Axe Exploration Inc.
TSX VENTURE : AXQ

Axe Exploration Inc.

August 05, 2014 10:00 ET

Axe Exploration Announces its First Exploration Results on the GoldPeak Property

LAVAL, QUEBEC--(Marketwired - Aug. 5, 2014) - Axe Exploration Inc. (TSX VENTURE:AXQ) (the "Corporation") announces that it has received the first assay results from the exploration work carried out on its 100%-owned GoldPeak Property.

Highlights and Results:

During the last few months, prospecting was carried out on the linecutting in order to identify potentially outcrop zones from the anomalies localized and defined by the GPS magnetometer survey and OreVision survey (Dipole-Dipole) completed on the GoldPeak Property in 2013. One anomalous zone is subcropping and was manually stripped and sampled.

Several samples collected by hand with hammer and chisel were sent to the ALS Minerals laboratory in Val-d'Or (Quebec) for gold analysis by Atomic Absorption (30 g) and to Aqua Regia ICP-AES for the analysis of 35 other elements. Two (2) samples turned out to be anomalous in Ag, Cu and Zn (Table below). These samples consist of a strongly sheared and oxidized zone with 5 to 10% sulphides (pyrite and chalcopyrite).

Sample # Au (ppm) Ag (ppm) Cu (ppm) Zn (ppm) Fe (%) S (%)
P225812 0.01 0.5 405 2470 5.74 3.52
P225813 0.006 0.3 232 1550 4.24 2.33

Further work, such as mechanical stripping and/or diamond core drilling will be evaluated and planned in this area in order to obtain, if possible, a better understanding of the structure and mineralizing environment.

QUALIFIED PERSON

Mr. Daniel Gaudreault, Ing., Geo. (OIQ), of Géologica Groupe-Conseil, is the Qualified Person as defined by National Instrument 43-101, to supervise the preparation of this press release.

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.

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