TXR Terrax Minerals Inc

TerraX Minerals Inc. (TSX VENTURE:TXR)(FRANKFURT:TX0) reports further assay
results from the ongoing re-logging and re-sampling of drill core from its
Northbelt property in the Yellowknife gold camp. NB96-24 is the longest hole
ever drilled on the Northbelt property (674 m), and was logged with the view of
examining the widest transect of the Barney Lake Shear Corridor. The hole
intersected 7 separate zones of mineralization in mafic volcanics, including
gold, silver, copper and lead, and then intersected highly altered and
mineralized porphyry to the end of the hole hosting gold silver, copper and
molybdenum mineralization. The highest grade zones occurred in the porphyry
(4.00 m @ 7.73 g/t Au, 6.8 g/t Ag, 0.13% Mo and 2.00 m @ 7.44 g/t Au, 14.5 g/t
Ag and 0.24% Cu), and the widest zones in the volcanics (72.00 m @ 0.43 g/t Au,
2.7 g/t Ag, 0.08% Cu). The hole was terminated in mineralization.


Hole NB96-24 was collared in largely unaltered and massive to pillowed volcanics
200 m south of hole NB95-16 (20.86 m @ 3.79 g/t Au, inclusive of 4.00 m @ 12.59
g/t Au reported August 14, 2013) on the Barney Zone. At 188 m down hole the
volcanics become sheared, and at 287 m alteration and visible mineralization
(pyrite, arsenopyrite, chalcopyrite, galena, pyrrhotite, sphalerite, stibnite)
become pervasive at low levels (1-3% combined sulphides) with significant zones
of higher concentration (locally greater than 10% combined sulphides) down to
588 m in the hole. From 588 m to the end of the hole at 674 m, NB96-24
intersected altered and mineralized granodiorite porphyry with feldspar altered
to grey clay and amphiboles replaced by carbonate. Mineralization consists of
quartz veins with pyrite, chalcopyrite, molybdenite, pyrrhotite and galena. The
final 42 m of core from the bottom of the hole was jumbled and disorganized, so
was not sampled, although visible alteration and mineralization continued to the
end of the hole. Based on the high-grade values reported today from the last
2.00 m of core that we were able to sample (2.00 m @ 7.44 g/t Au, 14.5 g/t Ag,
0.24% Cu), re-assemby and analysis of this final 42 m of core has become a high
priority.


TerraX considers the results from NB96-24 highly significant as it indicates a
new style of mineralization on the Northbelt property (porphyry gold, silver,
copper, molybdenum). The potential of this style of mineralization is further
enhanced by the fact that TerraX has sampled on surface what appears to be
porphyry style mineralization two kilometers to the east of the Barney Lake
Shear Corridor within and adjacent to the Ryan Lake granodiorite intrusion. Grab
samples of vein material at Ryan Lake assayed up to 3.15 g/t Au, 170 g/t Ag and
0.85% Mo (news release November 6, 2013). Together, these occurrences indicate
the potential for a very large mineralized plumbing zone in the Barney Lake
Shear Corridor. Historical reports from the Con Mine at Yellowknife indicated
similar porphyry mineralization proximal to the Con gold shear zones, and this
commonality between the two areas is further encouragement that the Barney Lake
Corridor has the potential to host a large gold deposit. 


TerraX is currently analyzing core from more than 200 drill holes previously
stored in the core yard at the Giant Mine site in Yellowknife (see news release
of July 22, 2013), the assay results from the majority of which have never been
reported by prior operators. Terrax has previously announced results from the
Crestaurum Zone (5.00 m @ 62.90 g/t Au in drill hole 85-150 reported October 2,
2013), the Barney Zone (20.86 m @3.79 g/t Au, inclusive of 4.00 m @ 12.59 g/t Au
in drill hole NB95-16 reported August 14, 2013) and the 20 Shear (21.12 m @ 2.97
g/t Au, inclusive of 3.88 m @ 8.81 g/t Au in drill hole NB94-01A reported
October 16, 2013). 


