Jaxon Mining Announces Silver-Antimony Joint Venture with Lake Winn Resources, Inc.

(TheNewswire)

July 24 , 2025 – TheNewswire - Vancouver, BC – JaxonMining, Inc. (the “ Company ” or “ Jaxon ”) (TSXV: JAX)is pleased to announce that Jaxon has entered into a Binding Letter ofIntent (the “ LOI ”), dated July 22, 2025, with Lake Winn Resources, Inc.(“ Lake Winn ”) (TSXV: LWR) regarding Jaxon’s Blunt MountainSilver-Antimony-Gold-Lead-Zinc-Copper property.  Blunt Mountain islocated 45 kilometers North of Smithers, British Columbia and covers7,209 hectares.  Results of rock sampling along strike by Jaxon inthe Summer of 2021 ( BCAssessment Report 39740 ) are as follows:

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Figure 7.12 Rock samples with antimony values at Blunt Mountain

The primary exploration target at Blunt Mountain are intrusiverelated poly-metallic veins ofantimony, silver, gold, lead, zinc, and copper identified overa strike length of 3km.  The prospecting program at Blunt Mountain in2021 delineated the quartz-sulfide veins controlled by a sheetedfracture/shear zone.  Most rock and soil samples were collected alongthe veins.  Both rock and soil samples returned significant silver,gold, antimony, lead, zinc, and copper results.

The mineralization is hosted in a Late Cretaceousaged, Bulkley suite pluton near its northern edge and partiallytraverses into the surrounding hornfels, of the Jurassic BowserFormation.

Rock samples taken during the 2021 exploration programwere shipped to MSA Laboratory, Langley, BCunder chain of custody.  Rock samples were crushed and pulverized to85% passing 75um, then digested using aqua regia, and assayed usingmulti-element ICP EM MS, 20g aliquots.  Fire assay 30g was used forgold.

Joint Venture Agreement

The terms of the Joint Venture agreement are as follows:

1. i) Lake Winn will pay $50,000 onsigning;

2. ii) Lake Winn will complete$1,500,000 in exploration and development work within 3 years of thedate of the agreement (the “Work Commitment”);

3. iii) Upon completion of the WorkCommitment, the Project will be governed as a 51%/49% Joint Venturebetween Lake Winn and Jaxon respectively;

4. iv) Lake Winn will be theOperator; and

5. v) Should either party be dilutedbelow 10% interest, the interest will be converted to a 2% Net Smelter Return

The Joint Venture is subject to due diligence,necessary corporate and regulatory approvals and completion ofdefinitive documentation.

Hazelton Property

Jaxon controls the Hazelton Property which is comprisedof 73 contiguous mineral claims, with a total area of 72,410 hectares. The Hazelton Property is divided into 7 projects: Blunt Mountain, Red Springs, Max, Netalzul Mountain, Mt. Thoen,Rocher Deboule Mountain, and Kispiox Mountain.

Corporate Update

Jaxon has recently engaged O’Neill Law LLP to apply for a partial revocation of itsfailure-to-file cease trade order. If such an order is granted, Jaxonintends to complete financing to allow Jaxon to make all outstandingfilings to return Jaxon to good standing with a view to resumetrading. Jaxon has also engaged Copper IslandMines, Ltd. as exploration and technical consultants.

Qualified Person

Andris Kikauka (P. Geo.), Director of Jaxon Mining, hasprepared, reviewed and approved the scientific and technicalinformation in this press release. Mr. Kikauka is a director of Jaxonand therefore a non-independent Qualified Person within the meaning ofNI 43-101.

On behalf of the Board of Directors of

JAXON MINING, INC.

John King Burns

CEO

jaxonmining.com

jaxonmininginfo@gmail.com

778-846-6744

This press release containsforward-looking information or forward-looking statements(collectively, "forward-looking information") within themeaning of applicable securities laws. All statements, other thanstatements of historical fact, included herein areforward?looking information. Forward-looking information in thispress release include, but are not limited to, statements about theBinding LOI, exploration plans, financing intentions, JV structuring,and regulatory approvals. Forward-looking information is generally,but not always, identified by the words "expects","plans", "anticipates", "in the event","if", "believes", "asserts","position", "intends", "envisages","assumes", "recommends", "estimates","approximate", "projects", "potential","indicate" and similar expressions, or that events orconditions "will", "would", "may","could" or "should" occur.

The Company’s forward-lookinginformation are based on the applicable assumptions and factors theCompany considers reasonable as of the date hereof, based on theinformation available to the Company at such time, including withoutlimitation, including theCompany’s ability to complete a definitive joint venture agreement,secure financing, and resume trading . The Company cautions investors that anyforward-looking information provided by the Company is not a guaranteeof future results or performance, and that actual results may differmaterially from those in forward-looking information as a result ofvarious risk factors. These factors include, among others, failure toexecute the JV, delays in regulatory approvals, changes in explorationplans, and general market volatility. The Company disclaims anyobligation to update or revise these statements, except as required bylaw.. The reader is referred to the Company's public filings for amore complete discussion of such risk factors, and their potentialeffects, which may be accessed through the Company's profile on SEDAR+at www.sedarplus.ca . Except as required by securities law, the Company does not intend,and does not assume any obligation, to update or revise anyforward-looking information, whether as a result of new information,events or otherwise.

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