TerraX Begins Drilling on Yellowknife City Gold Project

YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwired - Jan. 22, 2015) - TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0)(OTC PINK:TRXXF) has commenced its 2015 winter drill program on its wholly-owned Yellowknife City Gold project ("YCG") in the Northwest Territories. This winter drill campaign will total approximately 5,000 m of drilling on the 5 km by 3 km "Core Gold Area", which includes the Barney Shear, which is the extension of the Con/Giant shear system that produced over 14 Moz of gold, and Crestaurum, which is a high grade gold zone with more than 200 drill intersections from historical holes and drilling completed by TerraX in 2014.

View Yellowknife City Gold Project Video at: http://juniorresourcemedia.com/terrax/

Drilling has begun on the Crestaurum Zone with the overall objective to test the strike and dip extensions of the high grade gold shoots within this zone and to determine the interaction of the Crestaurum shear with high grade off-angle veins discovered in surface prospecting (grab samples up to 838 g/t Au) that may form controls on the Crestaurum high grade shoots.

The initial drill holes will be collared on the South Shoot, where prior drilling returned results that included 5.00 m @ 12.42 g/t Au (hole 85-173), 5.00 m @ 8.03 g/t Au (hole 85-174), and 3.07 m @ 13.84 g/t Au (hole TNB14-015)

Later drilling will test dip and strike extensions on the Central Shoot (5.00 m @ 20.66 g/t Au in hole 85-187) as well as strike extension of the Crestaurum zone approximately 400 m northeast of the North Extension Shoot (5.00 m @ 62.90 g/t Au in hole 85-150 and 9.00 m @ 4.69 g/t Au in hole TNB14-022). These aggressive step-out holes are located near high grade grab samples from TerraX's 2014 surface prospecting that included up to 712 g/t Au in samples on the Crestaurum vein structure. These holes are also located at the interpreted intersection of the Crestaurum Shear and Shear 20 (21.12 m @ 2.97 g/t Au in hole 94-01A), providing a test of the intersection zone of two well mineralized shears.

Following the Crestaurum drilling TerraX will move 1.5 km to the northeast and drill several holes into the Barney Shear, specifically to follow up on the successful drilling done by TerraX in the winter and summer drill campaigns of 2014 (22.42 m @ 6.35 g/t Au, inclusive of 5.16 m @ 18.40 g/t Au in drill hole 95-16W1). TerraX will be providing updates in the coming months as we carry out our exploration plan.

TerraX completed extensive repairs to the Crestaurum road in December 2014 to improve access to the 2015 drill areas. As this has also improved access in a popular recreational area, all users of the trails, mining roads and ice roads are reminded to act safely and responsibly and keep an eye out for other recreational, traditional and industrial users and hazards.

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 President 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 94.9 sq km of contiguous land immediately north of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX now controls one of the six major high-grade gold camps in Canada - and the least explored.

The project lies on the prolific Yellowknife greenstone belt and covers 15 km of strike length on the northern extension of the shear system that hosts 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 high grade drill results this year that serve to indicate the project's potential as a world-class gold district. Since February 2013, TerraX has consolidated the project area by acquiring, optioning and staking numerous properties, including: Northbelt, Goodwin, Ryan Lake, Walsh Lake, and U-Breccia, as well as staking additional contiguous lands. Being all-season road accessible and within 15 km of the City of Yellowknife, the YCG is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled trades people.

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, President

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.