The two NQ diamond drill holes (ZG12-01 and ZG 12-02) were drilled to test separate sedimentary horizons with gold mineralization potential and to validate gold mineralization intersected in previous drilling by Chapleau Resources Inc. in 2003. Historical data obtained from the Government of British Columbia’s Geological Survey Branch Assessment Reports Maps show Chapleau’s hole intersected 0.48 g/t gold over 17.5m in altered sediments from 7.5m to 25m.

Hole ZG12-02 intersected 2.92 g/t gold over 2 m within a broader interval of 0.50 g/t gold over 22.38m from a depth of 2.62 m (bedrock) down to 25 m.  Additional anomalous gold mineralization was intersected sporadically in the 188 m long hole including a 9 m section with a weighted average grade of 0.38 g/t gold from 158 to 167 m (See drill result summary in Table I below).  The gold mineralization appears to be associated with quartz veining and/or flooding in folded and sheared siltstones and argillites.  The sediments are variably silicified and altered with sericite, chlorite and iron-carbonate.

 Hole ZG12-01 was drilled between 2 widely spaced holes drilled by Chapleau Resources in 2003 (Z-03-13, Z-03-14). The 96 m hole intersected quartz, sericite, hematite and iron carbonate altered sediments with sporadic narrow intervals of anomalous gold mineralization up to 0.35 g/t over 1m.  Although gold mineralization was limited, the geological information and results from ZG12-01 will be further evaluated and compared to those of ZG12-02 to help identify factors that control gold mineralization.

Sections of the holes are being prepared and will be placed on the company’s web site in the coming weeks.

Company President and CEO, John Keating, comments, “This initial gold intersection is very encouraging as it occurs proximal to a fold structure recently mapped at surface in the fall of 2012.  Gold deposits often occur along fold structures.  The strike of the folding is also coincidental with the 8 km trend in gold mineralization from surface sampling.  These results will allow us to assess possible factors that influence gold mineralization and help prioritize additional targets to test along strike this year.”

Thorough quality assurance and quality control (QA/QC) protocols were utilized on the Zinger project, including the use of duplicate, blank and standard samples.  Drill core and samples were securely stored and processed on site under the supervision of the company field geologist.  Core samples were shipped directly to Acme Analytical Laboratories (Vancouver) Ltd. (“Acmelabs”) for crushing and fire assay for gold analysis.  AcmeLabs is an independent certified laboratory and preparation facility which maintains an International Standards Organization (ISO) 9001 Model for Quality Assurance and ISO/IEC 17025 General Requirements for the Competence of Testing and Calibration Laboratories.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects).    Mr. Keating is the President, CEO and a Director of PJX.  PJX is pleased to announce that it has closed its non-brokered private placement offering (the “Offering”), previously announced on December 19, 2012.

Close of Flow-Through Private Placement

PJX is also pleased to announce that it has closed its non-brokered private placement offering (the “Offering”), previously announced on December 19, 2012.

Pursuant to the Offering, 750,000 units (the “Units”) have been placed at a price of $0.20 per Unit for total gross proceeds of $150,000. Each Unit consists of one flow-through common share of the Company (each, a “FT Share”) and one common share purchase warrant of the Company (each, a “Warrant”), with each whole Warrant entitling the holder to acquire an additional common share of the Company at a price of $0.25 per share for a period of 24 months. Each FT Share and Warrant is designated as a “flow-through share” for the purposes of the Income Tax Act (Canada) (the “Tax Act”).

No finders’ fees were paid in connection with the Offering.   The securities issued in connection with the Offering will be subject to a statutory four-month hold period expiring on December 27, 2014. Final acceptance of the Offering by the TSX Venture Exchange was received on December 28, 2012.

The proceeds from the Offering will be used to incur exploration expenditures on the Cranbrook, British Columbia Properties.  Such exploration expenditures will constitute “Canadian exploration expenses” and “flow through mining expenditures” as defined in the Tax Act which can be renounced to purchasers of the Units for the 2012 taxation year.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

 FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205

info@pjxresources.com

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.

