Jaxon Mining Announces AGM Results and Renewal of 2019/2020 Option for the Wishbone Property

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2019) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) ("Jaxon" or the "Company") is pleased to announce the results from its 2019 Annual General Meeting (the "Meeting") held on Friday, March 8, 2019.

A total of 11,280,662 common shares, representing 12.25% of the issued and outstanding common shares of the Company, were represented at the Meeting. The following resolutions were approved:

  1. The number of directors of the Company was set at four (4).
  1. John King Burns, Yingting (Tony) Guo, James Lavigne and Laurence Stephenson were elected directors of the Company to hold office until the next annual general meeting of the Company.
  1. DMCL LLP Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year and the directors were authorized to fix the auditors' remuneration.
  1. By ordinary resolution, the Company's Stock Option Plan, as described in the Company's Information Circular dated February 1, 2019, and as available on SEDAR at www.sedar.com, was approved.
  1. By ordinary resolution, the Company's Advance Notice Policy, as described in the Company's Information Circular dated February 1, 2019, and as available on SEDAR at www.sedar.com, was approved.

Wishbone Property at More Creek Project

The Company renewed its option on the Wishbone property at its More Creek Project for the 2019/2020 year. The Company paid $25,000 and issued 125,000 common shares in connection with the renewal on March 14, 2019.

About Jaxon Mining

Jaxon is a precious and base metals exploration company with a regional focus on Western Canada. The Company is currently focused on advancing its Red Springs Project in north-central British Columbia and the More Creek Project (consolidating the Wishbone and Foremore properties) in British Columbia's Golden Triangle.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.

"John King Burns"

John King Burns
Chairman, President and CEO

For Capital Markets, call 778-938-4459, for Investor Relations 604-558-2630 or 1-888-280-8128 and for Corporate enquiries 604-398-5394. Visit us at www.jaxonmining.com.

This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations 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.

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