TerraX receives Land Use Permit for Southbelt and p repares for 17,000 meter drill program in 2017
January 24, 2017 TSX-V: TXR
Frankfurt: TX0
OTC Pink: TRXXF
News Release
TerraX receives Land Use Permit for Southbelt and p repares for 17,000 meter drill program in 2017
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to
announce that it has received a Land Use Permit for its wholly-owned Southbelt property at Yellowknife in the
Northwest Territories. Drilling at Southbelt shou ld commence around the end of February once access routes
into the target areas have been completed.
Joseph Campbell, the CEO of TerraX, stated “The pro mpt issuance of the Land Use Permit is supportive o f the
stated mandate of the Northwest Territories governm ent to facilitate responsible exploration on its la nds. The
permit allows TerraX to begin drilling on the highl y prospective Southbelt property targets which repr esent the
continuation of gold structures south of the former Con Mine where TerraX has received surface assay results up
to 94.9 g/t gold.” Mr. Campbell further stated “The Southbelt target contains multiple high-grade gold occurrences
with very high potential for discovery”
The Southbelt property is a low cost exploration pr oject as a result of its location 3 kilometers from the city of
Yellowknife with excellent access to infrastructure, services and supplies.
From a geological perspective, the Southbelt property is adjacent to the past-producing Con mine property, where
over six million ounces of gold were mined at an average grade of 16.1 grams per tonne gold over a 60-year mine
life. Terrax has identified extensions of several mineralized trends mapped from the Con mine onto the Southbelt
property including the namesake Con shear, which ap pears to continue on to TerraX’s property for up to 5
kilometres, and the New Vein shear which contains values up to 94.9 g/t Au (news release dated Sept. 23, 2015).
Terrax received further high grade values in 2016 e xploration work with up to 33.6 g/t Au and 52 g/t A u in grab
samples (news release dated December 21, 2017). A map of the sampling at Southbelt can be accessed here
and is available on the company's website under “20 16 Field Exploration” under the Southbelt project s ection.
Terrax is planning to undertake 10,000 meters of dr illing on the impressive surface exposures of gold bearing
structures at Southbelt that are the strike extensi ons from the Con mine. Terrax has budgeted for 17, 000 meters
of drilling at Yellowknife in 2017, with the remain ing drilling to be carried out on our Northbelt pro perty, which
covers 15 km of strike immediately north of the pas t producing Giant Mine where 8.1 million ounces of gold were
mined at an average grade of 16.1 g/t Au. .
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."
About the Yellowknife City Gold Project
Yellowknife City Gold ("YCG") encompasses 129 sq km of contiguous land immediate ly north and south of the
City of Yellowknife in the Northwest Territories. T hrough a series of acquisitions, TerraX now control s one of the
six major high-grade gold camps in Canada. Being wi thin 15 km of the City of Yellowknife, the YCG is c lose to
vital infrastructure, including transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering 23 km of strike length on the south ern and
northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The proj ect area
contains multiple shears that are the recognized ho sts for gold deposits in the Yellowknife gold distr ict, with
innumerable gold showings and recent high grade dri ll results that serve to indicate the project's pot ential 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
"JOSEPH CAMPBELL"
Joe Campbell
CEO
For more information, please contact:
Samuel Vella Paradox Public Relations Inc.
Manager of Corporate Communications Phone: 514 -341-0408
Toll-Free: 1- 800-481-1876 Toll-Free: 1-866-4 60-0408
[email protected] [email protected]
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.