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “appears to”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual 

results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Table I

Summary of selected drill hole results ZG12-02

In aggregate, and in accordance with the policies of the TSX Venture Exchange, $82,954 brokerage commissions and 507,360 brokers’ warrants were paid to Union Securities Ltd., Canaccord Genuity Corp., PI Financial Corp., and East-West Trade Partners Inc.

The proceeds from the issuance of the Flow-Through Units shall be used to fund exploration expenditures on the Company’s Canadian mineral projects and will qualify as Canadian exploration expenses (as defined in the Income Tax Act). The Company intends to use the net proceeds of the offering for expenditures on the Cranbrook, British Columbia Properties and for general working capital.

“This financing will allow PJX to test new, large target areas for gold and other metals. Many of these targets were identified by compiling historical work with new mapping and modern airborne technologies. We expect that more targets will be identified as we continue to focus our exploration on areas with the greatest potential for discovery.“ states company President and CEO John Keating.

Exploration Update

Eddy Property

Multiple target areas with gold and base metal potential on the Eddy property will be the first to be tested by drilling this fall. These large targets were identified by an airborne geophysical survey and occur in areas with historical surface showings of gold, copper, lead, zinc and silver. The new targets have never been tested and do not occur at surface.

Zinger Property

Gold targets on the Zinger property are also planned to be drilled this fall. Grab samples of rock at surface have returned gold values ranging from anomalous to up to 39 g/t along a 4.5 kilometre trend on the property. An airborne geophysical survey has identified areas with greater resistivity near surface that correlate with altered zones containing gold. Modeling of the geophysical data suggests that the resistive zones increase in size at depths below 300m. Drilling will test potential for gold within the altered zones and the geophysical anomaly at depth.

Dewdney Trail Property

Exploration on the Dewdney Trail properties has identified target areas with potential to host large sediment-hosted gold deposits. Mapping in the M1 area this summer has defined a structural warping in the sediments that is associated with areas having the most visible gold and grades up to 15 g/t in grab samples. Similar mapping in the Lewis Creek area has better delineated a large structural fold that occurs with a 2.5 km long gold in soil trend. Additional soil sampling and exploration work will be done this fall to define targets for future trenching and/or drilling.

Vine Property

The Vine Property has an historical resource estimate of 1.3 million tonnes grading 2.2 grams per tonne gold, 36.3 grams per tonne silver, 3.12 per cent lead, 3.12 per cent zinc and 0.11 per cent copper. The resource estimate is from exploration work done in the early 1990’s and was not prepared using the resource categorizations set out in NI 43-101. No other drilling has been done since on the resource that remains open and has potential to continue to depth and along strike. The historical drill data has been digitized. Computer modeling of the drill holes will be used to define drill targets to expand existing mineralized zones on strike and at depth.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan,

Chief Financial Officer

(416) 799-9205

info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

The private placement, and any modifications to it, are subject to compliance with applicable securities laws and to receipt of the approval of the TSX Venture Exchange. The Company may pay finders’ fees in accordance with the policies of the TSX Venture Exchange. The proceeds from the issuance of the Flow-Through Units shall be used to fund exploration expenditures on the Company’s Canadian mineral projects and will qualify as Canadian exploration expenses (as defined in the Income Tax Act). The Company intends to use the net proceeds of the offering for expenditures on the Cranbrook, British Columbia Properties and for general working capital.

The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.

Exploration Update

“This is an exciting time for PJX as we prepare to test for the first time newly discovered targets that could be the source of gold found in local creeks. The new large target areas were only identifiable after compiling historical work with new mapping and modern airborne and other exploration technologies. It has been over 140 years since gold was first discovered in creeks around Cranbrook. Testing of these new targets may validate the gold potential of the local mountains that prospectors have talked about since 1864.” states company President and CEO John Keating.

Multiple target areas with gold and base metal potential on the Eddy property will be the first to be tested by drilling this fall. Mapping and exploration on the Zinger and Dewdney Trail properties have identified target areas with potential to host large sediment-hosted gold deposits. Results of this and additional work will be used to further define the targets for trenching and/or drilling. Historical drill data on the Vine occurrence has been digitized. Computer modeling of the drill holes will be used to define drill targets to expand existing mineralized zones on strike and at depth. Additional exploration is also planned to define targets for testing on other parts of the Cranbrook properties.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer

(416) 799-9205

info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

In November 2011, Geotech was contracted to fly a 690 km VTEM airborne geophysical survey over the Eddy Property. Recent processing of the electro-magnetic (EM) data has identified 4 large conductivity anomaly targets for drill testing. These new targets are close to roads and have never been drilled. A map of the targets is available for viewing on the company web site at http://pjxresources.com/wp-content/uploads/2012/05/eddy-property-b-field-newmap.jpg.

