Jaxon Announces AGM Results

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2023) - Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) (OTC Pink: JXMNF) ("Jaxon" or the "Company") is pleased to announce the results from its 2023 Annual General and Special Meeting (the "Meeting") held on Friday, February 24, 2023.

A total of 60,299,439 common shares, representing 35.89% of the issued and outstanding common shares of the Company, were represented at the Meeting. The following resolutions were approved:

1. The number of directors of the Company was set at five (5).

2. John King Burns, Yingting (Tony) Guo, James Lavigne, Laurence Stephenson and Melinda Hsu were elected directors of the Company to hold office until the next annual general meeting of the Company.

3. DMCL LLP Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year and the directors were authorized to fix the auditors' remuneration.

4. By ordinary resolution, the Company's Stock Option Plan, as described in the Company's Information Circular dated January 20, 2023, and as available on SEDAR at www.sedar.com, was approved.

PDAC 2023

Jaxon is pleased to announce it will be exhibiting at PDAC 2023 from March 5 to 8 in Toronto. Please join us at booth 2704 in the Investors Exchange. For more information, visit https://www.pdac.ca/convention.

About Jaxon Mining Inc.

Jaxon pursues the discoveries of deeper, under cover, commercial scale and grade Cu, Au, Ag, polymetallic porphyry epithermal systems. Jaxon has seven large-scale 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 Company's flagship projects Netalzul Mountain and Red Springs are drill ready. The Kispiox Mountain and Blunt Mountain projects both host extensive and high-grade occurrences of antimony, a strategic and critical metal as designated by the governments of Canada and United States.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.

"John King Burns"

John King Burns, Chairman

For more information, please contact:

Investor Relations

Kaye Wynn Consulting
T: 604-558-2630
TF: 1-888-280-8128
E: [email protected]

Freeform Communications
T: 604-243-0499
E: [email protected]

Corporate
T: 604-424-4488
E: [email protected]
www.jaxonmining.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 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. 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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