Terrax Minerals

TerraX expands Yellowknife City Gold field exploration programTerraX Minerals (V.TXR) is a junior gold exploration company focused on creating shareholder value through discovery. The Company’s management team is highly experienced, with an impressive track record of success, and has assembled a highly prospective district scale land position on the doorstep of the City of Yellowknife in the Northwest Territories. With ready access to infrastructure, TerraX has been able to cost-effectively generate multiple new high-grade gold discoveries with a view to re-establishing Yellowknife as one of the premier gold mining districts in Canada.

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TerraX Winter Drilling Extends Sam Otto Zone with 1.5 km Step-out Hole, Confirming a 2.2 km Long Mineralized Zone Open Along Strike and at Depth

TerraX Minerals Inc. (TSXV: TXR) (FSE: TX0) (OTC Pink: TRXXF) is pleased to announce assay results from the first 5 holes (2,003 m) of its 2018 winter drill program now underway on the Yellowknife City Gold project. Two of these holes (688 m) tested the Sam Otto South extension, confirming a 2.2 km mineralized zone that remains open along strike and at depth. These holes were drilled as a follow up to our surface sampling program done in 2017 (news release of Sept 26, 2017). That program indicated the Sam Otto zone may extend for 3.5 kilometers south of the main zone which was drilled over 750 m of strike length in 2016. Hole TSO18-035 was collared 1.5 kilometer south of the Sam Otto main zone and intersected a broad zone of deformation and alteration (150 m wide) that contained a mineralized zone assaying 2.16 g/t Au over 27.16 m, including 1 m of 23.1 g/t Au, and 2.44 m at 7.99 g/t Au.

The second hole, TSO18-037, drilled 377 m north along strike from TSO18-035 also intersected a broad deformation and alteration zone (231.5 m wide), and contained a mineralized zone assaying 1.92 g/t Au over 11.52 meters, including 2.89 g/t Au over 3.64 meters. A map of drill hole locations is available here.

Joseph Campbell, the CEO of TerraX, stated “The extremely long step out for hole TSO18-035 confirmed our exploration targeting. The higher grade multi-gram intersections reported here exceed the grades typically seen in the Sam Otto main zone and confirm continuity within this large mineralizing system. With several kilometers of strike length to explore, we are excited about the potential for a large tonnage deposit.”

Three holes totaling 1,315 m were also drilled on the Sam Otto Main zone testing the down dip extension of previous TerraX drilling to a vertical depth of 350 meters. These three holes were drilled over 230 meters of strike length below previous drilling at the Sam Otto main zone. All holes hit typical Sam Otto main zone deformation and alteration, extending the Sam Otto main zone to depth, but with an increase in mineralized quartz veins relative to the mineralized zones in the previous shallower holes. Hole TSO18-032 intersected deformation and alteration over 247.5 m, with a well mineralized zone of 0.85 g/t Au over 62.24 m, including 2.04 g/t Au over 13.95 m. Hole TSO18-033 intersected deformation and alteration over 216.5 m, with two well mineralized zones of 0.52 g/t Au over 21.50 m and 0.50 g/t Au over 40.00 m. Hole TSO18-034 intersected deformation and alteration over 176.2 m, with well mineralized zones that included 0.51 g/t Au over 31.80 m. The following table provides a listing of all significant drill results.

Sam Otto – Main Zone Drill Results
Drill HoleDipAzimuthUTM Location From (m)To (m)Interval (m)Au g/t
EastingNorthing
TSO18-032-602706399676944586Deformation and alteration  188.0-435.5m (247.5m)
226.50228.001.501.08
289.00290.851.850.90
324.00386.2462.240.85
incl.327.85341.8013.952.04
incl.327.85328.700.8520.80
358.00362.754.750.70
incl.370.00383.7013.701.23
395.00399.304.300.84
TSO18-033-502706399786944697Deformation and alteration  158.5-375.0m (216.5m)
271.00292.5021.500.52
incl.282.57286.503.931.26
303.00343.0040.000.50
incl.315.00322.207.201.09
TSO18-034-582706399766944809Deformation and alteration  238.8-415.0m (176.2m)
238.85242.563.711.23
258.20290.0031.800.51
incl.277.00287.0010.000.99
319.00323.004.001.10
333.00334.701.701.14
incl.356.83360.103.270.85

