TerraX acquires Burwash Mine property, completing ownership of high grade gold and silver trend on Eastbelt property
October 25, 2017 TSX-V: TXR
Frankfurt: TX0
OTC Pink: TRXXF
News Release
TerraX acquires Burwash Mine property, completing ownership of high grade gold and silver
trend on Eastbelt property
Vancouver, B.C. – TerraX Minerals Inc. (TSX.V: TXR; OTC Pink: TRXXF; Frankfurt: TX0) is pleased to
report that it has entered into an agreement to acq uire the historic Burwash Mine property, immediatel y adjacent
to its Eastbelt property, Yellowknife City Gold Project.
The Burwash Mine (“Burwash”) was the first gold pro ducer in the Yellowknife gold district in 1935 when a pit was
excavated and a shallow shaft (40 meters) was sunk on a high grade gold vein. Burwash assays were rec orded
up to 10,300 g/t Au and 2,540 g/t Ag. The average p roduction grade at Burwash was 13.6 ounces per tonn e
(466 g/t Au) with approximately 450 ounces of gold produced (Source: The Operation History of Mines in the
Northwest Territories, R. Silke, 2009).
An initial surface sampling program at Burwash cons isting of 85 grab samples from outcrop was carried out by
TerraX this past summer as part of its due diligenc e prior to completing the agreement to acquire the property
(see the map here ).
Highlights Include:
• 201 g/t Au, 23.2 g/t Ag in outcrop grab sample
• 2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, 0.68% Pb in outcrop grab sample
The sample grading 2.87 g/t Au, 16.2 g/t Ag, 5.55% Zn, and 0.68% Pb occurs in a highway quarry approxi mately
1.1 kilometers south of the 201 g/t Au sample locat ed near the old Burwash shaft. This sample is also 1.8
kilometers north of TerraX’s Angel vein showing on Eastbelt (up to 65.7 g/t Au and 4,910 g/t Ag report ed July 18,
2017). All three of these areas could be on related structures.
Joe Campbell, CEO of TerraX states, “The acquisitio n of the Burwash property gives TerraX complete cov erage
of a 3 km trend of very high grade gold and silver values extending from our Angel target to the Burwa sh Mine
area. TerraX has completed airborne geophysics, la ke sediment sampling and biogeochemical sampling ov er
this area in the summer of 2017, and this information will be used to aggressively explore this target next year.”
The Burwash property consists of mineral leases tot alling 252 hectares. The property has no environmen tal
liabilities, having been fully remediated by the Ca nadian federal and territorial governments. The opt ion
agreement is for a 100% interest in the property with the following terms:
• A total of $50,000 in cash payments, with $10,000 payable on TSX-V approval of the option agreement,
$20,000 payable on the first anniversary, and a fur ther $20,000 payable on the second anniversary of
the agreement.
• A total of 150,000 TerraX shares, with 50,000 shar es to be issued on approval of the option agreement ,
50,000 shares payable on the first anniversary, and a further 50,000 shares payable on the second
anniversary of the agreement.
• On exercise of the option agreement, the vendors w ill retain a 2% NSR on the Burwash property, of
which 1.5% can be purchased by TerraX for $1 Million.
The results reported here have sample values rangin g from nil to a high of 201 g/t Au. Sampling inclu ded
insertion of certified standards and blanks into th e stream of samples for chemical analysis. Samples were
prepared at ALS Chemex’s laboratory in Yellowknife and shipped to their Vancouver facility for gold an alysis by
fire assay and other elements by ICP analysis. ALS is a certified and accredited laboratory service. I t should be
noted that, due to their selective nature, assay re sults from grab samples may not be indicative of th e overall
grade and extent of mineralization on the subject area.
The technical information contained in this news re lease has been approved by Joseph Campbell, the Chi ef
Executive Officer of TerraX, who is a Qualified Per son as defined in "National Instrument 43-101, Stan dards of
Disclosure for Mineral Projects." The information on the operation history at Burwash has not been pr epared in
accordance with National Instrument 43-101 - Standa rds of Disclosure for Mineral Projects (“ NI 43-101 ”) and
TerraX is not treating any historical results at Bu rwash as current mineral resources or mineral reser ves. No
qualified person has done sufficient work to classi fy any historical information as a current mineral resource or
mineral reserve.
About the Yellowknife City Gold Project
With the Burwash option and the recent staking of a ddidional claims, the Yellowknife City Gold ("YCG") now
encompasses 440 sq km of contiguous land immediatel y north and south of the City of Yellowknife in the
Northwest Territories. Through a series of acquisit ions, TerraX controls one of the six major high-gra de gold
camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close to vital infrastructu re, including
transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering 45 km of strike length along the ma in
mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear
system that hosted the high-grade Con and Giant gol d mines. The project area contains multiple shears that are
the recognized hosts for gold deposits in the Yello wknife gold district, with innumerable gold showing s and
recent high-grade drill results that serve to indicate the project's potential as a world-class gold d istrict.
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"
Joe Campbell
CEO
For more information, please contact:
Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749
Toll-Free: 1-855-737-2684
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 informat ion, which involves known and unknown risks, uncert ainties
and other factors that may cause actual events to d iffer materially from current expectation. Importan t 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 ex pectations are
disclosed in the Company's documents filed from tim e to time on SEDAR (see www.sedar.com ). Readers are
cautioned not to place undue reliance on these forw ard-looking statements, which speak only as of the date of
this press release. The company disclaims any inten tion or obligation, except to the extent required b y law, to
update or revise any forward-looking statements, wh ether as a result of new information, future events or
otherwise.