Company President and CEO, John Keating, comments, “The geophysical targets discovered on the Eddy Property are impressive and located in a geological environment that could host a significant gold or base metal deposit.”

Three of the targets have EM conductivity responses without a Mag signature. This type of EM response could be related to graphite in sedimentary rocks or may be related to areas of more intense clay alteration associated with porphyry gold and/or copper deposits. The porphyry potential is also supported by the presence of:

- an area 3 kilometres in diameter that has localized argillic, sericite and/or iron-carbonate alteration in bedrock,

- iron-oxide breccias occurring along major fault structures, and

- historical showings with anomalous gold or copper associated with quartz breccias.

The fourth target has coincidental Mag and EM conductivity responses. This combination of responses supports the potential for a massive sulphide deposit similar to the Sullivan Mine. The Sullivan Mine contained over 120 million tonnes of lead-zinc-silver ore. It was mined for over 90 years by Teck Cominco prior to being closed in 2001. PJX’s fourth target is located 25 kilometres south of the Sullivan mine in a similar geological environment.

Other Priority Targets for PJX on the Cranbrook Properties

PJX Resources’ primary focus is the Dewdney Trail Property; where 3 target areas have been identified to date with large gold deposit potential. PJX plans to selectively test the most promising targets on the Cranbrook Properties with trenching and drilling during 2012, and continue to cost effectively develop new targets for future testing.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

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.

The Vine Property has a deposit of gold, silver, lead, zinc and copper mineralization that was first discovered in the late 1970’s by Cominco. The last significant drilling done on the Vine was between 1989 and 1991. Low metal prices in the 1990’s curtailed any further exploration and the land position became fragmented.

Company President and CEO, John Keating, comments, “This is a win-win scenario for PJX Resources and Klondike Gold. This is the first time in over 20 years that the Vine land position has been consolidated into a size that can be properly explored. Metal prices today are far more favourable than they were when the Vine was last explored. Gold is trading over US$ 1600 an ounce, as compared to US$ 360 in 1991. Silver averaged about US$ 4 per ounce in 1991 and is now trading over US$ 30 an ounce. Zinc, lead and copper prices are also much stronger today. This larger land package combined with stronger metal prices makes a discovery on strike or at depth with the Vine more favourable for development”

Under the terms of the Vine Extension Option Agreement, PJX can earn a 50% interest in KG’s 6,300 ha property by completing $1.5 million in work, with at least $1 million of the $1.5 million spent on drilling, and make share payments to a maximum total of 200,000 common shares over a 5 year period. Once PJX has exercised the option the companies will form a Joint Venture (JV – 50% PJX and 50% KG) with PJX as operator. If either company decides not to participate in the JV then their interest is diluted on a pro-rata basis to a 2% NSR with the other company having the right to purchase 1⁄2 of the 2% NSR for $2 million. The issuance of shares is subject to approval by the TSX-Venture Exchange.

The road-accessible Vine Property is located 11 kilometres south of Cranbrook, British Columbia. The following summary of the Vine occurrence is quoted from the B.C Ministry of Energy Mines, and Petroleum Resources’ Minfile Record Summary (082GSW050).

“The Vine 1 occurrence is a shear-related vein system in Middle Aldridge Formation argillites and quartzites. Trenching and drilling has exposed massive and disseminated sulphides (pyrite, sphalerite and galena) within a sheared vein system striking about 120 degrees and dipping 45 to 85 degrees to the northwest. Stringer and disseminated sulphides are conspicuous in the shear zone for several metres on either side of the
massive sulphides. The mineralized Vine structure has been traced for over 1000 metres along strike and a downdip extension of at least 700 metres.

