Jaxon Targets Antimony & Copper Rich Porphyry Systems at Blunt & Kispiox Mountains; Advances Modeling to Support Future Drill Tests of Copper Rich, Polymetallic Porphyry Systems at Netalzul Mountain & Red Springs

Jaxon Targets Antimony & Copper Rich Porphyry Systems at Blunt & Kispiox Mountains; Advances Modeling to Support Future Drill Tests of Copper Rich, Polymetallic Porphyry Systems at Netalzul Mountain & Red Springs


Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC Pink: JXMNF) ("Jaxon" or the "Company") is pleased to announce that the 2021 soil sampling program conducted at the Hazelton Property has been extended to include an additional 509 samples sent for assaying. The additional soil samples comprise 409 samples from Netalzul Mountain (Figure 1), 89 samples from Blunt Mountain (Figure 2) and 11 samples from Kispiox Mountain (Figure 3).

The 509 soil samples were tested in 2022 using an XRF analyzer and have now been sent to Bureau Veritas in Vancouver to be analyzed by aqua regia digest with ICP-MS finish for 53 elements including all major porphyry system associated elements. The new assay results together with the results from the 1,000 soil samples previously assayed will be used to generate an updated 3D model targeting the porphyry system at Netalzul Mountain. This modeling will also shed light on the nature of the epithermal-porphyry antimony targets at both Blunt Mountain and Kispiox Mountain.

The new geochemical data set along with the additional newly inverted and processed geophysical data sets will be sent to Fathom Geophysics. Fathom will update its existing 3D comparative model comparing the Netalzul Mountain porphyry target to the other porphyries in Fathom's database. Fathom's original model of Netalzul Mountain was first generated in May 2021.
(https://jaxonmining.com/news/2021/jaxon-commences-2021-field-season-and-receives-report-vectoring-in-on-multiple-porphyries-at-netalzul-mt-and-red-springs/)

Highlights from the 2022 XRF Analysis of 509 Soil Samples from the Hazelton Property

  • 409 soil samples collected from Netalzul Mountain were tested with a handheld XRF analyzer. A large, strong Zn anomaly (up to 3681 ppm, 11.7% of soil samples >1000 ppm) was identified in the strongly faulted hornfels area to the northern boundary of the Netalzul granodiorite intrusion (Figures 1, 4). This anomaly overlaps with the porphyry modeling Rocks 1 target previously defined by Fathom Geophysics in early 2021 (https://jaxonmining.com/news/2021/jaxon-commences-2021-field-season-and-receives-report-vectoring-in-on-multiple-porphyries-at-netalzul-mt-and-red-springs/) and coincides with a discrete demagnetized zone, comparable to the Blackwater deposit in the same geological setting 250 km southeast of the Netalzul Mountain project.
  • 99 soil samples collected along the strike of the mineralization zone were tested with a handheld XRF analyzer. Elements Ag, Cu, Pb, Zn, Sb and As show the same pattern of strong chemistry in soil anomalies confirming the existence and continuation of this Ag-Sb rich polymetallic epithermal mineralization along strike, with Ag in soil up to 496 ppm and Sb in soil up to 15,745 ppm (Figure 2).
  • 11 soil samples collected from between the KS zone 1 and KS zone 2 area and tested with a handheld XRF analyzer in the field, confirmed a high Sb in soil anomaly, with the highest Sb in soil up to 736 ppm (Figure 3).

John King Burns, CEO of Jaxon Mining, commented, "The size and grade of the antimony anomaly discovered at Kispiox Mountain in 2021 defines potentially the largest antimony discovery in North America today. Antimony is a strategic mineral, and the Western world is critically short of antimony resources. A 2023 summer field program is being planned for Kispiox Mountain and Blunt Mountain which will include backpack drilling and further mapping to extend the high-grade antimony zones discovered there."

"Netalzul Mountain exhibits some of the largest and highest-grade copper and molybdenum geochemical anomalies observed in BC to date. Netalzul Mountain is Jaxon's priority porphyry target, the first of seven targets on the Hazelton Property, as ranked in 2021 by Fathom Geophysics' Comparative Porphyry Model. During the winter of 2022/23, our team has been working to reprocess all existing geochemical and geophysical data sets, as well as assay results, integrating the additional data collected in 2021/22 and regenerating all of our geological models to show the geometry of and to generate more precise locational coordinates of the center and shells around the Netalzul Mountain porphyry system."

"All of this information will be reviewed by our team of geochemical, geophysical, structural, and directional drilling advisors as part of our expanded 2023 comprehensive porphyry target vectoring, drilling design and programming exercises. Later in the spring and summer of 2023, we expect to publish an updated 3D geological model with more precise projections of the location of the Netalzul Mountain porphyry system."

