Jaxon Closes Flow-Through Financing; Drilling Almost Complete

Vancouver, British Columbia--(Newsfile Corp. - December 4, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) is pleased to announce it has closed a subsequent tranche of the flow-through financing first announced October 26, 2017.

The Company raised a total of $776,347.52 by issuing 2,426,086 flow-through shares at the issue price of $0.32 per share. Total proceeds raised in the flow-through financing to-date, including the first close announced on November 13, 2017, are $1,472,000. The Zijin Midas Exploration Fund, already a strategic shareholder of Jaxon, participated in the financing with the lead order. The flow-through shares are part of a donation arrangement structured by PearTree Securities Inc. Proceeds will contribute to funding the nearly-complete Fall/Winter 2017 drill program at Jaxon's Hazelton silver-zinc VMS target in BC's prolific Skeena Arch. Proceeds will also contribute to data integration and modeling from historic work at Jaxon's Moore Creek project in northern BC's Golden Triangle.

All shares from this placement are subject to a four-month hold from the date of issuance. The private placement is subject to final TSX Venture approval.

About Jaxon Jaxon is a precious and base metals exploration company with a regional focus on Western Canada. The company is currently focused on advancing its Hazelton Project in north-central British Columbia and the More Creek Project (consolidating the Wishbone and Foremore properties) in BC's Golden Triangle.

ON BEHALF OF THE BOARD OF DIRECTORS JAXON MINING INC.

'Jason Cubitt'                 Jason Cubitt, President.

For further information regarding Jaxon Mining Inc., please contact Mark Carruthers at 604-608-0400 Toll free: 1-877-608-0007.

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 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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