Sam Otto  South Drill Results

Drill HoleDipAzimuthUTM Location From (m)To (m)Interval (m)Au g/t
EastingNorthing
TSO18-035-502706398026943090Deformation and alteration  96.0-246.5m (150.5m)
96.3598.602.250.62
169.64172.352.711.90
180.00184.804.800.84
201.84228.9627.122.16
incl.207.00208.001.0023.10
incl.222.93225.372.447.99
TSO18-037-502706398046943467Deformation and alteration 94.0-325.5m (231.5m)
103.62115.1411.521.92
incl.111.50115.143.642.89
134.00136.002.001.18

 

All holes were drilled approximately normal to projected strike and dip of the zones of mineralization and are interpreted to be approximately 75-80% of true thickness.

Drilling on the Northbelt property is currently being carried out by two drills on multiple targets. The initial 2018 drill campaign is planned to be approximately 6,300 meters.

For the 5 holes reported today, TerraX collected 1,587 samples for assay from the drilling reported here. Results ranged from below detection to 23.1 g/t Au. Drill hole collar locations were surveyed to sub-meter accuracy. Down hole surveying was completed on all holes. TerraX inserts certified standards and blanks into the sample stream as a check on laboratory QC. Drill core samples are cut by diamond saw at TerraX’s core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by TerraX personnel in securely sealed bags to ALS Chemex’s (ALS) preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS’s Vancouver facility for gold and ICP analysis. Gold assays of >3 g/t are re-assayed on a 30 gm split by fire assay with a gravimetric finish. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

About the Yellowknife City Gold Project

The Yellowknife City Gold (“YCG”) project encompasses 772 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

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TerraX Winter Drilling

It’s cold up in Yellowknife NWT. Which suits TerraX Minerals (V.TXR) because it means the company can deploy its drill rigs across the frozen ground with a minimum of environmental disturbance.

In a November interview with motherlodetv.net Stuart Rogers, President of Terrax, said,

“The Yellowknife Gold project is an intriguing mix of potential high-grade gold deposits and extensive lower grade gold zones at surface with a large selection of very promising drill targets for this year’s campaign.  We have over 450 drill holes in our database totaling just under 90,000m of drilling.  All the mineralized zones we are developing for resource definition and are still open along strike and at depth and will be followed up in 2018 as well. Terrax has always been about a district level program. With the rich gold mining history of Yellowknife, there is no question that there is gold there. The real question is “how much”, which involves proving up the ounces necessary to justify the investment in a mine. With high-grade deposits like Mispickel, Barney and Crestaurum and extensive low-grade deposits like Sam Otto, the ounces appear to be adding up.”

TerraX has the great advantage that its assay lab is five minutes from its core facility. What this means is that the company can get the results of its drilling fast. Perhaps fast enough that it will be able to report results from its early holes at or before PDAC.

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TerraX Begins 2018 Winter Drill Program at Yellowknife City Gold

TerraX Minerals Inc. (TSXV: TXR) (FSE: TX0) (OTC Pink: TRXXF) is pleased to announce that it has commenced its 2018 winter drill program at its Yellowknife City Gold project, immediately adjacent to the City of Yellowknife in the Northwest Territories. The initial program will total approximately 6,000 meters and incorporate up to three dill rigs to test dip and strike extensions of the Sam Otto and Crestaurum deposits (see map here).

Joe Campbell, CEO of TerraX, states “Our 2018 winter drill programs will focus on expansion of two of our most advanced high priority gold targets with a goal of significantly expanding the size of these zones of gold mineralization.”