Proven and probable reserves for the Vine property are 1,300,000 tonnes grading 2.2 grams per tonne gold, 36.3 grams per tonne silver, 3.12 per cent lead, 3.12 per cent zinc and 0.11 per cent copper (MDAP – Kokanee Exploration Ltd. Prospectus (1990)).”

Kokanee Exploration Ltd.’s resource estimate reported above is an historical estimate and was not prepared using the resources categorizations set out in NI 43-101. The Company is uncertain as to the relevance or reliability of the historical estimate.

PJX is fortunate enough to have access to the drill core and drill logs from the over 50 holes drilled on the Vine deposit. The company has recently had the drill data digitized for computer modelling. The data will be used to assess potential for more mineralization on strike and at depth. The results of this work will be used to identify targets for drilling the Vine vein.

The structure hosting the Vine vein is projected to strike on to the newly optioned property. PJX plans to fly an airborne survey over the property to identify potential Vine style and Sullivan deposit targets. The geological environment for the Vine Property and area is also favourable for hosting a Sullivan Mine type of deposit. The Sullivan Mine is located about 30 km to the north of the property. Teck Cominco closed the mine in 2001 after producing over 120 million tonnes of silver-lead-zinc ore during its 90 year mine life.

PJX’s Potential for Discoveries

PJX Resources’ primary focus is the Dewdney Trail Property; where 3 target areas have been identified to date with large gold deposit potential. In addition, PJX has identified a significant new target area on the Zinger Property that may have the potential for multiple gold deposits. Targets are being developed on the Eddy Property, and PJX can now identify targets on the Vine Property.

The key to deposit discovery is often in the number of quality targets that are developed for testing. In a short period of time, PJX has identified new targets on multiple properties by using an estimated $8 million in exploration work that was done by others in the past on our Cranbrook Properties. The targets are being discovered by combining historical data with fresh thinking and the latest technologies, such as new airborne geophysical systems or computer modelling. PJX plans to selectively test the most promising targets with trenching and drilling during 2012, and continue to cost effectively develop new targets for future testing.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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.

Gold Geochem and Mapping

Bedrock grab samples have identified gold mineralization over an area 8 km long and 2 km wide on the property. Since 2008, approximately 1380 grab samples of bedrock have been collected and analyzed. Approximately 750 samples reported analyses above 20 ppb gold including:

- 86 samples ranging from (0.5g/t) to (1.0 g/t)

- 101 samples ranging from (1.0g/t) to (5.0 g/t)

- 37 samples were equal to or greater than (5.0g/t)

- The highest value reported is (39.6g/t) gold.

The results from the geochem and mapping program indicate that anomalous gold mineralization appears to occur along bedding planes with higher concentrations of gold in veins and zones perpendicular to or at oblique angles to bedding within quartzites.

Geophysics and Gold Mineralization

In November 2011 Geotech Ltd. completed a detailed 340 kilometre electromagnetic and magnetic airborne geophysical survey over the entire mineralized area on the Zinger Property.

The electro-magnetic data has identified a large resistive zone at depth that is coincident with and outlines the majority of the gold mineralization. This zone may be an intrusive or a large area of more intense silicification and alteration associated with gold mineralization. An Airborne Conductivity Map presenting this data can be seen at: http://pjxresources.com/wp-content/uploads/2011/07/120229-zinger-c4042-res-outline-au.jpg

In addition, the magnetic data has identified a 5 kilometre long magnetic trend that is coincident with some of the highest grade gold analyses in rock. An Airborne Magnetic Map presenting this data can be seen at: http://pjxresources.com/wp-content/uploads/2011/07/120229-zinger-hd-mag-outline-au.jpg

2012 Exploration Program

Based on these results, PJX’s 2012 summer exploration program will focus on the highest concentrations of gold and best geophysical features which will include further detailed mapping and a planned drilling program.

The road-accessible Zinger Property is located 24 km west of Cranbrook, British Columbia and covers 12,400 hectares over a 20 km strike length.

Company President and CEO, John Keating, comments, “PJX is very encouraged with the development of the Zinger target areas. This is the largest virtually untested gold trend that I have seen in my years of exploration. One explanation for why a gold deposit has not been found to date is because the deposit may not come to surface. The ability of airborne geophysics to explore at depth helps narrow our search and may be the key to unlocking the location of potential gold deposits.”

