Mr. Karim Rayani of R7 reports

JAXON MINING CONCERNED SHAREHOLDER

Karim Rayani of R7 Capital Ventures Ltd., in his capacity as a holder of approximately 5 per cent of the issued and outstanding common shares of Jaxon Mining Inc., on Sept. 6, delivered by registered mail a notice to Jaxon's chief executive officer, John King Burn, to nominate four independent directors to Jaxon's board of directors in accordance with Jaxon's advance notice policy.

Jaxon Mining board of directors as of the dissemination of this news release has not formally replied to the notice or advised on Jaxon's position regarding the concerned shareholder nominees. While no meeting materials have been issued and no proxy is being solicited at this time, the concerned shareholder felt it was necessary to address these matters to the market and with fellow Jaxon shareholders. As one of the largest shareholders, the concerned shareholder has serious concerns regarding Jaxon's underperformance and governance.

The concerned shareholder believes a refreshed board of directors comprising the concerned shareholder nominees, who have the appropriate experience and skill set, will not only enhance the governance of Jaxon but will also be in the best position to, among other things:

• Evaluate, update and provide oversight on management's execution of Jaxon's business strategy;
• Review Jaxon's financial position and provide oversight on cash flow management;
• Restore shareholder confidence in Jaxon and improve communications with shareholders and other stakeholders, including timely, fulsome disclosure to markets regarding Jaxon in accordance with securities law requirements.

Cordially,

Karim Rayani

Chairman and chief executive officer of R7 Capital Ventures Ltd.