Snow Lake project update

JAX-TSX.V

VANCOUVER, Nov. 28, 2012 /CNW/ - Jaxon Minerals Inc. (the "Company") is pleased to announce that its consulting geophysicist Mr. Bob Lo, M.Sc., MBA, P.Eng., has modelled drill targets using Jaxon's VTEM and magnetic airborne data for the Snow Lake Project. He has proposed an additional two loop (800m x 600m) ground geophysical survey and GPS grid consisting of 7 lines. Three initial priority lines over the VTEM targets will be completed and modelled to more closely define Jaxon's drill holes and the conductive target intercept points.

Koop Geotechnical Services Inc has been contracted to utilize innovative survey design with ground Time Domain Electromagnetic (TDEM) deep penetrating systems that detects volcanic hosted massive sulphides at depths normally not reached by other ground geophysical methods. Mr. David Koop, President, has 21 years exploration experience; notably over the last 12 years he has worked with numerous junior exploration companies and HudBay Minerals in the Flin Flon-Snow Lake VMS district. These deep penetrating ground geophysical methodologies helped with the discovery of HudBay Minerals Lalor Lake Mine for which HudBay received the PDAC's Prospector of the Year Award.

Jaxon and Koop are using the same ground surveying TDEM system and design that has been a part of many recent discoveries in the north. The Time Domain surface deep penetrating survey will be followed up by drilling and then a Borehole TDEM survey will be completed. Borehole surveys take 3D readings of the earth and can detect conductive sulphide lenses within a 3600 radius and up to 150 meters beyond the hole.

Koop is now also working with the new Flin Flon Mining Academy of the North through the University College of the North. This program helps train Native and northern people to perform these types of geophysical ground surveys and the creation of GPS grids. David Koop stated "We are very thankful that Jaxon Minerals will partner with us on this initiative as the Jaxon contract provides an opportunity for in field training to provide future skilled workers to help explore the north." Paul Zdebiak, President of the Company stated "Jaxon is fortunate to be able to work with David Koop and the Mining Academy. The crews are on site and we expect to begin drilling the first week of December."

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.

"Paul Zdebiak"

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.

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SOURCE: Jaxon Minerals Inc.

For further information:

regarding Jaxon Minerals Inc., please contact Leif Smither or Fulvio Scrigner at 604-608-0400, Toll Free: 1-877-608-0007 or visit our website at www.Jaxonminerals.com.