TerraX appoints Russell Starr and Rene Carrier to Board of Directors; Alan Sexton appointed VP Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2017) - TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0)(OTC PINK:TRXXF) is pleased to announce the appointments of Russell Starr and Rene Carrier as Directors of the Company and of Alan Sexton, P. Geo, as VP Exploration.

Mr. Starr is a successful mining entrepreneur having most recently been a director and senior member of the management team of Cayden Resources, which was acquired by Agnico Eagle Mines in 2014. He has over 16 years of experience with global investment banks and independent boutique investment dealers; working as a salesperson, trader and investment banker. He is currently an SVP at Auryn Resources and holds an MBA from the Richard Ivey School of Business and a Master of Economics from the University of Victoria.

Mr. Starr stated: "The TerraX team has done an excellent job accumulating a district scale land package neighboring the City of Yellowknife which is on trend with the nearby, past producing high grade Con and Giant Gold mines. TerraX represents an excellent opportunity to deliver significant shareholder value over the next 24 months through high grade gold discoveries which I am excited to be a part of."

Mr. Carrier also served as Director of Cayden Resources prior to its acquisition by Agnico Eagle. He has been the President of Euro-American Capital Corporation, a private investment company, since May 1991. He served as Vice-President of Pacific International Securities Inc. where he worked for ten years until 1991. He served as Lead Director of International Royalty Corp. ("IRC") from 2003 to 2010. IRC was a global mineral royalty company engaged in the acquisition and creation of natural resource royalties which was acquired by Royal Gold Inc. in 2010.

Joseph Campbell, Chairman and CEO of TerraX, states, "We are very fortunate to have individuals of Russell and Rene's caliber join the Terrax team as we pursue the continued discovery of a high grade Canadian gold district. They bring a depth of successful experience in the financial, marketing and corporate governance areas of our business which will compliment TerraX and its efforts moving forward."

Additionally, Mr. Alan Sexton, P. Geo has been appointed as VP Exploration. Much of Al Sexton's career has been with major mining companies, specifically Western Mining Corporation (WMC) where he was the Site Manager for the Meliadine gold project in Nunavut (now owned by Agnico Eagle Mines) over a seven year period from discovery through to pre-feasibility. Mr. Sexton has also been the technical expert on mine development Environmental Impact Assessment reviews on several projects in the Kivalliq Region of Nunavut for the Kivalliq Inuit Association. In addition, he has managed several advanced diamond drilling programs on gold projects throughout the Abitibi Greenstone Belt of northeastern Ontario and authored numerous NI 43-101 compliant mineral resource estimates

Mr. Tom Setterfield, one of the original founders of TerraX, has resigned as a director to facilitate the appointment of Mr. Starr and Mr. Carrier to the board. TerraX would like to thank him for the significant role he has played in the development of TerraX and our current success with the Yellowknife City Gold project. We wish him well in his future endeavours.

The board of directors of TerraX now consists of Joseph Campbell, Stuart Rogers, Elif L?(C)vesque, Paul Reynolds, Russell Starr and Rene Carrier.

About the Yellowknife City Gold Project

Yellowknife City Gold ("YCG") encompasses 418 sq km of contiguous land immediately north and south of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high grade drill results that serve to indicate the project's potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors,

Joe Campbell, CEO

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.