Jaxon Retains HEG Exploration for 2019 Season Field Work at Red Springs

Vancouver, British Columbia--(Newsfile Corp. - May 7, 2019) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) ("Jaxon" or the "Company") is pleased to announce the Company has retained HEG & Associates Exploration Inc. to conduct field work that will start the 2019 exploration season at Red Springs.

Under the supervision of Dr. Tony Guo, the Company's COO and Chief Geologist, HEG will conduct a focused exploration work program targeted on the porphyry system at the Primary Ridge area at Red Springs (Figure 1), which encompasses the Primary Ridge porphyry target, the "Red Springs" porphyry target and the east section of the Razorback porphyry target. The proposed work program will commence once snow melt allows. HEG's work will include 1:2000 geology, structure and alteration mapping, 50x50 metre grid soil geochemistry sampling and study, rock geochemistry and dating study and comprehensive desktop study on the project area after the field work is complete. HEG's work will also involve future drill site targeting.

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In addition to the Company's Hazelton property where Red Springs is located, HEG previously worked on the delineation of many recent discoveries in northwestern British Columbia. Projects include KSP, Newmont Lake, North ROK and Castle. For more information, please visit https://hegexplore.ca/projects.

Cole Evans, President and CEO of HEG & Associates Exploration Services Inc., commented, "Our business model is very simple; we strive to be the best at what we do, set the bar for unparalleled service, and let our quality workmanship and integrity speak for itself. That has been the recipe to HEG's success, and we look forward to bringing that attitude to Jaxon's Red Springs project. From a geological perspective, Jaxon is sitting on a vastly underexplored land package, which from our initial research is ripe for new discoveries. Our whole team is very excited to get involved in unlocking its potential."

John King Burns, President and CEO of Jaxon, commented, "HEG has demonstrated to be one of the most successful exploration teams working in northwest British Columbia, actively representing and exploring >300,000 hectares of ground throughout the region. The work and experience of their technical team encompasses a network of well-respected industry professionals whose work has led to major advances in economic geology within the region, and most importantly, major discoveries that are poised to become the next generation of operating mines in this mining district."

Qualified Person

Yingting (Tony) Guo, P.Geo., COO of Jaxon Mining Inc., a Qualified Person as defined by National Instrument 43-101, has reviewed and prepared the scientific and technical information and verified the data supporting such scientific and technical information contained in this news release.

About HEG & Associates Exploration

HEG provides a full spectrum of mineral exploration services from property reconnaissance to turn-key advanced exploration/resource delineation. Their highly trained, diligently prepared, and safety oriented geological team is regarded in western Canada for executing exploration programs at various scales with military-like precision.

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 British Columbia.

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.

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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