VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 14, 2017) - TerraX Minerals Inc. (TSX VENTURE:TXR)(TX0.F)(OTC PINK:TRXXF) is pleased to announce the final assay results from the 2017 winter drill program at the Yellowknife City Gold Project ("YCG") in the Northwest Territories. Included in the assays reported today are 9 holes (3,713 m) at Sam Otto, located at the Northbelt property, that have more than doubled the strike length, intersected multiple zones of mineralization parallel to the main system, and extended the depth of gold mineralization to greater than 300 metres. Highlights include:

• 123.50 m @ 0.59 g/t Au including 25.07 m @ 1.38 g/t Au in hole TSO17-026
• 143.00 m @ 0.48 g/t Au including 34.50 m @ 1.10 g/t Au in hole TSO17-028
• 97.17 m @ 0.45 g/t Au including 24.00 m @ 1.15 g/t Au in hole TSO17-031
• 77.50 m @ 0.51 g/t Au including 23.75 m @ 1.02 g/t Au in hole TSO17-023

The drilling at Sam Otto also intersected multiple narrower horizons parallel to the main Sam Otto structure with significant zones of gold mineralization, particularly in the hanging wall of the Main Zone. These include:

• 5.50 m @ 1.29 g/t Au in hole TSO17-021
• 5.80 m @ 0.98 g/t Au in hole TSO17-023
• 8.00 m @ 1.07 g/t Au in hole TSO17-024
• 6.55 m @ 2.31 g/t Au in hole TSO17-025
• 5.05 m @ 1.51 g/t Au in hole TSO17-028
• 2.00 m @ 2.91 g/t Au in hole TSO17-031

Sam Otto is considered a bulk tonnage, low grade target with very uniform grade distribution across the zone, however some intersections encountered higher grade zones including:

• 7.17 m @ 3.24 g/t Au in hole TSO17-031
• 1.80 m @ 5.07 g/t Au in hole TSO17-027a

Joseph Campbell, CEO of TerraX, stated, "The consistency of wide gold intersections at Sam Otto along the north-south strike of 750 metres and to a depth of 300 metres confirms the existence of a bulk tonnage target with considerable upside potential. Open in all directions, Sam Otto also hosts the Dave's Pond structure of classic high grade lode gold targets 300 metres to the west and high grade zones at Mispickel, 1 km to the northeast. We believe Sam Otto has potential to host a large, high grade deposit similar to the past producing Con mine to the south. This area is a priority target for generating future mineral resources."

The Sam Otto zone includes the Dave's Pond structure, where 2 holes totaling 804 metres intersected 24.52 m @ 1.60 g/t Au including 6.05 m @ 3.52 g/t Au in the higher grade core in hole TSO17-029 and 2.50 m @ 1.47 g/t Au in hole TSO17-030. These are infill holes between TSO16-005 (2.40 m @ 9.89 g/t Au reported Jan11, 2017) and TSO17-019 (1.90 m @ 13.96 g/t Au reported May 2, 2017) and confirm the excellent continuity of the Dave's Pond Structure over 400 metres of strike and 150 metres of depth, with the mineralized zone remaining open in both directions.

All holes were drilled approximately normal to projected strike and dip of the zones of mineralization and are interpreted to be 75-95% of true thickness. A drill map showing the location of the drill holes reported above from the Sam Otto area, along with a cross section and long section, are available by clicking here.

Assay results were also received from our Banting Lake target (3 holes totaling 698 metres) on the Northbelt property. Results from the three drill holes were all sub gram. A single hole drilled on a due east azimuth east of the Jackson Lake formation encountered a mixed geology of felsic intrusives, felsic to intermediate volcanics and sediments, but did not intersect mineralized structures.

Initial drilling at our Southbelt property was comprised of 6 holes totaling 1,535 metres. Five holes tested the southern extension of the Con structure from the Con Mine over approximately 850 metres of strike. All holes intersected the Con structure and assays were 0.49 g/t Au to 1.03 g/t Au over 2.30 - 5.30 metre intersections. TerraX is encouraged by the demonstrated continuity of the Con shear and we will conduct further surface exploration this summer to better define potential higher grade zones along this 5 km long structure. Terrax was only able to drill a single hole on the New Vein structure at Southbelt due to an early spring breakup making drilling conditions unsafe. More drilling will be done on this structure in the summer. The single hole intersected the New Vein structure and assayed 0.65 g/t Au over 2.47 metres. Detailed surface exploration will be carried out along this >1.5 km structure to define controls on higher grade areas observed in initial surface work (up to 95 g/t Au in grabs).

For the 21 holes reported today TerraX collected 4,629 samples for assay. Results ranged from below detection to 9.55 g/t Au. Drill hole collar locations were surveyed to sub-metre accuracy. Down hole surveying (Reflex Gyro) was completed on all holes. TerraX inserts certified standards and blanks into the sample stream as a check on laboratory QC. Drill core samples are cut by diamond saw at TerraX's core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by TerraX personnel in securely sealed bags to ALS Chemex's (ALS) preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS's Vancouver facility for gold and ICP analysis. Gold assays of >3 g/t are re-assayed on a 30 g split by fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.