Jaxon Mining Provides Blunt Mountain Silver-Antimony Update
thenewswire.com
September 10, 2025 – TheNewswire - Vancouver, BC – Jaxon Mining, Inc. (the “Company” or “Jaxon”) (TSXV: JAX) the Company announces an update regarding the Binding Letter of Intent dated July 24, 2025, with Lake Winn Resources (“Lake Winn”), in connection with Jaxon's Blunt Mountain Silver-Antimony Property (see press release dated July 24, 2025). In 2021, multiple rock samples at Blunt Mountain assaying greater than 700 g/t Ag and 4% Sb were collected by Jaxon along strike as described in the table below. As a result of the transaction Lake Winn Resources stock was halted and it was determined that the proposed earn-in to 50/50 Joint Venture, involving a $50,000 cash payment to Jaxon and $1.5M in work commitment over 3 years, may be considered a fundamental acquisition under TSX-V policies. Given the time and expense related to a possible fundamental acquisition, Lake Winn and Jaxon have terminated the LOI without recourse pursuant to a termination agreement dated August 18, 2025 permitting Lake Winn to return to trade. The Company and Lake Winn are evaluating alternative transaction structures.
Jaxon has retained 100% ownership in the Blunt Mountain Silver-Antimony Project. Blunt Mountain is located 45 kilometers North of Smithers, British Columbia and covers 7,209 hectares. Results of rock sampling along strike by Jaxon in the Summer of 2021 (BC Assessment Report 39740) are as follows:
Sample ID
| Easting
| Northing
| Elevation
| Au g/t
| Ag g/t
| Sb ppm
| Pb ppm
| Zn ppm
| Cu ppm
| 72027
| 611202
| 6122543
| 1828
| 0.663
| 4
| 32
| 554
| 46
| 17
| 72028
| 611496
| 6123305
| 1514
| 1.273
| 335
| 39140
| 93500
| 42100
| 1720
| 72029
| 611681
| 6123579
| 1414
| 1.21
| 778
| 49860
| 110700
| 5091
| 1032
| 72030
| 611190
| 6122843
| 1642
| 2.68
| 923
| 40430
| 83900
| 20900
| 3587
| 72045
| 611118
| 6123057
| 1692
| 3.055
| 92.1
| 17430
| 56200
| 472
| 218
| 72046
| 611486
| 6123296
| 1521
| 0.377
| 762
| 48860
| 100800
| 19600
| 2479
| 72047
| 611486
| 6123296
| 1521
| 1.087
| 117
| 1268
| 3122
| 5907
| 340
| 72048
| 611486
| 6123296
| 1521
| <0.005
| 1.6
| 46
| 57
| 2864
| 49
| 72049
| 611486
| 6123296
| 1521
| <0.005
| 8.2
| 202
| 5363
| 1287
| 81
| 72050
| 611678
| 6123571
| 1410
| 1.061
| 253
| 48630
| 117700
| 18800
| 400
|
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Figure 7.12 Rock samples with antimony values at Blunt Mountain
The primary exploration target at Blunt Mountain are intrusive related poly-metallic veins of silver, antimony, gold, lead, zinc, and copper identified over a strike length of 3km. The prospecting program at Blunt Mountain in 2021 delineated the quartz-sulfide veins controlled by a sheeted fracture/shear zone. Most rock and soil samples were collected along the veins. Both rock and soil samples returned significant silver, gold, antimony, lead, zinc, and copper results.
The mineralization is hosted in a Late Cretaceous aged, Bulkley suite pluton near its northern edge and partially traverses into the surrounding hornfels, of the Jurassic Bowser Formation.
Rock samples taken during the 2021 exploration program were shipped to MSA Laboratory, Langley, BC under chain of custody. Rock samples were crushed and pulverized to 85% passing 75um, then digested using aqua regia, and assayed using multi-element ( 39 elements) ICP EM MS, 20g aliquots, Fire assay 30g was used for Au.
Hazelton Property
Jaxon controls the Hazelton Property proximate to Smithers, BC. The Hazelton Property is divided into 7 projects: Blunt Mountain, Red Springs, Max, Netalzul Mountain, Mt. Thoen, Rocher Deboule Mountain, and Kispiox Mountain.
Appointments
The Company announces the untimely passing of Laurence Stephenson, a long time Jaxon Director. The Company announces Evan Delukas has been appointed to the Board of Directors of Jaxon Mining and as Chief Financial Officer effective August 28, 2025.
Partial Cease Trade Revocation
Jaxon has recently engaged O’Neill Law LLP who has applied for a partial revocation of its failure-to-file cease trade order. If such an order is granted, Jaxon intends to complete a financing to allow Jaxon to make all outstanding filings to return Jaxon to good standing with a view to resume trading.
Qualified Person
Andris Kikauka (P. Geo.), Director of Jaxon Mining, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a Director of Jaxon and therefore a non-independent Qualified Person within the meaning of NI 43-101.
On behalf of the Board of Directors of
JAXON MINING, INC.
John King Burns
CEO
jaxonmining.com
jaxonmininginfo@gmail.com
linkedin.com/company/jaxon-mining
778-846-6744
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation, including, without limitation, statements with respect to the potential restructuring of a joint venture or alternative transactions with Lake Winn Resources, the Company’s future exploration plans, the anticipated financing and use of proceeds, plans to cure the Company’s continuous disclosure defaults, and expectations regarding the resumption of trading in the Company’s securities.
Forward-looking statements are typically identified by words such as “anticipates”, “believes”, “expects”, “intends”, “plans”, “estimates”, “may”, “will”, “should”, “could”, “would”, “continue”, “forecast”, “potential” and similar expressions. All statements herein, other than statements of historical fact, are forward-looking statements and are based on assumptions, estimates and projections as of the date of this news release. These assumptions include, without limitation: the timely receipt of regulatory and third-party approvals; the Company’s ability to secure financing on acceptable terms; the reliability of historical sampling data; and the continuation of favourable exploration conditions.
Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such statements. These risks include, but are not limited to: failure to finalize alternative transaction terms with Lake Winn Resources; the inability to raise necessary capital or obtain regulatory approvals; changes to planned exploration programs; geological and exploration risks; and the possibility that the cease trade order is not partially revoked or fully lifted.
Readers are cautioned that the foregoing list of risk factors is not exhaustive. Additional information on these and other risks, uncertainties and assumptions may be found in the Company’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca . Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of the Company’s operating environment.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. |
