Jaxon Plans for Drilling at Hazelton

Vancouver, British Columbia--(Newsfile Corp. - October 11, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) ("Jaxon" or the "Company") is pleased to announce that it is in the final stages of generating a series of drill targets for its early winter 2017 drilling campaign at the Hazelton Project. The Hazelton Project covers more than 44,000 hectares, located in the Skeena Arch of northwestern British Columbia, 50 kilometres north by highway from the town of Smithers.

Extensive review of the preliminary 3D-IP (3-dimensional induced polarization) survey, completed by SJ Geophysics, prompted Jaxon to mobilize Bruce Ballantyne, Jaxon's Project Manager to the Max area of the Hazelton Project to conduct additional ground-truthing at its recently generated IP targets. Jaxon expects the results from this IP target validation to present several high-priority drilling locations, which will be the focus of the Company's upcoming Fall-Winter 2017 Phase 1 drilling campaign.The 3D targets are located coincident with highly-mineralised channel samples as well as highly anomalous soil and stream geochemistry, targeting high-grade silver-zinc-lead VMS-style mineralization.The 2012 airborne VTEM geophysical survey also generated numerous coincident anomalies in the Max target area at Hazelton Project.Jaxon will release the fully-integrated dataset shortly, once approved by the technical advisory board.

The Project Manager is presently engaging contractors to assist with Jaxon's Fall-Winter 2017 1,500- to 2,000-metre Phase 1 drilling campaign. Field teams will be mobilized once the drill target review and planning phase is completed.

Bruce Ballantyne states, "The current abundant availability of support services: drilling, helicopter and camp support, in conjunction with well-established, all-season trails for access, are expected to smoothly facilitate Jaxon's planned upcoming drilling campaign."

Jason Cubitt, Jaxon's President and CEO, added, "We expect this drilling to add considerable value to the project throughout the winter drilling season. Jaxon's team is working steadily to refine a final series of Phase 1 drilling targets, which will promptly be followed up by mobilization of crews to the site. We are very pleased to be financed for a successful campaign, and anticipate an exciting season ahead."

Technical information in this news release has been reviewed and approved by Derrick Strickland, P. Geo, a qualified person as defined in National Instrument 43-101. This property has not been the subject of a National Instrument 43-101 report.

About Jaxon

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

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.

"Jason Cubitt" ______
Jason Cubitt, President.

For further information regarding Jaxon Mining 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.