Mr. John King Burns reports

JAXON MINING INC. ANNOUNCES APPLICATION FOR PARTIAL REVOCATION OF CEASE TRADE ORDER

Jaxon Mining Inc. has filed an application with the British Columbia Securities Commission and the Alberta Securities Commission for partial revocation of a failure-to-file cease trade order (the FFCTO).

The company applied for a partial revocation order in order to permit the company to be able to complete a private placement financing in British Columbia and Alberta of up to 25 million units of the company at a price of one cent per unit for gross proceeds of up to $250,000. Each unit consists of one common share and one share purchase warrant exercisable at a price of five cents per common share for a period of two years from the date of issuance. For each distribution made pursuant to the financing, the company will comply with one or more of, the accredited investor exemption contained in Section 2.3 of National Instrument 45-106, and the family, friends and business associates exemption contained in Section 2.5 of NI 45-106, and the financing will be completed in accordance with all applicable laws.

The company will use the proceeds of the financing to resolve outstanding fees, prepare audited financial statements for the financial years ended Jan. 31, 2025, and 2024, and pay all other costs associated with applying for a full revocation of the FFCTO. The company intends to allocate the proceeds from the financing as shown in the attached table.

The company currently has 168,003,652 issued and outstanding common shares. Upon completion of the financing, the company will have 193,003,652 issued and outstanding shares.

We seek Safe Harbor.