Terrax will be drilling at the following targets:

Sam Otto

Sam Otto is a disseminated wide zone of gold mineralization with the potential to yield both a large bulk tonnage deposit at the main Sam Otto target and a high-grade deposit at Sam Otto West (formerly Dave’s Pond target) (see map here). Sam Otto is currently outlined over approximately 750 meters of strike and 250 meters of depth by 56 drill holes. Recent field work in the summer and fall of 2017 has identified the Sam Otto zone over 3.5 km of strike length, indicating potential for a large deposit. The 2018 drill program will consist of 11 holes that will extend both the strike and dip of the currently drilled deposit at Sam Otto Main and Sam Otto West.

Crestaurum

Crestaurum is a high-grade deposit currently outlined with 253 drill holes over 1.4 km of strike and 150 meters of dip. The last drilling campaign by TerraX took place in the fall of 2015 (see map here). Recent biogeochemical field work, IP surveying, and structural studies carried out in the summer and fall of 2017 have helped define the down dip and down plunge extent of the high-grade lodes at Crestaurum. These extension targets will be tested with 5 holes during the 2018 winter drilling.

The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

About the Yellowknife City Gold Project

The Yellowknife City Gold (“YCG”) project encompasses 440 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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TerraX channel sampling confirms a 100 meter wide mineralized zone at Sam Otto South

TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to report channel sample results from the Sam Otto South zone on Screamer Island. Sam Otto South is up to 3.5 km south and along trend from the main Sam Otto and extends the potential strike length of that target area to over 5 km. Channel sample results confirm the extension of the Sam Otto zone 1.5 kilometers south of the currently drilled Sam Otto main zone (see map here) (https://terraxminerals.com/projects/yellowknife-city-gold/field-exploration-2017/#feb-1-2018).

Joe Campbell, the Chief Executive Officer of TerraX, states: “The channel results reported here, coupled with drilling at the Sam Otto main zone, confirm a consistent 100-meter-wide gold zone, over a strike length of 2.2 kilometers. The drilled and channel sampled areas are themselves contained within a larger area indicated by surface sampling and geophysics, showing the potential for five kilometers of strike length. TerraX expects the planned 2018 drill programs on this new strike extension to greatly increase the overall strike and depth of the currently modelled mineralized zone at Sam Otto.”

The widest channel sampling area is located 1.2 kilometers south of TerraX’s drilling on the Sam Otto main zone and assayed 17.50 m @ 0.80 g/t Au, including 11.0 m @ 1.09 g/t Au. Importantly, this channel ended in good mineralization with 3.40 m @ 1.31 g/t Au before the outcrop was covered by overburden and vegetation. Other results included surface outcrops a further 350 meters south with channel samples of 2.7 m @ 0.97 g/t Au and 2.00 m @ 0.81 g/t Au. Both ends of the exposed outcrop ended in gram level gold assays. Together, the separate channels covered at least 100 meters width across strike, which is comparable to the width and grade of the Sam Otto Main zone.

Channel assays reported today total 202 samples with gold grades ranging from nil to 4.64 g/t Au. Channel samples are considered representative of the zones that have been sampled.

Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex’s laboratory in Yellowknife and shipped to their Vancouver facility for gold analysis by fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service. The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

About the Yellowknife City Gold Project

The Yellowknife City Gold (“YCG”) encompasses 440 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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TerraX acquires Ptarmigan Mine property on Eastbelt, Yellowknife City Gold

TerraX Minerals Inc.    (TSX.V: TXR; OTC Pink: TRXXF; Frankfurt: TX0) is pleased to report that it has entered into an agreement to acquire the Ptarmigan Mine property, located within its Eastbelt property, Yellowknife City Gold Project (see map here).

The Ptarmigan Mine (“Ptarmigan”) was a gold producer in the Yellowknife gold district from 1941-42, in 1983 and from 1985-1997. The main Ptarmigan vein was accessed by a shaft extending to 275 meters depth and mined over 400 meters of strike length. Production from Ptarmigan totaled 364,874 tonnes producing 112,213 ounces of gold (average 9.56 g/t Au recovered). The gold is free milling with recoveries in the 1940’s reported at 97-98%. Gold recovery in the 1985-97 period consisted of gravity and flotation concentration with reported recovery of 94%. When the mine closed in 1997 the vein was still open along strike to the west on claims now owned by TerraX, and open down dip below the mine workings. (Source: The Operation History of Mines in the Northwest Territories, R. Silke, 2009; and Treminco Resources Limited, Annual Report 1990).