The core was subjected to a full geological and geotechnical analysis which
included refitting of the core, revealing 100% recovery (excluding the jumbled
bottom of NB96-24) and excellent geotechnical rock quality values. Core
distances were converted from the original imperial measurements (feet) to
metric (meters), and new core sampling intervals designated from the metric
measurements. 


TerraX collected 282 samples for assay from NB96-24. Results ranged from below
detection to a high of 28.6 g/t Au. Core samples were cut with a diamond saw
blade. Sampling over several intervals was done by quarter core sampling of half
sawn core that remained from previous sampling in 1996. In these areas a quarter
core sample remains in the core boxes for further examination if required.
Significant assay results include:




----------------------------------------------------------------------------
Drill Hole  From (m) To (m) Width (m) Au g/t Ag g/t  Cu%  Pb%  Mo% Rock Type
----------------------------------------------------------------------------
NB96-24       306.00 307.40      1.40   0.28  63.90 0.08 1.20    - Volcanic 
----------------------------------------------------------------------------
              322.00 332.00     10.00   1.20      -    -    -    - Volcanic 
----------------------------------------------------------------------------
  incl        324.00 326.00      2.00   3.64      -    -    -    - Volcanic 
----------------------------------------------------------------------------
              357.00 372.00     15.00   0.72   5.80    - 0.17    - Volcanic 
----------------------------------------------------------------------------
  incl        358.00 360.00      2.00   0.56  22.30    - 0.84    - Volcanic 
----------------------------------------------------------------------------
  and incl    360.95 365.46      4.51   1.59   3.50    - 0.09    - Volcanic 
----------------------------------------------------------------------------
              387.00 399.00     12.00   0.24      -    -    -    - Volcanic 
----------------------------------------------------------------------------
  (i)         420.00 492.00     72.00   0.43   2.70 0.08    -    - Volcanic 
----------------------------------------------------------------------------
  incl        420.00 432.00     12.00   0.67   4.60    -    -    - Volcanic 
----------------------------------------------------------------------------
  and incl    439.50 466.00     26.50   0.59  11.30 0.15    -    - Volcanic 
----------------------------------------------------------------------------
  and incl    460.00 466.00      6.00   0.53  26.00 0.37    -    - Volcanic 
----------------------------------------------------------------------------
              520.00 528.00      8.00   1.35  24.90 0.07 0.65    - Volcanic 
----------------------------------------------------------------------------
  incl        522.00 526.00      4.00   2.57  24.90 0.09 0.66    - Volcanic 
----------------------------------------------------------------------------
              603.00 607.00      4.00   7.73   6.80    -    - 0.13 Porphyry 
----------------------------------------------------------------------------
              613.10 619.00      5.90   0.33  16.00 0.08 0.10 0.02 Porphyry 
----------------------------------------------------------------------------
              630.00 632.00      2.00   7.44  14.50 0.24    -    - Porphyry 
----------------------------------------------------------------------------
(i) Interval includes 5.61m of un-sampled core which was given a zero grade.



True thickness of the zones of mineralization is unknown at present. An updated
map showing the location of NB96-24 and the other drill holes assayed to date on
the Barney Lake Shear Corridor is available on our web site at
www.terraxminerals.com. 


Core sampling included insertion of certified standards and blanks. Samples were
prepared at ALS Chemex's laboratory in Yellowknife and shipped to their
Vancouver facility for gold and ICP analysis. ALS is a certified and accredited
laboratory service. 


The technical information contained in this news release has been approved by
Joseph Campbell, the President of TerraX, who is a Qualified Person as defined
in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." 


The Northbelt gold property encompasses 3,562 hectares on the prolific
Yellowknife belt, 15 km north of the city of Yellowknife, and covers 13 km of
strike on the northern extension of the geology that contained the Giant (7.6
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.


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


Vanguard Shareholder Solutions
604-608-0824 or Toll Free: 1-866-801-0779
ir@vanguardsolutions.ca

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