Vancouver, British Columbia--(Newsfile Corp. - August 31, 2016) - Jaxon Minerals Inc. (TSXV: JAX) has cancelled 205,000 existing stock options and is granting a total of 1,840,000 new stock options to directors, officers and consultants.

The options granted are for a period of two (2) years, expiring on August 31, 2018 at a price of 7 cents.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.

"Leif Smither"
Leif Smither, President.

For further information regarding Jaxon Minerals Inc., please contact Leif Smither at 604-608-0400, Toll free: 1-877-608-0007.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.