Joe Campbell, CEO of TerraX states, “The acquisition of the Ptarmigan mine property gives TerraX nearly 1 kilometer of strike coverage along the Ptarmigan vein trend. This provides an opportunity not only to extend the mineralization below and along strike of the main vein at the mine, but also offers opportunity to explore parallel vein systems discovered south of the main vein and reported in historical documents and identified as potential production areas. With paved road access from Yellowknife, and high-tension powerlines connected to the former mine site, Ptarmigan, with exploration success, could easily be brought back to life.”

The Ptarmigan property consists of a mineral lease and a mineral claim totalling 47 hectares. TerraX has no liability for any remediation of the previous mine site. The option agreement is for a 100% interest in the property with the following terms:

  • A total of $5,000 in cash payments, payable on TSX-V approval of the option agreement; and
  • A total of 40,000 TerraX shares issued on approval of the option agreement.

The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.” The information on the operation history at Ptarmigan has not been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and TerraX is not treating any historical results at Ptarmigan as current mineral resources or mineral reserves. No qualified person has done sufficient work to classify any historical information as a current mineral resource or mineral reserve.

About the Yellowknife City Gold Project

The Yellowknife City Gold (“YCG”) encompasses 440 sq km of contiguous land immediately north and south of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Filling the News Hopper at Terrax

We recently interviewed Stuart Rogers, President of TerraX Minerals (V.TXR) about the progress the company is making at its district-scale exploration project surrounding (literally) Yellowkinfe, NWT.

This past summer was spent on doing fieldwork on both the ground the company is drilling and new ground which the company believes is highly prospective. (The fact the new ground hosted a number of historic, high grade, mines suggests there is still lots of gold to be found using modern exploration methods.)

Today, Terrax put out a press release detailing sampling results from just one of its new high-grade targets, Duck Lake to the south-east of Yellowknife. Joe Campbell, CEO of TerraX is quoted as saying, “Our summer/fall field program at Yellowknife City Gold has been extremely successful, identifying 8 new target areas with significant potential for additional high-grade gold discoveries in the near future. At Duck Lake, we are very excited by the potential for a Val d’Or type deposit. We have greatly expanded the mineralized zones and strike length surrounding targets such as Walsh Lake, Screamer Island and Homer Gold. Newly identified targets, such as Angel, Burwash, Anton, Ryan Lake and Duck Lake, provide us with further opportunities for new high-grade gold discoveries on a district scale at Yellowknife City Gold.”

So far the market has been impressed adding 4.5 cents, or just over 11.5% to Terrax’s share price.

However, for investors, today’s news is a broad hint of the news flow to come. Each of the new target properties has been sampled and similar news releases will be coming out throughout the rest of the year. Then Terrax will start turning the drills on the targets it has identified and with a lab just around the corner, drill results should start flowing in the early New Year.

For junior explorers a solid, regular, news flow is critical and TerraX looks ready to make regular, hard news, announcements well into 2018.

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TerraX Extends the Duck Lake Mineralized Zone 3 Km East and 2 Km to the South with Outcrop and Channel Sampling

TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to announce follow-up surface sampling results from the Duck Lake structure (“Duck Lake”), one of 8 new high grade target areas identified on the Yellowknife City Gold Project during field work this summer (see Map 1 here).

Initial results from Duck Lake announced July 18, 2017 identified flat dipping quartz veins ranging up to 1 meter thick exposed over a strike length of at least 500 meters (see our news release of July 18, 2017 here). Further prospecting and mapping programs by TerraX have extended the gold mineralization associated with these structures two kilometers south of the original Duck Lake discovery into the main granite intrusive areas and three kilometers east into a narrow neck of granite intrusion. The setting of the “flat” stacked veins in close proximity with granite intrusions is analogous to the Lamaque style deposits in Val d’Or, Quebec.

