Geophysical surveys were conducted over five grids distributed on all three of TerraX's Atikokan properties, targeting mineralized lineaments identified last field season. Mineralization on these properties occurs in quartz veins and altered granite. In both cases, gold content appears to be roughly proportional to the amount of pyrite in the rock. Induced Polarization ("IP") surveying is the best method to detect disseminated pyrite, thus IP (or chargeability) anomalies will constitute drill targets. Magnetic surveying was also completed on all five grids in order to provide more information about structures and alteration. Chargeability anomalies occur on all four grids on which IP surveying was conducted, and in all cases they are approximately coincident with surface alteration/mineralization.
On the Blackfly property, where grab samples from the Blackfly Zone assayed up to 167 g/t Au during 2009 fieldwork, a 300 m long by 200 m wide, northeast-striking, chargeability anomaly occurs over the Blackfly Zone. This anomaly is open at both ends, and is coincident with anomalously high resistivity (possibly indicating silicification). In the northeast part of the property, a 1.6 km long by up to 200 m wide, northeast-striking chargeability anomaly was identified. This anomaly is open to the southwest, towards the Blackfly Zone. The chargeability anomaly corresponds to a resistivity high and occurs along an 8 km long airborne magnetic lineament. This lineament contains the Blackfly Zone and an auriferous zone immediately northeast of the Blackfly property, recently drilled by Sparton Resources Inc. Alteration and anomalous gold values were noted on surface along the length of this anomaly during TerraX's 2009 field program.
On the Sunbeam-Pettigrew property, TerraX surveyed a 2 km strike length of the Pettigrew lineament with reconnaissance IP and magnetics, covering a zone which ran up to 10.2 g/t Au during sampling conducted in 2009. Northeast-striking chargeability and coincident resistivity high anomalies occur over at least a 1.4 km strike length.
On the Central Canada property, geophysical surveying covered the main mineralized zone, which returned grab sample values up to 22.9 g/t Au in 2009. Unfortunately, this grid was not entirely surveyed due to poor weather conditions, but two incompletely defined chargeability anomalies were detected. One of these is roughly coincident with the 22.9 g/t Au sample, and one occurs in an area not previously investigated by TerraX.
TerraX regards the results of these surveys as highly encouraging, and plans to begin drilling in late May 2010 on the four grids that were tested with IP surveying. The initial drill program will be comprised of at least 1,500 meters of core drilling on the properties in a series of short holes testing the near-surface chargeability anomalies.
For more information on these properties, including updated graphics and property maps, 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., Vice President Exploration, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
On behalf of the Board of Directors
"JOSEPH CAMPBELL"
Joseph Campbell, P.Geo
President
Contact: Paradox Public Relations
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Phone: 514-341-0408
Toll Free: 1-866-460-0408
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.
