which contain pyrite, arsenopyrite, galena, sphalerite and possibly stibnite as massive sulphides and disseminations. Jaxon concludes that the well-developed mineralized system changes in character and relative content of sulphide components at different elevations of the structure and along strike.

Sample A0003759, which returned 61.4 ppm Te, represents the highest tellurium value discovered to date at the Hazelton project and is considered a significant aspect of the new acquisition. The showing has been classified as silver-telluride enriched, while 11 kilometres to the south, the newly discovered CRT target, is a gold-telluride-mineralized system (see Jaxon press release Sept. 14, 2017).

Jason Cubitt, Jaxon's president and chief executive officer, stated, "These newly acquired claims, in conjunction with Jaxon's staking throughout 2017, have significantly enhanced the Hazelton project as a district play, as supported by the outstanding results reported from the 2017 Hazelton exploration program."

Technical information in this news release has been reviewed and approved by Derrick Strickland, PGeo, a qualified person as defined in National Instrument 43-101. This property has not been the subject of a National Instrument 43-101 report.

About Jaxon Mining Inc.

Jaxon Mining 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 More Creek project (comprising the Wishbone and Foremore properties) in B.C.'s Golden Triangle.

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