TerraX agrees to Private Placement of 1,350,000 shares at $0.30 per share
TERRAX MINERALS INC.
1066 West Hasting St, 23rd Floor Vancouver, B.C.
V6C 3G2
January 11, 2011 TSX-V: TXR Frankfurt: TX0
NEWS RELEASE
TerraX agrees to Private Placement of 1,350,000 shares at $0.30 per share
TerraX Minerals Inc. has agreed to a non-brokered private placement of 1,350,000 common shares at a price of $0.30 per share for gross proceeds of $405,000. A finders fee will be payable with respect to this placement, which is subject to acceptance for filing by the TSX Venture Exchange.
About TerraX Minerals
TerraX Minerals Inc. is one of the major landholders of prospective ground in the burgeoning Marmion Batholith gold district near Atikokan, Ontario, host to Osisko Mining Corporation's (TSX:OSK) Hammond Reef gold deposit which contains a National Instrument 43-101-compliant inferred resource of 259.4 million tonnes at 0.8 grams per tonne Au (approximately 6.7 million ounces of gold). The Brett Resources Technical Report on this deposit is available on SEDAR. TerraX is actively exploring three wholly-owned gold exploration projects, the Sunbeam-Pettigrew, Blackfly and Central Canada properties, all of which are located within 20 km of the town of Atikokan, 180 km west of Thunder Bay, and are within 19 km of the Hammond Reef gold deposit.
TerraX also recently conducted an initial work program on its ~50.5 sq km Stewart gold-copper property in the Burin Peninsula of Newfoundland, which is part of the Avalon terrane, a geologic structure which can be traced from eastern Newfoundland through Nova Scotia and New Brunswick into New England, the Carolinas and northern Georgia. The Avalon terrane hosts several epithermal/porphyry gold-copper deposits, including the past-producing Hope Brook deposit, presently being explored by Castillian Resources Corp.
On behalf of the Board of Directors "JOSEPH CAMPBELL"
Joseph Campbell, P.Geo President Contact: Paradox Public Relations Phone: 514-341-0408 Toll Free: 1-866-460-0408
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.