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TerraX
Minerals Inc.
TSXV:TXR 25 cents
TRXXF: OTCPink
TXO: Frankfurt

EQUITY RESEARCH REPORT

STOCKHOUSE ADVERTORIAL | DANNY DEADLOCK [MICROCAP EQUITY ANALYST]

August 31, 2015

WWW.TERRAXMINERALS.COM

Investment Overview
As the gold sector weakens this summer
and the TSX Venture Exchange endures
its fourth year of selling pressure, the
junior gold mining and exploration
companies with the strongest
potential begin to stand out from the
crowd. These are the companies that
have been able to finance large amounts
of exploration dollars, and have done so
with reputable institutional investors
and money managers.
Hundreds of resource exploration
companies on the TSXV are struggling
to keep their lights on while others like
TerraX have been able to raise millions
of dollars with professional money
managers and investors.
The low valuations on the TSXV are both
a blessing and a curse. For companies
unable to raise capital it is a curse. For
those investors with cash looking for
new opportunities, this market can be
a blessing as valuations appear far more
attractive than they have been for years.

In the current commodity environment,

gold exploration and production
companies (both large and small) know
that low grade will be of little interest
or value to existing shareholders or new
investors. It is high grade that will hold
and attract value and investment. This
was clearly evidenced by TXRs ability to
raise $5 million this summer (under very
attractive terms) while investors were
exiting big names like Barrick Gold who
are drowning in debt, and unlike the
juniors, have little flexibility.
TerraX is in the enviable position of being
debt free, well-funded, owning a large
(higher grade) gold exploration camp
(with excellent access to critical
infrastructure) and neighboring what
were two of the most lucrative gold mines
in Canada the Northwest Territories Con
Mine and Giant Mine.
TerraX controls one of the six major
high-grade gold camps in Canada - and
the least explored.

Key Statistics
Price at Date of Report: CAD $0.25
52wk Range: CAD $0.23 to $0.45
Shares Outstanding (basic):
67.1 Million
TSXV Market Cap at Date of Report:
CAD $17 Million
Avg Daily Trading Volume:
Past Month: 12k
Past 3 Months: 22k
Years in Business: Eight
Years as a Public Company: Seven
Mgmt & Staff Ownership: 14.8 %
Institutional Ownership: > 29 %

Industry: Gold Exploration

Region: Canada (NWT)

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Key Points
The TerraX Yellowknife City Gold
Project (YCG) lies on the prolific
Yellowknife greenstone belt and covers
15 km of strike length on the northern
extension of the shear system that hosts
the past producing high-grade Con and
Giant gold mines. These two world class
gold mines produced 14.2 Million ounces
over 60 years at avg grades near 16 g/t.
Close to vital infrastructure,
including transportation, service
providers, power and skilled tradespeople.
All season road accessible and
within 15km of Yellowknife in
Canadas Northwest Territories one of the top mining-friendly
districts in North America.
Raised $5.2 Million in June 2015
including $2.5 Million from Osisko
Gold Royalties recognized as a
leader in identifying high quality
gold projects.

Summer drilling underway and

along with ongoing exploration,
should provide significant newsflow well into the second half of
2015.

Drilling, sampling and trenching

(this past year and historical) shows
a high grade gold project with
significant growth potential and
economic promise.

WORLD CLASS DISTRICT POTENTIAL

The overall strategy of TerraX is the

discovery of a +5 million ounce gold
deposit similar to the neighboring
Con Mine (6.1 million ounces) and
the Giant Mine (8.1 million ounces).
Exploration in 2015 will focus on a
3km x 5km Core Gold Area.

Geographic Importance
TerraX not only controls 99 sq.km of a
very promising gold camp but their
close proximity to the city of
Yellowknife provides them with
numerous advantages over other junior
gold exploration companies.
Ease of access to infrastructure, services
and labor is a huge financial (and
operational) advantage for any mining
company. Rarely can you find
companies with large scale potential
that are this close (< 15km) to a city or
commercial airport.
One of the biggest challenges facing any
mining company is the high costs
associated with remote development.

While TerraX boasts very promising

geology, a company still needs to
demonstrate that they could realistically
(economically) put a project into
production.
YCG goes a long way in alleviating the
risks associated with a projects location.
And the fact that two world class mines
operated for decades in this same
corridor means that TerraX has similar
potential even in a broad range of
commodity prices and economic cycles
that both the Con and Giant mines
experienced over their lifetime.

