Vancouver, British Columbia--(Newsfile Corp. - February 20, 2018) - Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC: JXMNF) is pleased to announce high grade gold and tellurium assays from a second phase of expanded sampling at its Cirque-Ridge-Tarn (CRT) target within its extensive Hazelton Project in Central British Columbia. The CRT target is located approximately 17km SW from Jaxon's MAX silver-zinc target.

Highlights include:

• Highly gold-enriched breccia complexes returned assay values up to 33 g/t Au.
• Single breccia outcrops occur over widths up to 5 metres and intermittent strike length up to 3 kilometres.
• Discovery area of multiple high-grade gold breccia zone complexes expanded to at least 1.5 kilometres by 3 kilometres.
• Further evidence that the CRT and RS (Red Spring) targets are genetically related to a large intrusive/porphyry system.

Jason Cubitt, Jaxon's president and CEO commented: "This is showing all the signs of a large precious and base metals-rich porphyry system and may be a primary engine driving mineralization in the entire district. I congratulate our technical teams for the excellent work they've done identifying it." Mr. Cubitt continued: "Based on this discovery, Jaxon now has two primary discoveries within the Hazelton district, the now-confirmed Max VMS system and the CRT/RS system hosting high grade precious and base metal mineralization."

The initial discovery of extensive breccia bodies which returned high grade gold and tellurium assays from the Cirque-Ridge-Tarn (CRT) was reported in Jaxon's press release of September 14, 2017.

During the fall exploration season Jaxon expanded the surface prospecting coverage of the brown and bright red gossanous areas of the CRT and RS prospects with a further 49 rock samples collected from the CRT. This work not only returned high grade gold assays but also expanded the extent of the tourmaline breccia occurrences to three separate cirques approximately 500m apart.