Vancouver, British Columbia--(Newsfile Corp. - May 4, 2017) - Jaxon Minerals Inc. (TSXV: JAX) (FSE: 0U3) ("Jaxon" or the "Company") is pleased to provide the following update on corporate activities.

The Hazelton Property

Jaxon continues to further its understanding of the company's 100% owned and optioned precious metals-rich volcanogenic massive sulphide (VMS) project, located 50 kilometres north of Smithers BC, in the Skeena Arch.

A systematic review of regional data, including geological mapping, stream sediment surveys and historic work from prior operators confirms Jaxon's interpretation that the property is hosted by Skeena Group rock formations. Jaxon's newly recognized region is prospective for the famous Equity Silver Mine and the epithermal VMS Eskay Creek-style shallow marine volcanic styles of high grade base metals and bonanza grades of silver and gold.

On the basis of this reinterpretation by Jaxon, the company is pleased to announce that is has acquired, through staking, an additional 100% owned 24,000 hectares of ground contiguous to its previously held ground at the Max and Knoll mineral occurrences. Jaxon's property, now referred to as the Hazelton Property, now covers over 28,000 hectares.

Upcoming Field Program

The company has filed a Notice of Work application with the BC Ministry of Mines for a Spring / Summer 2017 work program including allowance for mechanical trenching, induced polarization surveys, and exploration drilling. Data from the previously flown 464 line km airborne VTEM and MAG helicopter survey is being modeled and evaluated by expert geophysical contractors. Anomalous geochemical survey and geophysical targets will be followed up during the program. Jaxon's experienced field crews are expected to be mobilized to its base in Hazelton by the end of May to begin rehabilitation of roads, trails, and the numerous historic sulphide mineralized exposures. More detail will be provided on upcoming work as budget and logistics are further defined.

This news release has been reviewed by Glen Macdonald, PGeo (a qualified person for the purpose of National Instrument 43-101, standards and disclosure for mineral projects).

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.

"Jason Cubitt" ______
Jason Cubitt, President.

For further information regarding Jaxon Minerals Inc., please contact Jason Cubitt 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.