Mr. Jason Cubitt reports

JAXON PLANS FOR DRILLING AT HAZELTON

Jaxon Mining Inc. is in the final stages of generating a series of drill targets for its early winter 2017 drilling campaign at the Hazelton project. The Hazelton project covers more than 44,000 hectares, located in the Skeena Arch of northwestern British Columbia, 50 kilometres north by highway from the town of Smithers.

Extensive review of the preliminary 3-D induced polarization (IP) survey, completed by SJ Geophysics, prompted Jaxon to mobilize Bruce Ballantyne, Jaxon's project manager, to the Max area of the Hazelton project to conduct additional ground truthing at its recently generated IP targets. Jaxon expects the results from this IP target validation to present several high-priority drilling locations, which will be the focus of the company's coming fall/winter 2017 phase 1 drilling campaign. The 3-D targets are located coincident with highly mineralized channel samples as well as highly anomalous soil and stream geochemistry, targeting high-grade silver-zinc-lead VMS-style (volcanogenic massive sulphide) mineralization. The 2012 airborne VTEM (versatile time-domain electromagnetic) geophysical survey also generated numerous coincident anomalies in the Max target area at Hazelton project. Jaxon will release the fully integrated data set shortly, once approved by the technical advisory board.

The project manager is presently engaging contractors to assist with Jaxon's fall/winter 2017 1,500-to-2,000-metre phase 1 drilling campaign. Field teams will be mobilized once the drill target review and planning phase is completed.

Mr. Ballantyne stated, "The current abundant availability of support services -- drilling, helicopter and camp support, in conjunction with well-established, all-season trails for access -- are expected to smoothly facilitate Jaxon's planned upcoming drilling campaign."

Jason Cubitt, Jaxon's president and chief executive officer, added: "We expect this drilling to add considerable value to the project throughout the winter drilling season. Jaxon's team is working steadily to refine a final series of phase 1 drilling targets, which will promptly be followed up by mobilization of crews to the site. We are very pleased to be financed for a successful campaign and anticipate an exciting season ahead."

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 an NI 43-101 report.

About Jaxon Mining Inc.

Jaxon is a base metal 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 More Creek project (consolidating the Wishbone and Foremore properties) in British Columbia's Golden Triangle.

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