TerraX Announces Nomination of Laurie Gaborit as a Director at Annual and Special Meeting of Shareholders

Ms. Gaborit has over 30 years of combined work experience in mineral exploration and investor relations and corporate communications.  Most recently, she was Vice-President Investor Relations at Detour Gold Corp. She was a key member of the management team from the company’s initial public offering in 2007 to its successful transformation from exploration company to intermediate gold producer within a seven-year period, with a commensurate increase in market capitalization from $120 million to over $3 billion during that time period.

Prior to joining Detour Gold, she provided strategic investor relations and corporate communications services to a number of junior mining companies, including High River Gold Mines and Rio Narcea Gold Mines.  Ms. Gaborit started her career as a geologist for Aur Resources, Cambior and Romarco Minerals. She holds a Bachelor of Science in Geology (Honours).

In 2019, she was the recipient of the CIRI Belle Mulligan Award for leadership in investor relations. She currently serves on the Board of Monarch Gold Corporation and the Canadian Investor Relations Institute (CIRI).

Gerald Panneton, Executive Chairman, stated: “On behalf of the Terrax Board of Directors, I am very pleased to nominate Ms. Gaborit for election as a Director at the Meeting and we look forward to welcome her to the Board. Her experience in the global mining industry as a seasoned investor relations professional with a strong technical background will be a valuable addition to the Board as we increase our exploration efforts to grow our flagship Yellowknife City gold project from the current 735,000 Inferred ounces announced recently.”

About TerraX

Through a series of acquisitions, TerraX owns a 100% interest in the Yellowknife City Gold ("YCG") Project, encompassing 783 sq km of contiguous land within 12 kilometers of the city of Yellowknife.  The Project is located in the prolific Yellowknife greenstone belt, covering 70 kilometers of strike length along the main mineralized break in proximity to the former high-grade Con and Giant gold mines which have produced over 14 million ounces of gold. The YCG Project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.

On November 4, 2019, TerraX announced an Inferred mineral resource of 735,000 ounces of gold for the YCG Project, consisting of a pit constrained Inferred mineral resource of 11.6 million tonnes averaging 1.4 g/t for 523,000 ounces of contained gold and an underground Inferred mineral resource of 1.2 million tonnes averaging 5.7 g/t for 212,000 ounces of contained gold.

For more information on the YCG project, please visit our web site at www.terraxminerals.com.

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). Forward-looking statements in this news release include, but are not limited to, statements regarding the expected election of Laurie Gaborit to the Company’s Board of Directors which remains subject to a shareholder vote on December 17, 2019. 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, events or otherwise.

Cautionary Statement Regarding Estimates of Mineral Resources

The mineral resource estimates reported in this news release have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States‘ securities laws. The CIM Definition Standards differ from the definitions in the United States Securities and Exchange Commission (the "SEC") Guide 7 (the "SEC Guide 7"). The terms "mineral resource", "Measured mineral resource", "Indicated mineral resource" and "Inferred mineral resource" are defined in NI 43-101 and recognized by Canadian securities laws but are not defined terms under SEC Guide 7 or recognized under U.S. securities laws. Readers are cautioned not to assume that any part or all of mineral deposits in these categories will ever be upgraded to mineral reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "Inferred mineral resource" will ever by upgraded to a higher category. Under Canadian securities laws, estimates of "Inferred 

mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Readers are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.

Mineral resources are not mineral reserves, and do not have demonstrated economic viability, but do have reasonable prospects for economic extraction. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Measured and Indicated mineral resources are sufficiently well defined to allow geological and grade continuity to be reasonably assumed and permit the application of technical and economic parameters in assessing the economic viability of the resource. Inferred mineral resources are estimated on limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters to be applied. Inferred mineral resources are too speculative geologically to have economic considerations applied to them to enable them to be categorized as mineral reserves. Under Canadian rules, estimates of Inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.