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