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SUMMER EXPLORATION
TerraX is working to complete a NI 43-101 Mineral
Resource on their most advanced gold zones,
Crestaurum and Barney. With summer and fall
drilling they are also looking to further develop new
high grade targets that have been identified through
2014 and 2015 field programs and historical drilling.
During this past winter they completed a 6,800
metre drill program with very encouraging results
and in June carried out a field mapping program with
a highly skilled technical team from Osisko. This led
to the identification of at least 20 high priority drill
targets.
With the recent $5.2 million financing they will drill
these targets (along with continued field
exploration) through July, August and September
providing good news flow into Q5/15.
While drilling will focus on the Crestaurum and Barney Zones, they also have strong promise for their newly identified high priority
targets.
Following completion of the 2015 program, TerraX anticipates having over $4 million available for exploration and development
in 2016.

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2014 Exploration Highlights

Drilled 22.42 m @ 6.35 g/t Au, inclusive of 5.16 m @ 18.40 g/t Au, at Barney Shear (the extension of the
shear that hosts the Con and Giant Mines)
Drilled 2.85 m @ 33.60 g/t Au, 3.07 m @ 13.84 g/t Au and 5.10 m @ 7.01 g/t Au near surface at
Crestaurum
Assayed 34.9, 75.8, 346 and 547 g/t Au in grab samples from the new VSB Vein near Crestaurum
Assayed 878 and 712 g/t Au in grab samples from two more new veins near Crestaurum
Assayed up to 141 g/t Au, 445 g/t Ag, 6.32% Mo and 3.01% Cu in different surface samples from the Ryan
Lake area
Defined a 5 km x 3 km "Core Gold Area" of high grade gold mineralization, with multiple gold
bearing vein sets as noted in large mineralized systems worldwide.

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MANAGEMENT
Joseph Campbell, P. Geo - Position: President, CEO and Director
A professional geologist with 34 years of experience in exploration and mining, including roles as Exploration Manager, Mine Manager,
Chief Mine Geologist of various gold and base metal mines, and as Project Manager for advanced mine development projects, both
open pit and underground. Much of his career has been with major mining companies, specifically Noranda and Western Mining
Corporation. In 2002 he co-founded GeoVector Management Inc., a successful geoscientific consulting firm based in Ottawa.
Dr. Tom Setterfield, P. Geo - Position: Vice-President Exploration and Director
Dr. Setterfield has over 34 years of international experience and is considered an expert in IOCG, Epithermal Au and VMS deposit
types. He holds a Ph.D in Geology from Cambridge University (England) and has lived and worked in Australia, Fiji and Canada as well
as on assignment in several other countries. Dr. Setterfield is a co-founder of GeoVector Management and also served as VP
Exploration for Monster Copper Corporation from its incorporation in 2002 to its takeover by Mega Uranium Ltd in 2007.
Stuart W. Rogers - Position: Chief Financial Officer and Director
Stuart Rogers has been involved in the venture capital community in Vancouver since 1987. He is the President of West Oak Capital
Group, Inc., a privately held investment banking firm specializing in the early stage financing of resource projects.
Paul S. Reynolds, P. Geo - Position: Director
Mr. Reynolds is a professional geologist with 28 years of experience in mineral exploration and public company management. His
mineral exploration experience includes projects in the Canadian North, British Columbia, western United States, Bolivia, Argentina
and Guyana.
Osisko Gold Royalties who own 17.2% of the common shares of TerraX are providing Senior Technical staff.

Detailed management and director profiles are available here:

http://www.terraxminerals.com/s/Management.asp

Due Diligence Study:

Has there ever been a share consolidation / reverse split: No
Options Outstanding & Average Strike Price: 5,140,000 @ $0.40/share
Warrants Outstanding & Average Strike Price: 10,960,153 @ $0.45/share
Fully Diluted Shares Outstanding: 83,187,879
Potential proceeds of exercised warrants and options: $6,999,150
If management and director ownership (combined) is below 30%, what percentage of shares outstanding is owned by the CEO
and what percentage of total outstanding options is owned by the CEO: 1.8% of issued shares (1,204,500 shares) are owned by the
CEO and 8.7 % of outstanding options are owned by the CEO.

