TerraX acquires Ptarmigan Mine property on Eastbelt, Yellowknife City Gold
January 12, 2018 TSX-V: TXR
Frankfurt: TX0
OTC Pink: TRXXF
News Release
TerraX acquires Ptarmigan Mine property on Eastbelt, Yellowknife City Gold
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 acquire the Ptarmigan Mine property, located within its Eastbelt property,
Yellowknife City Gold Project.
The Ptarmigan Mine (“Ptarmigan”) was a gold produce r in the Yellowknife gold district from 1941-42, in 1983, and
from 1985-1997. The main Ptarmigan vein was access ed by a shaft extending to 275 meters depth and min ed
over 400 meters of strike length. Production from Ptarmigan totaled 364,874 tonnes producing 112,213 ounces
of gold (average 9.56 g/t Au recovered). The gold is free milling with recoveries in the 1940’s reported at 97-98%.
Gold recovery in the 1985-97 period consisted of gravity and flotation concentration with reported recovery of 94%.
When the mine closed in 1997 the vein was still ope n along strike to the west on claims now owned by T erraX,
and open down dip below the mine workings. (Source: The Operation History of Mines in the Northwest Territories,
R. Silke, 2009; and Treminco Resources Limited, Ann ual Report 1990).
Joe Campbell, CEO of TerraX states, “The acquisitio n of the Ptarmigan mine property gives TerraX nearl y 1
kilometer of strike coverage along the Ptarmigan ve in trend. This provides an opportunity not only to extend the
mineralization below and along strike of the main v ein at the mine, but also offers opportunity to exp lore parallel
vein systems discovered south of the main vein and reported in historical documents and identified as potential
production areas. With paved road access from Yellowknife, and high-tension powerlines connected to the former
mine site, Ptarmigan, with exploration success, could easily be brought back to life.”
The Ptarmigan property consists of a mineral lease and a mineral claim totalling 47 hectares. TerraX has no liability
for any remediation of the previous mine site. Th e option agreement is for a 100% interest in the pr operty with
the following terms:
• A total of $5,000 in cash payments, payable on TSX -V approval of the option agreement; and
• A total of 40,000 TerraX shares issued on approval of the option agreement.
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 o n the operation history at Ptarmigan has not been p repared 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 Pt armigan as current mineral resources or mineral res erves. 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
The Yellowknife City Gold ("YCG") encompasses 440 sq km of contiguous land immediate ly north and south
of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX cont rols one of
the six major high-grade gold camps in Canada. Being within 15 km of the City of Yellowknife, the YCG is close
to vital infrastructure, 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 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
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 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 oth erwise.