Vancouver - Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC Pink: JXMNF) ('Jaxon' or the 'Company') is pleased to announce the results from the 2021 soil and rock sampling program at the Kispiox Mountain project on the Hazelton Property.

54 rock samples and 11 soil samples were collected during the 2021 field season. A high-grade sample with up to 29.69% antimony was collected from within an 8-10 metre wide sulfide quartz veined mineralized zone. Three sulfide quartz mineralized zones with antimony have been identified in the area.

The Kispiox Mountain project is one of seven copper, polymetallic, porphyry-epithermal targets Jaxon is advancing on its 100% owned 723 km2 Hazelton property, located in northwest British Columbia, approximately 50 km north of Smithers, BC.

Key Highlights of the 2021 Rock and Soil Sampling Program at Kispiox Mountain Project

Three high-grade antimony sulfide quartz mineralization outcrops, KS zone 1, KS zone 2 and KS zone 3, have been identified by rock and soil samples.

A high-grade rock sample (A0027254) with up to 29.69% antimony was collected from an outcrop within an 8-10 m wide sulfide quartz veining mineralized zone, containing minerals of lead-gray stibnite and yellow valentinite. Four surface weathered outcrop samples (A0027255, A0027282-A0027284) assayed Sb grades from 0.18% to 0.59%. The oxidation and weathering of the stibnite minerals on the surface may be responsible for reducing the antimony grade within the surface rock samples.

6 metres of chip samples from the second sulfide quartz antimony mineralization zone (KS zone 2) reported an average of 2.52% antimony including a 2-metre massive sulfide zone with 6.48% antimony and multiple narrow sulfide antimony quartz veins from 1 centimetre to 20 centimetres over 4 metres.

Three rock samples (A0027277-A0027279) were collected from KS zone 3 and reported Sb assays from 0.77% to 2.76%. These rock samples contain typical striated prismatic stibnite crystals.

11 soil samples were collected from between KS zone 1 and KS zone 2 and tested with a handheld XRF analyzer which confirmed a high Sb in soil anomaly within the area.

31 rock geochemical samples show elevated Cu, Mo, As and Sb anomalies for porphyry signatures.

Mr. John King Burns, CEO and Chairman of Jaxon, commented, 'The rocks with these high-grade antimony results were taken from the propylitic alteration zone at the top of Kispiox Mountain. These anomalously high Sb grades set up the discoveries of a large antimony deposit and of the deeper porphyry system below. We will conduct further systematic soil and sulfide rock outcrop channel sampling programs and additional ground and remote geophysics in the summer of 2022, if time and budgets allow. The elevated Cu, Mo, Pb, Zn and As and the stibnite mineralization in the strong oxide hornfels are classical indicators of a deeper porphyry system. Our target is the porphyry-epithermal system located below Kispiox's epithermal cap. We are continuously evaluating our integrated geological models, ranking each of our seven porphyry-epithermal targets at Hazelton in terms of size and potential grade. With the current information, Kispiox Mountain porphyry ranks at number four behind the Netalzul Mountain, Red Springs, and Blunt Mountain projects.'

About Jaxon Mining Inc.

Rich in large-scale geological targets/assets, Jaxon has seven porphyry system targets on its 100% controlled Hazelton property, an interconnected network of concessions spanning 700 km2 in the Skeena Arch in northwest British Columbia, Canada. The Skeena Arch is an exceptionally orogenic and metallogenic setting, geochronologically suitable to host preserved porphyries.

Jaxon pursues the discoveries of deeper, under cover, commercial scale and grade Cu, Au, Ag, polymetallic porphyry epithermal systems associated with distal mineralized, propylitically altered zones nearer to surface. Jaxon's team is made up of experienced model-driven explorationists. Geochemical, geophysical and structural data is collected and integrated to generate 3D models to assist in the visualization and projection of the location of targeted porphyry systems.

Netalzul Mt is Jaxon's most advanced target, the priority of seven identified porphyry epithermal system targets at Hazelton. Red Springs is the second target being prepared for drill testing. The five other targets are in various advancing stages of exploration.

Contact:

Kaye Wynn Consulting

Tel: 604-558-2630

Email: info@kayewynn.com

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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