Mr. John Burns reports

JAXON MINING ANNOUNCES SILVER-ANTIMONY JOINT VENTURE WITH LAKE WINN RESOURCES, INC.

Jaxon Mining Inc. has entered into a binding letter of intent (LOI), dated July 22, 2025, with Lake Winn Resources Inc., regarding Jaxon's Blunt Mountain silver-antimony-gold-lead-zinc-copper property. Blunt Mountain is located 45 kilometres north of Smithers, B.C., and covers 7,209 hectares. Results of rock sampling along strike by Jaxon in the summer of 2021 (B.C. Assessment report 39740) are provided in the attached table.

The primary exploration target at Blunt Mountain are intrusive-related polymetallic veins of antimony, silver, gold, lead, zinc and copper identified over a strike length of three kilometres. The prospecting program at Blunt Mountain in 2021 delineated the quartz-sulphide veins controlled by a sheeted fracture/shear zone. Most rock and soil samples were collected along the veins. Both rock and soil samples returned significant silver, gold, antimony, lead, zinc and copper results.

The mineralization is hosted in a Late-Cretaceous-aged, Bulkley suite pluton near its northern edge and partially traverses into the surrounding hornfels, of the Jurassic Bowser formation.

Rock samples taken during the 2021 exploration program were shipped to MSA Laboratory, Langley, B.C., under chain of custody. Rock samples were crushed and pulverized to 85 per cent passing 75 microns, then digested using aqua regia, and assayed using multielement ICP-EM-MS, 20-gram aliquots. Thirty-gram fire assay was used for gold.

Joint venture agreement

The terms of the joint venture agreement are as follows:

1. Lake Winn will pay $50,000 on signing.
2. Lake Winn will complete $1.5-million in exploration and development work within three years of the date of the agreement.
3. Upon completion of the work commitment, the project will be governed as a 51-per-cent/49-per-cent joint venture between Lake Winn and Jaxon, respectively.
4. Lake Winn will be the operator.
5. Should either party be diluted below a 10-per-cent interest, the interest will be converted to a 2-per-cent net smelter return royalty.

The joint venture is subject to due diligence, necessary corporate and regulatory approvals, and completion of definitive documentation.

Hazelton property

Jaxon controls the Hazelton property, which comprises 73 contiguous mineral claims, with a total area of 72,410 hectares. The Hazelton property is divided into seven projects: Blunt Mountain, Red Springs, Max, Netalzul Mountain, Mt. Thoen, Rocher Deboule Mountain and Kispiox Mountain.

Corporate update

Jaxon has recently engaged O'Neill Law LLP to apply for a partial revocation of its failure-to-file cease trade order. If such an order is granted, Jaxon intends to complete financing to allow Jaxon to make all outstanding filings to return Jaxon to good standing with a view to resume trading. Jaxon has also engaged Copper Island Mines Ltd. as an exploration and technical consultant.

Qualified person

Andris Kikauka (PGeo), director of Jaxon Mining, has prepared, reviewed and approved the scientific and technical information in this news release. Mr. Kikauka is a director of Jaxon and therefore a non-independent qualified person within the meaning of National Instrument 43-101.

We seek Safe Harbor.