TerraX Minerals Inc.
TSX VENTURE : TXR
OTC PINK : TRXXF
FRANKFURT : TX0

TerraX Minerals Inc.

June 09, 2015 08:00 ET

TerraX & Osisko Begin Structural Fieldwork at Yellowknife City Gold Project; TerraX Receives NWT Mineral Incentive Program Grant of $80,000

YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwired - June 9, 2015) - TerraX Minerals Inc. (TSX VENTURE:TXR)(OTC PINK:TRXXF)(FRANKFURT:TX0) has begun fieldwork on the Yellowknife City Gold Project ("YCG") with the assistance of technical staff from Osisko Gold Royalties Ltd. (TSX:OR). This cooperative work follows Osisko's agreement to invest $2.5 Million in TerraX by way of a non-brokered flow-through private placement currently being finalized. The fieldwork will focus on field mapping of structurally controlled gold targets that were identified by geophysical and geological programs previously carried out by TerraX and will allow us to prioritize drill targets for the summer drill program scheduled for start-up in mid July. Fieldwork will also include an orientation geochemical exploration program and field checking of radiometric anomalies identified by TerraX's 2013 airborne geophysical program.

The current work programs will be partly funded by a Mineral Incentive Program (MIP) grant. The MIP was initially started in 2014 by the government of the Northwest Territories (NWT) to provide funding to prospectors and exploration companies who propose new exploration projects or are already carrying out NWT mineral exploration work. The MIP is intended to stimulate and sustain mineral exploration activities throughout the NWT and reduce the risk associated with grass roots mineral exploration. TerraX is pleased to announce that an application for innovative exploration research on its YCG project has resulted in an award of $80,000 from MIP. The support shown through its MIP is seen by TerraX as a progressive move by the NWT government to sustain mining as an important economic driver in the NWT economy.

TerraX also recently expanded its land position in the eastern part of the YCG by staking one claim and optioning an additional claim from local prospector Walt Humphries. The latter claim is added to the Walsh Lake property presently under option from Mr. Humphries.

About the Yellowknife City Gold Project

The Yellowknife City Gold Project now encompasses approximately 99.3 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 past 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 Yellowknife City Gold Project, please visit our website 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.

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