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Explanation of the companys general policy with respect to the use of stock options for executive compensation. Are stock
options tied to growth in share price or shareholder value, or does the company issue (or plan to issue) options annually as a
percentage of total shares outstanding: The Company does not plan to issue stock options every year to executives. The last option
grant to executives and directors was at $0.75 in March 2014.
Does the company have a Normal Course Issuer Bid in place or any plans for one this year?: No
Have you used the same auditors for the past 2 years (if not, explain why): Yes, since inception in 2007.
Target Milestones or Events over the next 12 to 18 months: 1) Complete 20,000 metres of drilling; 2) Define significant initial
inferred gold resource estimate at Yellowknife City Gold project.
What positions the company for profitable growth?

well-funded
strong industry (Osisko) and institutional (CMP) support
excellent infrastructure and community support from the city of Yellowknife & local First Nations
highly prospective ground in gold mining community with two past producing high grade mines

Where does the companys strongest growth prospects lie? Yellowknife City Gold project (YCG)
Is the company looking seriously at any mergers or acquisitions - If so, is it conditional upon future financing? No
Where do you see the company 3 to 5 years from now? Acquired by a major gold producer and project construction underway;
environmental baseline studies are already underway.

Financial Position and Corporate Structure

Period Ending April 30, 2015
Total Cash and Investments

$1,142,327

Total Current Assets

$1,252,515

Total Assets

$7,872,127

Total Current Liabilities

$356,105

Working Capital

$896,410 **

Long Term Debt

No Debt

Current Market
Capitalization

$17 Million

** With recent financings, TerraX now has approx. $6 Million in Working Capital
List financings completed in the past year (date, price, amount):
October, 2014 - $2,774,425 @ $0.35 per unit. Each unit includes one share and wt , with each full warrant exercisable at $0.50 for a 3
year period
June, 2015 - $5,180,145 of flow through financing comprised of 11,783,100 shares at $0.40 and 1,035,000 flow through units at $0.45
per unit, with each unit consisting of one share and wt , with each full warrant exercisable at $0.57 for a 3 year period. Of this
financing, 6,250,000 FT shares at $0.40 were acquired by Osisko and 5,000,000 shares were acquired by CMP.

PAGE 7 OF 13
In addition, Osisko acquired an option on a 1% NSR at YCG by paying TerraX $1 Million. The option entitles Osisko to purchase a 1per-cent NSR on production from the properties that comprise the YCG by payment of an additional $2-million within three months
following commencement of production
If a financing was completed in the past four months, what date will that stock become free trading:
October 6, 2015 5,000,000 FT shares at $0.40 (CMP Fund)
October 18, 2015 6,250,000 FT shares at $0.40 (Osisko Gold Royalties)
October 19, 2015 1,058,100 FT units at $0.45 and 125,000 FT shares at $0.40
Do you have an estimate of the next capital raise ($ value) and a target time frame: $5 Million projected in late 2016
Are there any outstanding convertible debentures: If so, what is the conversion price/terms and due date: None
Do you foresee any abnormal changes (positive or negative) to operating and admin costs over the previous year: None
Will your current monthly burn rate force a financing within the next six months and/or one year: If so, do you expect this to be
debt, equity, or both: No.
If the company needed to raise significant amounts of capital over the next 12 to 24 months, what management experience or
corporate history would demonstrate that this could be achieved even in a challenging economic environment:

Joe Campbell has experience in identifying high quality projects. Discovered Meliadine in Nunavut and introduced it to Agnico
Eagle Mines Limited. Agnico acquired Meliadine in 2010 and have increased the global resource to over 10 Million ounces
(P&P, M and Inferred) and are permitted for mine construction.
Osisko has acquired a 17.21% interest and an option on an NSR and have demonstrated their support for the Company
through their participation in financings since 2013 and technical assistance.
Management has raised over $10 Million for exploration of the YCG since acquiring it in February 2013.

Is the corporate philosophy to minimize share dilution and only finance in small
increments based upon share price and growth targets or is financing and
growth the primary objective and eventually the share price will reflect fair
value of the corporation (meaning share dilution is not a primary concern at the
time):
Share dilution has always been a concern. Managements strategy since acquiring
YCG in 2013 been to raise only the minimum amount needed to achieve results with
a view to raising money at higher levels based on achieving those results.
What is the general corporate philosophy with respect to share price, share
dilution and growth objectives. How does the company strike a balance taking
into consideration the need to raise capital at times when share price may not accurately reflect the fair value of the corporation:
When the share price is down and market conditions are unfavourable (which has been during the last two years) the company has
limited the amount of funding it will raise, focusing on industry players and specialty gold funds in Europe for the necessary funding.
There have been no brokered financings.

