TXR Terrax Minerals Inc

TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TXO) has commenced drilling on
its wholly-owned Yellowknife City Gold Project ("YCGP") in the Northwest
Territories. 


The first drill hole was collared on the Northbelt Property of the YCGP.
Northbelt is the strike extension of the geology which hosted the previously
producing Con and Giant gold mines, which together mined over 13M oz of gold.
This marks the first drilling on the Northbelt since 1996, a period of 18 years.



TerraX's first drill campaign will total approximately 6,000 m of drilling and
test three initial target areas; the Barney Shear, which is the extension of the
Con/Giant shear system; the Crestaurum Zone, which is a high grade zone with
nearly 200 historical drill intersections; and the Homer Lake base
metal/precious metal target at the north end of the property The first drill
hole will be collared at Homer Lake to target a buried conductor identified by
airborne surveys in 2013 that has never been drill-tested This target area is
within 500 m of a previously established ice road which makes winter access
easier and with much less environmental impact than overland access in summer
conditions. TerraX expects to be able to take advantage of 6-8 weeks of ice road
use before spring breakup. Although Crestaurum and the Barney Shear are
currently TerraX's highest priority gold targets, the logistics associated with
Homer Lake access dictate that it be drilled first. 


Homer Lake is not a traditional gold target as would be expected in a major gold
belt like the Yellowknife Gold Camp. It was originally discovered from surface
prospecting in the 1930s and six mineralized structures were delineated during
reconnaissance prospecting by TerraX in the Homer Lake area in 2013. One
structure has been traced by TerraX for 1,200 m and has chip sample results of 7
m @ 0.50 g/t Au, 90.2 g/t Ag, 4.25% Pb and 0.89% Zn. A parallel structure
sampled by TerraX graded 5 m @ 1.54 g/t Au, 95.5 g/t Ag, 3.13% Pb and 1.59% Zn.
A grab sample by TerraX from a third structure graded 0.60 g/t Au, 529 g/t Ag,
greater than 20% Pb, and 9.44% Zn. Historical reports of drilling on another
structure included 6.10 m of 2.54 g/t Au, 204.0 g/t Ag, 10.82% Pb, 6.03% Zn and
0.55% Cu in hole 38-02; this intersection was less than 50 m below surface.
(This drill result is historical in nature, has not been verified by TerraX, and
should not be relied upon.)


In July 2013 TerraX carried out an airborne electromagnetic (EM) survey which
revealed a 1.2 km long, north-trending conductor at the Homer Lake target, 400 m
of which is highly conductive. The source of this conductor is buried and 3-D
modeling indicates a top of the conductor at approximately 110 meters below
surface, with a steep westerly dip. None of the known surface mineralized zones
mentioned above were conductive in the 2013 EM survey, and the buried conductor
has never been tested by drilling. This conductor will be the target of this
initial 750 m drill program planned at Homer Lake, following which the drill rig
will be moved to south end of the property to commence drilling at Barney and
Crestaurum, where TerraX reported assay results from re-logging and sampling of
core from historical drill holes that included 28.32 m @ 2.97 g/t Au on the
Barney Shear Zone (news release of August 14, 2013) and 5.00 m @ 62.90 g/t Au
from Crestaurum (news release of October 2, 2013). 


TerraX will be providing updates on activities in the coming months as we carry
out our advanced exploration plans. All users of the trails, mining roads and
ice roads are reminded to act safely and responsibly and keep an eye out for
other recreational, traditional and industrial users and hazards.


About the Yellowknife City Gold Project

The Yellowknife City Gold Project encompasses approximately 8,400 hectares of
contiguous land immediately north of the City of Yellowknife in the Northwest
Territories and includes TerraX's wholly-owned Northbelt property acquired in
February 2013.


The Northbelt gold property encompasses 3,562 hectares on the prolific
Yellowknife belt, all within 15 km of the city of Yellowknife, and covers 13 km
of strike on the northern extension of the geology that contained the Giant (7.8
Moz) and Con (5.5 Moz) gold mines. The Northbelt property is host to multiple
shears that are the recognized hosts for gold deposits in the Yellowknife camp
and it contains innumerable gold showings and historic high grade drill results.



TerraX has carried out a strategy of acquiring prospective ground adjacent to
Northbelt and in October 2013 entered into an option agreement whereby it can
acquire a 100% interest in the Walsh Lake gold property, which is contiguous
with and immediately east of Northbelt. The Walsh Lake property consists of
seven leases and five claims totaling 6,659 acres (2,695 hectares). TerraX has
also staked and acquired ground to the west of Northbelt to cover prospective
geology that is on strike from Northbelt structures.


For more information on the Yellowknife City Gold Project, please visit our web
site 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paradox Public Relations
514-341-0408 or Toll Free: 1-866-460-0408
info@paradox-pr.ca

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