JAX-TSX.V
VANCOUVER, Nov. 10,
2014 /CNW/ - Jaxon Minerals Inc. (the "Company") has
arranged to purchase the ST SILVER-GOLD prospect in southern
Yukon, Canada.
The ST prospect, covering 4 strategic claims,
lies 120 km northwest of Whitehorse, Yukon in a region with major regional fault
systems and a large tertiary aged multiple staged volcanic complex.
Streams draining the area have long been known to carry fine
crystalline gold with the source as yet undetermined.
Previous operators have conducted regional and local surveys
which resulted in the discovery of a significant gold-silver
exploration target. The claims cover coincident airborne EM/ground
3DIP geophysical anomalies. The area of the airborne anomaly
was covered with a survey grid totaling 23 kilometers of cut lines.
Soil geochemical sampling has identified a gold/silver (plus
indicator elements) anomaly immediately down slope from the
geophysical zones. Historic exploration expenditures
total approximately $175,000.
In order to earn a 100% interest in the ST
prospect the Company will pay the arms-length vendor $1,000 cash and issue 500,000 common shares of
Jaxon Minerals Inc. The Vendor will retain a 2% NSR on future
production and will receive an annual royalty payment of
$5,000 commencing 2 years from the
date of the agreement.
This news release has been reviewed and approved
by Derek Strickland, P.Geo (a
qualified person for the purpose of National Instrument 43-101,
Standards of Disclosure for Mineral Projects), who has visited the
property.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.
"Leif
Smither"
President
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 future 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, and 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
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.
SOURCE Jaxon Minerals Inc.