TerraX Commences Summer Drill Program at Yellowknife City Gold Project
July 8, 2019 TSX-V: TXR
Frankfurt: TX0
OTC Pink: TRXXF
News Release
TerraX Commences Summer Drill Program
at Yellowknife City Gold Project
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce
that the 2019 summer drill program at the Yellowknife City Gold project (“YCG”) has commenced. Phase 1 has
begun at Sam Otto South to test the 3.5 kilometer strike extension of the already defined gold structures at Sam
Otto Main. Approximately 3500 meters of diamond drilling will test and extend the strike and continuity of the 2018
step-out discovery hole at Sam Otto South ( Figure 1). The goals of the first phase of the summer drill campaign
are to define a large multi-kilometer long gold bearing system and the geometry of high-grade lenses. The Sam
Otto corridor will be tested based on surface mapping and sampling as well as geophysical interpretation of ground
magnetics (Figure 1).
David Suda, President and CEO stated, “We are excited to report that on Friday, July 5 th 2019, TerraX resumed
drilling at the YCG project on one of our highest priority targets. The opportunity at Sam Otto South is the potential
to increase the overall strike by a factor of four and to delineate higher grade structures previously unseen at this
target. Positive results could represent a material step change in our ability to deliver a significant resource.”
Figure 1: Location of planned summer 2019 Sam Otto South drilling program, showing 3.0 kilometer mineralized
structure extending south from Sam Otto Main Zone (1st Vertical Derivative of ground magnetic survey is used to
identify structures).
In addition to the ongoing program at Sam Otto, TerraX plans to commence Phase 2 drilling at the high-grade
Crestaurum deposit and BDC (Barney Deformation Corridor - North Giant Extension) targets in August 2019.
TerraX continues mapping and analyzing existing data sets from both targets to ensure accuracy of drill collar
locations. More detailed work plans for drilling at these two targets will follow in the coming weeks.
The technical information contained in this news release has been approved by Joseph Campbell, Executive
Chairman 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") project encompasses 783 sq km of contiguous land immediately north, south
and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls
one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG
project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric
power and skilled tradespeople.
The YCG project lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main
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 district.
For more information on the YCG project, please visit our web site at www.terraxminerals.com.
On behalf of the Board of Directors
"DAVID SUDA"
David Suda
President and 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 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). Forward-looking
statements in this news release include, but are not limited to, statements regarding the use of proceeds from the
Offering. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak
only as of the date of this news 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, events
or otherwise.