Jaxon Mining Inc. Retains Investor Relations Consultant and Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - October 5, 2018) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) ("Jaxon" or the "Company") is pleased to announce that it has engaged Purple Crown Communications Corp. ("Purple Crown") to serve as an investor relations consultant to the Company. Purple Crown will assist the Company to broaden its shareholder base and create effective tools for communicating with shareholders and potential investors.

As compensation, the Company has agreed to pay Purple Crown $5,000 per month for an initial three month term. Except for the investor relations services agreement, Purple Crown does not have any interest in the Company or its securities. The engagement of Purple Crown as an investor relations consultant to the Company is subject to the acceptance of the TSX Venture Exchange.

Additionally, the Company announces a correction to its news release issued on July 20, 2018. Reference in that news release to announce "The Company closed on 2,000,000 units at a price of $0.12 for additional gross proceeds of $240,000" should read "The Company closed on 1,100,000 units at a price of $0.12 for additional gross proceeds of $132,000". The aggregate subscription of the Offering was 4,059,500 units sold at a price of $0.12 to raise gross proceeds of $487,140.

About Purple Crown Communications Corp.

Purple Crown Communications Corp. is a full service investor relations and communications firm in Vancouver, driven by delivering results to their clients. With over 25 years of combined industry experience, Purple Crown has cultivated extensive relationships in the investment industry as well as the knowledge to effectively communicate their client's message to targeted investors.

About Jaxon Mining Inc.

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 British Columbia's Golden Triangle.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.

"John King Burns"

John King Burns, Chairman

For Investor Relations enquiries for Jaxon Mining Inc., please call 604-609-6152, and for Corporate enquiries, please call 604-608-0400, or 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.