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Due Diligence Study:

Resource Exploration & Development Specific (including Risk Assessment)
Do you currently have a NI 43-101 Resource Report: We expect this to be completed in early 2016 once sufficient data is available for
a robust initial inferred resource estimate
What Resource Category Stage would you be viewed at? Advanced Exploration
and planning phase extensive historical drilling complete with new drill targets
identified and necessary permits received for current drill season.
Within the past 12 months, have any local or regional opposition groups
organized public meetings to vote or speak out against your projects ? If so,
provide dates and further details:
No. We have extensive community support, as indicated by letters of support filed
for our drill permit application in early 2014. Our drill permit was granted in March 2014 and allows us to conduct advanced
exploration, including drilling, for a period of up to 7 years on almost the entire project area.
For the companys most advanced project, have native issues or environmental concerns arisen: None.
For the companys most advanced project, have issues or concerns arisen over metallurgy, overburden removal or strip ratios, or
environment (arsenic levels for example): None
What is the closest distance to rail, a shipping terminal, and the local community that will provide your manpower and services:
We are on the city limits of Yellowknife. It is less than 5 km from the city centre and 8 km from the airport. Our entire property is
within 15 km of Yellowknife. Camps are not required for our work force.
With respect to climate, is there a time of year when work (exploration / development / production) cannot be done economically
this also applies to extreme temperatures or rainfall that affect equipment function or road access: No. We can, and have,
worked all year round see photos on our web site.
What is the core objective of the company; (a) to find and advance a project in hopes of selling prior to full field development (b),
to ultimately develop a field and then sell once operational (c) ultimately develop with the intention of operating long term.
(a) to find and advance a project to feasibility stage in hopes of selling prior to mine development. Joe Campbell has done this before
and has established relationships with mid-tier gold mining companies that have expressed interest in a gold project like ours, in a
mining friendly jurisdiction in Canada, with world class size potential and the benefit of the high grades necessary to weather the
recent volatility in the price of gold.
Is the company currently partnered with any larger companies: Yes. Osisko Gold Royalties owns 17.21 % of TerraX and provides
technical assistance when required.
Have all necessary permits and licenses been obtained for exploration projects including water, drilling, land access,
environment. Yes
What is the total acreage of the companys core project (include % working interest) and the total NET acres of all land under
lease agreement. 100% interest in 99.3 square kms of contiguous land immediately north of Yellowknife covering 15 km of strike on
the same shears that hosted the Con and Giant Mines (14 Million ounces produced over a 60 year mine life at an average grade of 16 g/t
Au).

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If your core exploration project was drilled in the past, why was it
dropped by the previous operator or not developed further why do
you feel it would be different under your control & direction:
Last drilled in the 90s by Giant Mine prior to their closing in early 2000s
due to low gold price. Acquired by Century Mining and put on the shelf
while they focused on re-starting the Sigma-Lamaque mine in Quebec. No
information on the property was available in the public record. Positive
exploration information on the property was hidden within the Giant Mine
archives and was only revealed when TerraX purchased the property from
bankruptcy.
Investors often look for elephant sized high impact discoveries, do any of your projects exhibit this type of discovery potential:
Yes. Yellowknife City Gold Project. We are looking for a +5M oz deposit similar to the two mines already developed in the belt, Con
and Giant.
What is the turnaround time at the labs for analyzing drill core? 3-4 weeks. Commercial lab (ALS-Chemex) is within 5 minute drive
of TerraX core facility in Yellowknife.
What drill programs are planned for the next one to two quarters?

7,000 metres of core drilling commencing July 20th and continuing through to mid-November 2015
7,000 metres of core drilling commencing in January 2016 and continuing through March 2016
Total cost is budgeted at $2.8 Million based on our historic drilling cost of $200 per metre all in, inclusive of assays, geologist,
core splitting etc.