The Zinger target areas, combined with the large gold targets developing on the Dewdney Trail Property, increase the company’s potential for a discovery.

Eddy Property

PJX has flown an airborne geophysical survey over the 14,600 hectare Eddy Property in the Cranbrook area. This large property has gold and copper potential. The data is being compiled and results from this work will be announced in the near future.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan,
Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

Surface mapping and prospecting on the Dewdney Trail Property have identified areas with anomalous gold mineralization along a 13 kilometre trend of quartz-sericite-carbonate altered quartzite and interbedded argillites.

Trenching and trail building show that the quartzite and interbedded argillite unit can be over 250 metres in true width. Areas in the unit with more intense quartz-sericite-carbonate alteration and quartz veining consistently host anomalous gold mineralization ranging from 10ppb to over 10 g/t gold. There are at least three separate vein/fracture orientations. Two are orientated perpendicular to bedding and dipping shallowly to the north or sub-vertically to the south. One less obvious vein/fracture set is sub-parallel to bedding. Visible gold can be found locally in quartz veins and along fracture surfaces in the quartzite beds.

Rock (outcrop) exposure is limited at surface, due in part, to the oxidized and broken nature of the quartzite unit near surface. Four holes (totalling 796m) were drilled in the M1 target area in order to better assess the gold potential of the vein/fracture sets that have varying orientations. The drilling confirmed that anomalous gold mineralization is most often associated with the more altered, veined and fractured sections of the interbedded quartzites and argillites. The altered and veined zones in the drill core consistently contain anomalous gold ranging from 10 ppb up to 600 ppb. This low grade mineralization supports the potential for SHV deposits where a halo of anomalous gold mineralization can occur in rock units hosting ore deposits. Additional exploration is required along strike and/or at depth to help determine which direction may be most favourable for hosting a deposit.

The M1 target area is a magnetic anomaly approximately 600m wide by over 1km in strike length. Drilling was done on one part of the target area that was approximately 100m wide by 250m along strike. The M1 target area is one of over twenty geophysical (magnetic or conductivity) target areas along the over 13 kilometres of favourable geology on the Dewdney Trail Property.

Compilation of historical and recent exploration work has identified additional promising areas. SHV deposits often occur in argillite rock units proximal to the axis of folds where the ground has been more intensely fractured to allow ore mineralizing fluids to circulate and deposit gold through the rock. Mapping has identified the approximate location of such a fold axis. Compilation of rock and soil sampling data has identified gold

targets along the fold axis in both the quartzite and argillite rock units that may host an SHV deposit. For example, the interpreted fold axis in the Lewis Creek area has anomalous gold in the soils for more than 1.5 kilometres along the interpreted fold axis. This anomaly remains open to the north-west.

Gold is also anomalous in soils over a large area (2 km X 2km) in the Tackle Creek drainage (see map at http://pjxresources.com/wp-content/uploads/2011/07/dewdney-trail-map.jpg). The underlying rocks are argillites, and carbonaceous phyllites, which are often associated with SHV gold deposits. Of additional interest in the Tackle Creek area is the presence of syenite dyke rocks hosting gold. Six grab samples previously taken of syenite rocks (with and without quartz veins) ranged from 109 ppb to 1953 ppb (1.953 g/t) gold. This style of mineralization supports the potential for an intrusive, possible porphyry, hosted gold deposit.

Compilation of historical and recent work is on-going to identify additional gold targets. The large Lewis Creek, M1, and Tackle Creek targets, along with other target areas, will be the focus of further exploration on the Dewdney Trail Property in 2012.

Dr. Paul Klipfel, of Mineral Resources Inc, has reviewed the Dewdney Trail 43-101 report and has concluded that “the gold mineralization style and geological characteristics of the Dewdney Trail property are consistent with features that define SHV deposits globally and thereby strongly support the potential of the area to host an SHV deposit”. With over 30 years of experience in mineral exploration, Dr. Klipfel is recognized as a specialist in structure, alteration and their relation to gold mineralization and considered to be an expert in SHV deposits. SHV deposits are some of the largest gold deposits in the world, such as the 20 million ounce Sukhoi-Log gold deposit in Russia and the over 80 million ounce Muruntau gold deposit in Uzbekistan.

