Jaxon Announces a Private Placement Funding of $750,000

Jaxon Minerals Inc. (TSX VENTURE:JAX) - 

The Company announces it will enter into a non-brokered private placement of up
to $750,000 comprised of $405,000 of flow through units and $345,000 of non flow
through units. Each flow through unit will be priced at $0.30 and will be
comprised of one flow through common share and one share purchase warrant. Each
non flow through unit will be priced at $0.23 and will be comprised of one
common share and one share purchase warrant. Each share purchase warrant from
both the flow through units and the non flow through units will entitle the
holder to purchase one common share at $0.35 per share with an expiry date of
two years from the closing of the private placement; provided however that
should the closing price of the Company's share price 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.


A finders fee will be paid on a portion of the placement commensurate with TSX.V
policies.


Monies raised will be used to fund exploration on the Company's optioned Nox
Fort project near Salmo, British Columbia and for general working capital.


ON BEHALF OF THE BOARD OF DIRECTORS JAXON MINERALS INC.

Laurence Stephenson, 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, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in the 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 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 to the date of the 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.