Fri, 20 Sep 2019

VANCOUVER, BC / ACCESSWIRE / September 9, 2019 / TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce the extension of gold mineralization at Sam Otto by an additional 600 meters of strike with results from 1182 meters of drilling in six holes (Figure 1). These results combined with the drilling of three holes in 2018, the Sam Otto South zone now extends for 1.2 kilometers, and remains open in all directions. Gold mineralization of the Sam Otto trend has been defined for a minimum of 2.5 kilometers along the 5 kilometer Sam Otto structural corridor.

Phase 1 drill highlights from the Sam Otto South zone include: 7m of 2.93 g/t gold (within a broader interval of 40 m of 0.6 g/t Au) 14m of 1.36 g/t gold (within a broader interval of 34m of 0.64 g/t Au), 11m of 1.24 g/t gold, and 9m of 1.2 g/t gold (Figure 2). See Table 1 below for a complete summary:

Figure 1: Sam Otto 'Mineralized Zone' is defined by drilling and gold bearing surface sampling. Dotted line indicating "Mineralized Shear Structure Mapped' shows the location of favorable extensions of shears that were mapped in the summer of 2019

Message from David Suda, CEO:

"The opportunity at Sam Otto has improved considerably with these results by extending gold mineralization to 2.5 kilometers of strike length. We are very much looking forward to the remaining results from Sam Otto and the nearby high grade target at Crestaurum. These targets are in close proximity to one another and represent the opportunity for TerraX to deliver an attractive resource next to excellent infrastructure in the town of Yellowknife."

Technical Summary:

Gold mineralization encountered within the Sam Otto South target is located in shear zone structures 100 - 200 meters in width with strong sericite alteration and shearing. These geological characteristics are consistent with what is observed at the Sam Otto Main zone, clearly demonstrating the bulk tonnage of the 3.5 kilometer Sam Otto South structure.

The nine drill holes from the 2018 and 2019 campaigns in the Sam Otto South zone together with surface channel samples have shown that higher grade lenses (27m of 2.14 g/t, for e.g.) are at a 10 - 15 degree angle to the main north - south trending structure and alteration zone. An additional three drill holes have been completed this summer with results pending to test for geometric continuity of the higher grade lenses at depth. TerraX is planning aggressive step out drilling along the Sam Otto structure next winter as it will provide 100% access along the trend.

Figure 2: Areas of 'Mineralized Zone' are based on drill holes and surface sampling. All drill holes have gold mineralized intersections and the zones remain open in all directions.

Table 1:

Sam Otto South - Phase 1, 2019 DDH

Drill Hole

Dip

Azimuth

UTM Location

From (m)

To (m)

Interval (m)

Au g/t

Easting

Northing

TSO19-043

-45

270

639740

6943035

24.00

64.00

40.00

0.60

incl.

34.00

31.00

7.00

2.93

and

98.00

112.00

14.00

0.71

incl.

99.00

107.00

8.00

1.02

and

126.00

130.00

4.00

0.80

and

156.00

157.00

1.00

1.10

TSO19-044

-45

270

639742

6943140

19.85

24.00

4.15

0.79

and

30.00

31.00

1.00

0.90

and

84.00

89.00

5.00

0.46

incl.

88.00

89.00

1.00

1.28

and

112.00

113.27

1.27

0.73

and

115.09

120.00

4.91

0.88

incl.

119.00

120.00

1.00

1.70

and

147.00

149.00

2.00

0.88

and

154.00

156.00

2.00

0.40

TSO19-045

-45

270

639740

6943339

35.25

37.00

1.75

0.32

41.00

75.00

34.00

0.64

incl.

41.90

44.00

2.10

1.61

incl.

61.00

70.00

9.00

1.20

and

87.75

101.25

13.50

0.60

TSO19-046

-45

270

639787

6943420

82.00

83.00

1.00

0.52

90.00

104.00

14.00

1.36

incl.

90.00

99.62

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