Jaxon Defines Two Strong Copper Anomalies Based on Newly Completed Soil Geochemistry Samples at Red Springs

Vancouver, British Columbia--(Newsfile Corp. - September 10, 2019) - Jaxon Mining Inc. (TSX.V: JAX) (FSE: OU31) (OTC: JXMNF) ("Jaxon" or the "Company") is pleased to announce the Company has discovered two strong copper anomalies based on the newly completed soil geochemistry samples taken at the Primary Ridge area of the Red Springs Project (Figure 1) by HEG & Associates during Phase One field work completed in August of 2019.

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Figure 1, Cu in Soil at the Primary Ridge Area at the Red Springs Project

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Figure 2, Mo in Soil at the Primary Ridge Area at the Red Springs Project

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Figure 3, Zn Value in Soil at the Primary Ridge Area at the Red Springs Project

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Figure 4, Cu/Zn Ration Centres at the Primary Ridge Area at the Red Springs Project

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The soil geochemistry samples as designed encompass both the Primary Ridge and "Red Springs" porphyry targets, spanning (+/-) 2 km2.

Highlights of Soil Geochemistry Study Completed during Phase 1 of the 2019 Work Program

  • 50 m x 50 m grid, 829 soil samples were taken across the proposed sample stations.
  • Cu, Mo and Zn value in soil analysed using XRF.
  • Cu, Mo and Zn anomaly maps created based on XRF analysis results.
  • Preliminary results show two Cu anomalies, one Mo anomaly and one Zn anomaly; Cu/Zn ratios highlight two centres; one being the high-grade Cu samples on Primary Ridge; another to the east where further Cu mineralization has been found throughout altered porphyritic intrusions. (Figure 1-4)
  • Most importantly, intrusions with disseminated Cu sulfide mineralization have been discovered in these two anomalous areas (Figure 5-6), which indicate these intrusions are the source of the strong Cu anomalies.

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Figure 5, Altered Porphyritic Intrusion with Disseminated Pyrite and Chalcopyrite from Primary Ridge Porphyry Target

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Figure 6, Altered Porphyritic Intrusion with Disseminated Chalcopyrite (cpy) from Primary Ridge Porphyry Target

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Mr. Dylan Hunko, Vice President of HEG & Associates, commented, "Soil geochemistry has outlined two very strong mineralized centres and has provided a great picture for metal zonation at the Red Springs Project. Potential for a high-grade Cu-Mo porphyry system is now supported with strong Cu enrichment of soils displaying values greater than 300 parts per million (ppm) Cu. As the advancement of exploration efforts continue at the Red Springs Project, specifically within the Primary Ridge target area, the value of this under-explored land has really come to light. The combination of nearby infrastructure, incredible mineralization within rock samples at surface, soil geochemistry and geophysics has Red Springs primed for the next major Porphyry discovery in British Columbia."

Soil Sampling and Analytical Procedures

Soil samples were taken on a 50 m by 50 m grid covering an approximate 2 km2 area over the Primary Ridge target. Approximately 500 g to 600 g of soil was sampled at a depth of approximately 25-30 cm from surface. Soil samples were primarily targeting the B horizon when appropriate and sampled into labelled craft paper bags.

Soil samples were analyzed before shipment via pXRF (portable X-Ray fluorescence) for Cu, Mo and Zn.

Approximately 50 packaged samples (10 soils per poly bag) were put into labelled rice bags for transport. Security tags were added to rice bags to further increase QAQC protocol.

All soil samples are dried at low temperature, 500 g is than screened to -80 mesh before Aqua Regia digestion. A 20 g true Aqua Regia digestion with ICPMS finish and Ultra Trace was selected as the analytical method for soil samples.

Qualified Person

Yingting (Tony) Guo, P.Geo., COO for 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 Jaxon Mining Inc.

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.

ON BEHALF OF THE BOARD OF DIRECTORS,
JAXON MINING INC.

"John King Burns"

John King Burns, Chairman

For further information, please contact Investor Relations at 604-558-2630 or 1-888-280-8128 or email info@kayewynn.com. For Corporate enquiries, please call 604-398-5394 or email info@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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