Figure 1. 2021 soil and rock samples at Netalzul Mountain

Figure 1. 2021 soil and rock samples at Netalzul Mountain

Figure 2. Soil samples and SB in soil anomaly identified by XRF analyzer at Blunt Mountain

Figure 2. Soil samples and SB in soil anomaly identified by XRF analyzer at Blunt Mountain

Figure 3. Soil samples and Sb in soil anomaly identified by XRF analyzer at Kispiox Mountain

Figure 3. Soil samples and Sb in soil anomaly identified by XRF analyzer at Kispiox Mountain

Figure 4. Large, strong Zn anomaly (>1,000ppm) identified in the hornfels at Netalzul Mountain

Figure 4. Large, strong Zn anomaly (>1,000ppm) identified in the hornfels at Netalzul Mountain

Soil Sampling and Analytical Procedures

All samples described in the news release were collected by the Company's qualified professional geologists. Soil samples were taken on a 50 m by 50 m grid or along the mineralization zone. Approximately 200 g to 300 g of soil was sampled at a depth of approximately 25-30 cm from surface. Soil sampling primarily targeted the B horizon where appropriate, and samples were collected in labelled craft paper bags. Soil samples were analyzed via PXRF (Portable Thermo Scientific Niton XL3t GOLDD+ X-Ray Fluorescence Analyzer) for Cu, Pb, Zn, Ag, Mo, Sb and W. All work was conducted by the Company's team of qualified geologists.

Correction to Previous News Release

In a news release dated April 17, 2023, the Company announced the appointment of Brian Crawford as CFO and Corporate Secretary. In that announcement, the Company erroneously reported that Mr. Crawford currently serves as an officer to Colibri Resources. Mr. Crawford currently serves as a Director, Corporate Secretary, and/or CFO of Silver Bullet Mines Corp., Searchlight Resources Inc., CBLT Inc., and Tempus Capital Inc.

Qualified Person

Yingting (Tony) Guo, P.Geo., President and Chief Geologist of Jaxon Mining Inc., a Qualified Person as defined by National Instrument 43-101, has reviewed and prepared the scientific and technical information and verified the data supporting such scientific and technical information contained in this news release.

About Fathom Geophysics

Fathom Geophysics provides geophysical and geoscience data processing and targeting services to the minerals and petroleum exploration industries, from the regional scale through to the near-mine deposit scale. Among the data types we work on are: potential field data (gravity and magnetics), electrical data (induced polarization and electromagnetics), topographic data, seismic data, geochemical data, precipitation and lake-level time-lapse environmental data, and remotely-sensed (satellite) data such as Landsat and ASTER.

Fathom Geophysics offers automated data processing, automated exploration targeting, and the ability to tailor-make data processing applications. Fathom Geophysics' automated processing is augmented by expert geoscience knowledge drawn from in-house staff and from details relayed to us by the project client. Fathom Geophysics also offers standard geophysical data filtering, manual geological interpretations, and a range of other exploration campaign-related services, such as arranging surveys and looking after survey-data quality control.

About Jaxon Mining Inc.

Jaxon pursues the discoveries of deeper, under cover, commercial scale and high-grade Cu, Au, Ag, polymetallic porphyry epithermal systems. Jaxon has seven large-scale porphyry system targets on its 100% controlled Hazelton property, an interconnected network of concessions spanning ~730 km2 in the Skeena Arch in northwest British Columbia, Canada. The Company's flagship projects Netalzul Mountain and Red Springs are drill ready. The Kispiox Mountain and Blunt Mountain projects both host extensive and high-grade occurrences of antimony, a strategic and critical metal as designated by the governments of Canada and United States.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.

"John King Burns"

John King Burns, Chairman

For more information, please contact:

Investor Relations
Kaye Wynn Consulting
T: 604-558-2630
TF: 1-888-280-8128
E: info@kayewynn.com

Corporate & Investor Relations
T: 604-424-4488
E: info@jaxonmining.com
www.jaxonmining.com

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 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. 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.

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Finlay Minerals stakes the JJB Property - within the Bear Lake Corridor of British Columbia

Finlay Minerals stakes the JJB Property - within the Bear Lake Corridor of British Columbia

finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the staking of 9 mineral claims covering 15,453 hectares (approximately 154 km²) in the northern Bear Lake Corridor of British Columbia . The JJB Property is named in honour of Finlay's Founder, John J. Barakso who was an early advocate for the potential of the Bear Creek Corridor.

Figure 1. New JJB Property location and expanded SAY Property boundary. (CNW Group/Finlay Minerals Ltd.)

JJB PROPERTY:

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SAY PROPERTY:

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In 2025, exploration work at the SAY will aim to expand the mineralized footprint of the SPUR and SHEL targets through geological mapping, soil sampling, and an airborne magnetic survey.

Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

References:

*

Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca.

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:

  • PIL Property , which covers 13,374 ha in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. Exploration on the PIL Property is fully funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan (Refer to news release FYL NR03-25 entitled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties ". ) The PIL is neighboured by Amarc Resources and Freeport-McMoRan's joint venture JOY Project and TDG Gold Corporation's Shasta/Baker and Sofia Properties. The PIL Property is also 25 km northwest of Centerra Gold's past-producing Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

  • ATTY Property covers 3,875 ha of sub-alpine terrain in the southern Toodoggone region. Exploration on the ATTY Property is also full-funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan in April 2025.The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Project and the joint-venture JOY Project held by Amarc Resources and Freeport-McMoRan. The ATTY Property KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

  • Silver Hope Property covers 21,322 ha and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2 km Cu-Ag-Au mineralized trend with mineralization starting at surface.  West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC .

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

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