President and CEO, John Keating, comments, “We are looking forward to a very successful 2012 exploration season. Our recent results confirm that gold has been introduced into the rocks over wide areas on the Dewdney Trail Property. Our enhanced understanding of the factors controlling the gold mineralization will help focus exploration activities to increase the potential to discover a gold deposit.”

QUALITY ASSURANCE – QUALITY CONTROL

Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the Dewdney Trail project including duplicate, blank and standard samples for all samples. NQ sized core samples were split and submitted directly to Acme Labs in Vancouver, B.C., for preparation and analysis.

The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a Director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan,
Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Since PJX commenced trading on September 14, 2011, the Company has completed more than 4.5 kilometres (km) of trail and over 500 metres (m) of trenching on 3 of the 20 target areas on the Dewdney Trail Property. Work on the M1 target area has discovered that the quartzite unit with interbedded argillite appears to be over 250m in true width. The quartzite is variably altered with sericite, iron-carbonate and iron-oxide mineralization. Multiple episodes of cross-cutting quartz veining and/or flooding are predominantly evident in the quartzite part of the unit.

Trail building and trenching intersected limited rock (outcrop) exposure at surface, due in part to the oxidized and broken nature of the quartzite unit near surface. PJX drilled 4 holes (totaling 750 m) to test the quartzite unit at depth in one part of the M1 target area. This drilling was done to obtain a more representative sample of the unit and to help identify any structural controls that may relate to mineralization. The results of this work will be used to plan the most efficient way to evaluate the entire M1 target area and other target areas on the property. The M1 target area is approximately 800m wide by over 1km in strike length. Drilling was done on one small part of the target area that was approximately 100m by 200m.

SHV gold deposits are often large tonnage with low grade. The grade can vary within the deposit. For example, the 20 million ounce Sukhoi Log gold deposit in Russia has higher grade portions of the deposit that average 4 to 9 g/t gold. However, most of the deposit is lower in grade resulting in a reported average grade of 2.5 to 2.7 g/t gold, using a 1.0g/t (1000 ppb) cut off. In addition, the entire deposit is surrounded by disseminated pyrite mineralization with an even lower grade below 1000ppb gold. This gradation in gold grade may be a useful tool to help guide exploration activities to discover an SHV gold deposit on the Dewdney Trail property.

While the trenching and drilling program focused on only 3 of the over 20 target areas on the Dewdney Trail property, approximately 60% of the remaining target areas have been preliminarily assessed by prospecting and mapping. More than 400 rock grab samples have been collected and submitted for

analysis. Analytical results of all the prospecting samples, trench samples and drill core are expected to be received over the coming months. The results will be compiled with existing geological mapping, surface sampling and geophysics to identify and prioritize targets for trenching and drilling on the Dewdney Trail property in 2012.

With regard to PJX’s other gold properties in the Cranbrook area, Geotech Ltd. recently completed more than 1100 kilometres of VTEM airborne magnetic and electromagnetic surveys on the properties. Results of this and other work on these properties will also be announced in the New Year.

John Keating, President and CEO, comments, “The work that we’ve been able to undertake in the very short period of time since we commenced trading on September 14, 2011 is remarkable. Our understanding of the gold potential on the large Dewdney Trail Property will be greatly enhanced once we are able to compile the results of this initial exploration program over the coming months. We would like to thank the excellent team of consulting geologists, prospectors and contractors in the Cranbrook area for a job well done.”

PJX completed a $2.5 million IPO financing and listing on the TSX Venture Exchange in September 2011. Previous operators spent over $3 million to discover numerous gold showings across our large properties in Cranbrook, B.C. PJX is working to bring the many showings to the next stage of exploration to determine if any of them could become a gold deposit. With the work completed to date, PJX has completed most of its planned Phase I exploration program and 30% of its Phase II exploration program as outlined in the Company’s NI 43-101 Technical Report (available on the Company’s web site). The Company is fully funded to complete both Phase I and Phase II programs.

The foregoing geological disclosure has been reviewed by Mr. John Keating, P. Geo (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a director of PJX.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan
Chief Financial Officer
(416) 799-9205
info@pjxresources.com
www.pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that

may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.