Jaxon Mining Updates on Blunt Mountain Silver-Antimony Property and Corporate Changes

September 10, 2025 — Jaxon Mining Inc. (TSXV: JAX) announced an update on the Binding Letter of Intent with Lake Winn Resources regarding Jaxon's Blunt Mountain Silver-Antimony Property. The LOI, dated July 24, 2025, has been terminated without recourse due to concerns that the proposed earn-in to a 50/50 Joint Venture might be considered a fundamental acquisition under TSX-V policies. The companies are exploring alternative transaction structures.

Jaxon retains 100% ownership of the Blunt Mountain Silver-Antimony Project, located 45 kilometers north of Smithers, British Columbia. The company also announced the passing of Director Laurence Stephenson and the appointment of Evan Delukas to the Board of Directors and as Chief Financial Officer, effective August 28, 2025.

Jaxon has applied for a partial revocation of its failure-to-file cease trade order and intends to complete financing to return to good standing and resume trading.

Andris Kikauka (P. Geo.), Director of Jaxon Mining, has reviewed and approved the technical information in this release.

Contact: John King Burns, CEO, jaxonmininginfo@gmail.com, 778-846-6744

Source: Jaxon Mining