Jaxon Announces Re-assay Of High Grade Silver And Additional Property Acquisition
Jaxon Minerals is pleased to announce that it has received results from the re-assay of sample 16-02, one of four surface samples taken on its due diligence site visit to the recently optioned Price Creek property (see news release dated November 2nd, 2016). As previously reported, the silver content in the sample material exceeded the upper limit of the assay method used. The re-assay of sample 16-02 reported a silver grade of 1942 ppm or 68.5 ounces per tonne. Complete assay results of the four samples are provided in the table below.
| Sample No. | Location (Showing) | Au PPB (g/t) | Ag | Pb % | Zn % |
| 16-01 | Knoll View | 6,259 (6.26) | 39 (1.25) | 4.99 | 4.45 |
| 16-02 | Creek | 4,732 (4.73) | 1,942 (68.5) | 19.59 | 5.7 |
| 16-03 | Ted | 488 (0.49) | 213 (6.85) | 12.21 | 6.46 |
| 16-04 | Main | 659 (0.66) | 65 (2.1) | 1.07 | 21.29 |
The Company is also pleased to announce that it has entered into a letter agreement to expand the terms of the previously announced letter agreement (see news release dated November 23, 2016) to include an additional 15 claims along mineralized trends bordering the southwest border of Jaxon’s Price Creek property. Payment terms to the vendor remain unchanged, subject to a 1% net-smelter-return royalty on all ground contained within the agreement.
This news release has been reviewed by Glen Macdonald, PGeo (a qualified person for the purpose of National Instrument 43-101, standards and disclosure for mineral projects).
About Jaxon
Jaxon is a base and precious metals exploration company with a regional focus on Western Canada. The company is currently advancing its optioned Price Creek property in north-central British Columbia. The property has seen considerable historic exploration work and presents a volcanogenic massive sulphidestyle target with reported potential Eskay Creek/Equity silver- style mineralization.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.
“Jason Cubitt”
Jason Cubitt, President.
For further information regarding Jaxon Minerals Inc., please contact Jason Cubitt at 604-608-0400, Toll free:
1-877-608-0007.
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.