Joe Campbell, CEO of TerraX, states, “Our summer/fall field program at Yellowknife City Gold has been extremely successful, identifying 8 new target areas with significant potential for additional high grade gold discoveries in the near future. At Duck Lake, we are very excited by the potential for a Val d’Or type deposit. We have greatly expanded the mineralized zones and strike length surrounding targets such as Walsh Lake, Screamer Island and Homer Gold. Newly identified targets, such as Angel, Burwash, Anton, Ryan Lake and Duck Lake, provide us with further opportunities for new high grade gold discoveries on a district scale at Yellowknife City Gold.”

A total of 159 outcrop grab samples were taken at Duck Lake and were categorized by rock and vein association (Map 2 showing the location of these samples can be accessed here):

  • Quartz vein samples (flat veins) hosted in granites (31 samples) with grades up to 1.21 g/t Au
  • Composite quartz vein and granite samples (34 samples) with grades up to 6.19 g/t Au
  • Granite samples proximal to quartz veins (26 samples) with grades up to 1.09 g/t Au
  • Flat veins within metamorphic sediments (68 samples) graded up to 35.4 g/t Au

In addition, outcrop sampling conducted by TerraX suggests that the gold is contained not only in the quartz veins but in the altered contacts to the flat veins. Mixed samples of quartz and granite were more frequently anomalous in gold, and at higher grades (up to 6.19 g/t Au). To test this assumption, 71 one meter channel samples were taken within and proximal to the Duck Lake flat veins. These samples were taken from representative areas of the 500 meter strike of known veining and were categorized by rock and vein association as follows (see Map 3 here):

  • Quartz vein samples from flat veins (26 samples) with grades up to 15.5 g/t Au, with 12 samples greater than 1 g/t Au
  • Mixed quartz vein and wall rock samples (18 samples) with grades up to 13.75 g/t Au, with 9 samples greater than 1 g/t Au
  • Wall rock samples proximal to the flat veins (27 samples) with grades up to 7.20 g/t Au, with 7 samples greater than 1 g/t Au.

Future work by TerraX will include analyzing the detailed mapping that was carried out during the prospecting, with the goal of identifying intrusive centers and the more favourable intrusive rock types for gold mineralization. This work will be greatly assisted by airborne magnetic, radiometric and electromagnetic surveys which were carried out by TerraX this summer, and lake sediment and biogeochemical surveys which were completed this autumn.

Of the 230 samples reported here, 36 returned values greater than 1.00 g/t Au, of which 8 samples were over 10.00 g/t Au. Assay values ranged from nil to highs of 35.4 g/t Au. Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex’s laboratory in Yellowknife and shipped to their Vancouver facility for gold analysis by fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service. It should be noted that, due to their selective nature, assay results from grab samples may not be indicative of the overall grade and extent of mineralization on the subject area.

With the exception of certain geophysical surveys still under way, Terrax’s summer field exploration program at Yellowknife is now complete, with over 5,600 surface samples have been taken from outcrop throughout the property. Assay results are still pending from over 4,300 samples as well as biogeochemical and lake sediment surveys completed this fall throughout the property. Results will be reported when received and interpreted.

The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

About the Yellowknife City Gold Project

The Yellowknife City Gold (“YCG”) encompasses 440 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684                                                                           
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Terrax: Yellowknife Gold

The area surrounding Yellowknife in the Northwest Territories is well known for its historic gold mines. Millions of ounces have been recovered from the past producing Con and Giant Mines.  For Terrax Minerals (V.TXR), having ground within sight of the abandoned headframes of these famous mines was the beginning of the story. Extensive exploration has discovered both high grade and bulk gold showings along 45 km of strike on trend with the Con Mine and Giant Mine, two of Canada’s highest grade gold mines.

Early this year, Terrax acquired additional ground to the south and to the east of its initial holdings and now holds over 440 square kilometres of prospective ground adjacent to the City of Yellowknife.

