TerraX channel sampling returns 2.0 m @ 2.51 g/t Au on Central Canada property; drilling resumes on Blackfly and Sunbeam-Pettigrew properties, Atikokan, Ontario

TSX-V: TXR
Frankfurt: TX0

VANCOUVER, Jan. 19 /PRNewswire/ - TerraX Minerals Inc. (TSX.V: TXR; Frankfurt: TX0) has received assay results from a channel sampling program undertaken at its Central Canada gold property in Ontario during the fall of 2010.  The current channel sampling program followed up on assay results from prospecting undertaken at Central Canada in early 2010 that returned a grab sample of 39.6 g/t gold.   Highlights from the current program include an interval of 2.0 m @ 2.51 g/t Au, which includes 0.45 m @ 7.5 g/t Au.  The Central Canada property consists of seven claims totaling 3.8 sq km, straddling the southern margin of the Archean Marmion Batholith, in a similar geological environment to the nearby Hammond Reef gold deposit, presently being explored by Osisko Mining Corporation.

One hundred and twenty-three channel samples were collected over a strike length of approximately 120 m, perpendicular to a series of easterly trending quartz-carbonate-pyrite veins and felsic dikes.  Twenty-four samples contained anomalous gold (20 ppb or higher), with a high value of 7.5 g/t Au.  The lowest values were below detection levels.  Four separate anomalous intervals were obtained, namely;

• 2.0 m @ 2.51 g/t Au (including 0.45 m @7.5 g/t Au);
• 12.0 m @ 334 ppb Au;
• 6.2 m @ 325 ppb Au; and
• 2.65 m @ 754 ppb Au. 

Based on these results and historical information, TerraX is designing a drill campaign for Central Canada that will take place as soon as practicable after completion of the drilling currently underway at the nearby Blackfly and Sunbeam-Pettigrew properties.

TerraX has recently resumed drilling at Blackfly property following the Christmas break.  Four holes totaling more than 800 m were drilled prior to the break in the southern part of the property. Here previous drilling by TerraX in 2010 encountered mineralized intersections including 8.26 m @ 0.94 g/t Au and 1.07 m @ 15.1 g/t Au on two separate northeast-trending vein systems.  A fifth hole is currently being drilled in this area, to be followed by two holes in the northern part of the property, where previous drilling produced an intersection of 1.47 m @ 2.7 g/t Au.  On completion of drilling at Blackfly, TerraX plans to drill ten holes (approximately 1500 m) on four different and distinct target areas of the nearby Sunbeam-Pettigrew property, as more fully outlined in our news release of October 28, 2010.

Samples were delivered by Terrax personnel to the Activation Laboratories facility in Thunder Bay. Actlabs is an ISO/IEC 17025 accredited analytical laboratory. Analysis was by fire assay with AA finish. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards.

For more information on TerraX's properties, please visit the company's website at www.terraxminerals.com. 

The technical information contained in this news release has been verified by Dr. Tom Setterfield, P.Geo., who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."

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-V: 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. The Brett Resources Technical Report on this project 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 recently optioned the ~43 sq km Stewart property in the Burin Peninsula, 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. 

On behalf of the Board of Directors

"JOSEPH CAMPBELL"

Joseph Campbell, P.Geo
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.

SOURCE TerraX Minerals Inc.