TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has completed the previously announced non-brokered private placement of 3,000,000 units at a price of $0.30 per unit.  Due to demand, the placement was increased to 3,631,266 units at $0.30 per unit for gross proceeds of $1,089,380. 

Each unit consists of one common share and one half-warrant, with each full warrant entitling the holder to purchase an additional share at an exercise price of $0.40 per share until June 2, 2012.  The shares and any shares acquired on the exercise of warrants will be subject to a hold period expiring on October 3, 2010.   Finders fee in cash totaling $73,506 were paid with respect to this placement, along with 227,635 finders warrants exercisable at $0.40 until June 2, 2012.

The net proceeds of this private placement will enable the Company to accelerate exploration activity at its three gold exploration properties in northwest Ontario, where drilling is currently underway. 

About TerraX Minerals

On behalf of the Board of Directors

?STUART ROGERS?

Stuart Rogers

Director

Contact: Paradox Public Relations

Phone:  514-341-0408

Toll Free: 1-866-460-0408

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.