Drilling Begins On The Yellowknife City Gold Project

YELLOWKNIFE, NWT - TerraX Minerals Inc. has commenced its 2015 winter drill program on its wholly-owned Yellowknife City Gold project (YCG) in the Northwest Territories. This winter drill campaign will total approximately 5,000 m of drilling on the 5 km by 3 km "Core Gold Area", which includes the Barney Shear, which is the extension of the Con/Giant shear system that produced over 14 Moz of gold, and Crestaurum, and is a high grade gold zone with more than 200 drill intersections from historical holes and drilling completed by TerraX in 2014.

Drilling has begun on the Crestaurum Zone with the overall objective to test the strike and dip extensions of the high grade gold shoots within this zone and to determine the interaction of the Crestaurum shear with high grade off-angle veins discovered in surface prospecting (grab samples up to 838 g/t Au) that may form controls on the Crestaurum high grade shoots.

The initial drill holes will be collared on the South Shoot, where prior drilling returned results that included 5.00 m @ 12.42 g/t Au (hole 85-173), 5.00 m @ 8.03 g/t Au (hole 85-174), and 3.07 m @ 13.84 g/t Au (hole TNB14-015)

Later drilling will test dip and strike extensions on the Central Shoot (5.00 m @ 20.66 g/t Au in hole 85-187) as well as strike extension of the Crestaurum zone approximately 400 m northeast of the North Extension Shoot (5.00 m @ 62.90 g/t Au in hole 85-150 and 9.00 m @ 4.69 g/t Au in hole TNB14-022). These aggressive step-out holes are located near high grade grab samples from TerraX's 2014 surface prospecting that included up to 712 g/t Au in samples on the Crestaurum vein structure. These holes are also located at the interpreted intersection of the Crestaurum Shear and Shear 20 (21.12 m @ 2.97 g/t Au in hole 94-01A), providing a test of the intersection zone of two well mineralized shears.

Following the Crestaurum drilling TerraX will move 1.5 km to the northeast and drill several holes into the Barney Shear, specifically to follow up on the successful drilling done by TerraX in the winter and summer drill campaigns of 2014 (22.42 m @ 6.35 g/t Au, inclusive of 5.16 m @ 18.40 g/t Au in drill hole 95-16W1).

TerraX completed extensive repairs to the Crestaurum road in December 2014 to improve access to the 2015 drill areas. As this has also improved access in a popular recreational area, 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.

It should be noted that, due to their selective nature, assay results from grab samples may not be indicative of the overall grade and extent of mineralization on the subject area.