Jaxon closes unit private placement



    JAX-TSX.V

    VANCOUVER, Sept. 1 /CNW/ - Jaxon Minerals Inc. (the "Company") (TSX-V:
JAX), has closed a non-brokered private placement in the amount of $820,800
which is an increase of $70,800 over the amount of $750,000 announced on July
22, 2009. The Company will issue 1,325,333 flow-through units at $0.30 per
unit with each unit to be comprised of one flow-through common share and one
common share purchase warrant and 1,840,000 non flow-through units at $0.23
per unit with each unit to be comprised of one common share and one common
share purchase warrant. Each common share purchase warrant will entitle the
holder to purchase one additional common share at $0.35 per share until
September 1, 2011; provided however that should the closing price of the
Company's shares on the TSX-V be at least $0.75 per share for 20 consecutive
trading days, the Company may, by notice to the warrant holders, reduce the
remaining exercise period for the warrants to 30 calendar days from the date
of the notice. The common shares issued pursuant to the private placement as
well as the common shares issued pursuant to the exercise of the share
purchase warrants will be legended with a hold period to expire January 2,
2010. Finders' fees totaling $63,457 will be paid from the Company's working
capital commensurate with TSX.V policies.
    The funds raised will be used to conduct exploration on the Company's
Nox-Fort Project near Salmo, British Columbia and for general working capital.

    
    ON BEHALF OF THE BOARD OF DIRECTORS
    JAXON MINERALS INC.

    "Leif Smither"
    -----------------------------------
    

    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.
    

    %SEDAR: 00024980E




For further information:

For further information: regarding Jaxon Minerals Inc., please contact
Leif Smither/Michael Dake at (604) 608-0400, Toll Free: 1-877-608-0007 or
visit our website at www.Jaxonminerals.com

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Jaxon Minerals Inc.

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