Speaking with Stuart Rogers, President of Terrax, it is very clear the company has a plan as it explores its district-scale holdings. “We had a very successful winter drill season early this year, with over just under 15,000 meters drilled in a two month period,” said Rogers, “This summer we focused on conducting an extensive fieldwork program on the new ground we acquired as well as areas on our initial holdings that we had not fully explored.”

“The fact is we can’t do field work in winter due to snow cover but we are able to drill all year round, with easier access in many cases over frozen lakes, ” said Rogers. “We completed 3,200 line kilometres over all areas of the property that had not previously been surveyed and followed this up with ground-based magnetic surveys on known high-grade gold zones   We conducted an extensive outcrop sampling program with over 6,000 samples have been taken.  “We have 227 square kilometres in the new area we call “Eastbelt” which has never been explored using modern methods.  This area hosted several past producing, high grade, gold mines and we think it might host our next discovery.” said Rogers.

V.TXR, Terrax
Burwash Mine Map (click to enlarge)

Initial results from surface sampling have served to justify that optimism, with high-grade gold discoveries announced in July at Angel and Duck Lake on Eastbelt.  This was followed up in October by TerraX’s acquisition of the historic Burwash mine property, the site of the first, and highest grade, gold mine in the Yellowknife camp with an average production grade reported of 13.6 ounces per tonne (466 g/t Au) over a limited mine life.  TerraX believes that the high-grade gold mineralization sampled at the nearby Angel discovery is on a related structure to the Burwash mine.

“We did over 4.5 million dollars on field work this summer.  This is the sort of work that majors would do and it allows us to identify and prioritize the very best targets for next year’s campaign,” said Rogers.

“In areas of the property with overburden or lake cover, we conducted lake sediment surveys and biogeochemistry.   We sample a particular tree common to low-lying areas of the property area and do chemical analysis to see if there are trace amounts of gold in their branches and map the results,” said Rogers.

“This is all preparatory work for our drilling which will resume in early 2018,” said Rogers. “We are fortunate to have our assay lab located 5 minutes from our core facility at the airport and all our drill sites are within a half hour drive of our core facility.  This allows for a quick turnaround of assay results.    We’re hoping to have the early results of our 2018 drill program ready for by PDAC in early March, as we have done in the past.”

The reality of the marketplace means that while extensive fieldwork is the smart thing to do it is tough to raise money to do it. “We have been told many times that you need to be drilling to raise money,” said Rogers. With the recent exercise of warrants providing an addition $1.9 million in cash Terrax is in good financial shape with $2.53 million dollars in the bank as of October 17, 2017.

“The Yellowknife Gold project is an intriguing mix of potential high-grade gold deposits and extensive lower grade gold zones at surface with a large selection of very promising drill targets for this year’s campaign.   We have over 450 drill holes in our database totaling just under 90,000m of drilling.  All the mineralized zones we are developing for resource definition and are still open along strike and at depth and will be followed up in 2018 as well. Terrax has always been about a district level program. With the rich gold mining history of Yellowknife, there is no question that there is gold there. The real question is “how much”, which involves proving up the ounces necessary to justify the investment in a mine. With high-grade deposits like Mispickel, Barney and Crestaurum and extensive low-grade deposits like Sam Otto, the ounces appear to be adding up,” said Rogers.

In the next few months, the fieldwork results from the Eastbelt will continue to be released and drill targets selected for the winter drill program.   By PDAC, the first drill results should be flowing in and the market and the corporate players will be paying close attention.

When you pay attention, you realize that Terrax may actually be on the verge of developing a large gold resource with all the infrastructure, roads, power and people in place it needs to build another world-class mine in a historic mining community.

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TerraX acquires Burwash Mine property, completing ownership of high grade gold and silver trend on Eastbelt property

TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to report that it has entered into an agreement to acquire the historic Burwash Mine property, immediately adjacent to its Eastbelt property, Yellowknife City Gold Project.

The Burwash Mine (“Burwash”) was the first gold producer in the Yellowknife gold district in 1935 when a pit was excavated and a shallow shaft (40 meters) was sunk on a high grade gold vein. Burwash assays were recorded up to 10,300 g/t Au and 2,540 g/t Ag. The average production grade at Burwash was 13.6 ounces per tonne (466 g/t Au) with approximately 450 ounces of gold produced (Source: The Operation History of Mines in the Northwest Territories, R. Silke, 2009).

An initial surface sampling program at Burwash consisting of 85 grab samples from outcrop was carried out by TerraX this past summer as part of its due diligence prior to completing the agreement to acquire the property (see the map here) (https://www.terraxminerals.com/projects/yellowknife-city-gold/field-exploration-2017/#october-25-2017).

Highlights Include:

  • 201 g/t Au, 23.2 g/t Ag in outcrop grab sample
  • 2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, 0.68% Pb in outcrop grab sample

The sample grading 2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, and 0.68% Pb occurs in a highway quarry approximately 1.1 kilometers south of the 201 g/t Au sample located near the old Burwash shaft. This sample is also 1.8 kilometers north of TerraX’s Angel vein showing on Eastbelt (up to 65.7 g/t Au and 4,910 g/t Ag reported July 18, 2017). All three of these areas could be on related structures.

Joe Campbell, CEO of TerraX states, “The acquisition of the Burwash property gives TerraX complete coverage of a 3 km trend of very high grade gold and silver values extending from our Angel target to the Burwash Mine area. TerraX has completed airborne geophysics, lake sediment sampling and biogeochemical sampling over this area in the summer of 2017, and this information will be used to aggressively explore this target next year.”

The Burwash property consists of mineral leases totalling 252 hectares. The property has no environmental liabilities, having been fully remediated by the Canadian federal and territorial governments. The option agreement is for a 100% interest in the property with the following terms:

  • A total of $50,000 in cash payments, with $10,000 payable on TSX-V approval of the option agreement, $20,000 payable on the first anniversary, and a further $20,000 payable on the second anniversary of the agreement.
  • A total of 150,000 TerraX shares, with 50,000 shares to be issued on approval of the option agreement, 50,000 shares payable on the first anniversary, and a further 50,000 shares payable on the second anniversary of the agreement.
  • On exercise of the option agreement, the vendors will retain a 2% NSR on the Burwash property, of which 1.5% can be purchased by TerraX for $1 Million.

The results reported here have sample values ranging from nil to a high of 201 g/t Au. Sampling included insertion of certified standards and blanks into the stream of samples for chemical analysis. Samples were prepared at ALS Chemex’s laboratory in Yellowknife and shipped to their Vancouver facility for gold analysis by fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service. It should be noted that, due to their selective nature, assay results from grab samples may not be indicative of the overall grade and extent of mineralization on the subject area.

The technical information contained in this news release has been approved by Joseph Campbell, the Chief Executive Officer of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.” The information on the operation history at Burwash has not been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and TerraX is not treating any historical results at Burwash as current mineral resources or mineral reserves. No qualified person has done sufficient work to classify any historical information as a current mineral resource or mineral reserve.

About the Yellowknife City Gold Project

With the Burwash option and the recent staking of additional claims, the Yellowknife City Gold (“YCG”) now encompasses 440 sq km of contiguous land immediately north and south of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.

The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project’s potential as a world-class gold district.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“JOSEPH CAMPBELL”

Joe Campbell
CEO

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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TerraX Receives $1,910,759 from the Exercise of Warrants

TerraX Minerals Inc. (TSXV: TXR) (OTC Pink: TRXXF) (FSE: TX0) is pleased to report the receipt of $1,910,759 from the exercise of 3,821,518 share purchase warrants at $0.50 per share. With the exercise of these warrants, the Company now has cash on hand of $2.83 Million.

About TerraX Minerals Inc.

Terrax is focused on the development of the Yellowknife City Gold (“YCG”) in the Northwest Territories of Canada. The YCG encompasses over 418 sq km of contiguous land immediately north, south and east of the City of Yellowknife, the capital of the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

On behalf of the Board of Directors

“STUART ROGERS”

Stuart Rogers
President

For more information, please contact:

Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
svella@terraxminerals.com

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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