Is the company interested in joint ventures or does it prefer to raise capital on its own and retain existing control:
We have declined numerous offers of joint venture and plan to maintain control of the project. As exploration and holding costs are
manageable, there is no reason to bring in a major company as a partner in the current exploration stage
Within the past year has there been (regional) discovery success by other companies? No. We have been the success story in the
region, with high grade gold drill intercepts, surface samples and the discovery of multiple gold zones.
Are there any mid or large cap mining companies operating in the immediate area if so, provide name(s) and any relevant
information: No. All the mining companies that are operating are further north. Newmont retains its ownership of the Con Mine, but
is inactive other than site rehabilitation.
What is the companys price outlook (1-3 year) for Gold? We feel gold will remain stable around the US$1,100 per ounce level,
fluctuating $100 up or down

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Investor Relations
What efforts are being made (or proposed) to increase visibility of the company to the investment community (retail
investors, brokers, institutions) over the next six to twelve months:

Road shows in Europe and Asia

Road shows in New York, Boston and Chicago
Analyst site visits in September (3rd year; first site visit was in September 2013)
Road shows in Toronto, Montreal, Vancouver
Marketing initiatives through Stockhouse (ongoing contract)
Stockwatch Advertising Programs (ongoing)
Issuer Direct Outreach Programs (partners with NASDAQ and Yahoo Finance) Annual Reports and Company
Spotlight Services for Retail and Institutional Investors (ongoing contract)
Targeted programs for important news with reviewed distribution services

If you do have a full or part-time IR person, are they an employee or on contract. If 3rd party contract, is their company
exclusive to you or does that person have multiple clients: Yes we will have a very active IR department. They are on
contract. Paradox Public Relations in Montreal have represented us for over 5 years. They have other accounts but this is their
main focus, as they are significant investors in TerraX.
Is anyone within the company assigned to monitor public message boards for investor feedback: In addition to the
corporate website, does the company use any aspects of social media such as Facebook, Twitter, etc. Yes, we have
assigned an individual to monitor investor feedback and use Twitter regularly.
Throughout the year, does the company plan corporate road shows to make presentations to institutional investors,
brokerage firms, or investor conferences - explain if applicable: Yes. We have conducted these regularly since the fall of
2013.
What is the approximate dollar amount budgeted for corporate communications for the current year and what was spent
in the previous year: Inclusive of road shows, news dissemination, advertising and consultants, we spent about $360,000 last
year and plan to spend about that amount during the current fiscal year, subject to market conditions.

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CEO Insight / Elevator Pitch

It is unique for a junior mining company to control 100% of a major gold camp
in Canada. We have a large land package covering 99.3 sq.km with over 15km
(to date) of strike length.

We have excellent access to skilled labor in Yellowknife and infrastructure (we

are only 8km to the Yellowknife airport and 2km from the Blue Fish HydroElectric Dam). We also have year-round project access.

Drilling and ground exploration results to date have been very encouraging and
the outlook remains just as promising. We have an active drilling program
underway along with extensive field work that will carry us well into the winter
and provide steady news flow.

We have the added benefit (saving tremendous time and money) of extensive data obtained from the geoscience office of the
closed Giant Mine. From this we have +450 historical drill logs from 1938 to 1996. We also have core from approx. 200 drill
holes that was recovered from the Giant Mine core yard. Sampling by TerraX included 5.0m @62.90 g/t gold and 20.86m @
3.79 g/t gold.

The completed 2015 winter drill program was designed to test dip and strike extension of high grade shoots and discovery of
new high grade shoots. The June 2015 field mapping & prospecting team identified more than 20 high grade, high priority
gold targets.

Environmental baseline studies continue along with water and soil analyses, archaeology and bathymetry. We are re-logging
historical drill core (over 20,000 metres of core) and continuing with data compilation and 3D modeling.

Not only were we able to finance with high caliber companies like Osisko Gold Royalties and CMP, but we did so at a premium
to market and without having to attach warrants (something rarely done in junior exploration). This was a significant vote of
confidence in our management and the project potential.

We have a very pro-active corporate communications (investor relations) program planned for this next year to create
corporate awareness and attract new shareholders. The Investor Relations section of this report outlines our plan which you
will find is one of the best in the junior mining industry.

Our core properties are mine leases, which provide secure title to the ground, and at a low carrying cost (approximately
$30,000/year in lease fees, with no requirement for work commitments or reporting).

Unlike much of our competition, we have a strong management team with the ability to raise capital, fund exploration, and
carry the exploration work out in a professional and responsible manner. Yet our G&A operating costs are low relative to our
peers allowing us to put our money into the ground where it has the best chance to return value to the shareholder.

Overall, our project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold camp.
We have innumerable gold showings and 2014 drilling produced high grade drill results that serve to indicate the project's
world-class district potential.

Further information (due diligence) including detailed geology is available from the TerraX
corporate presentation: http://www.terraxminerals.com/i/pdf/presentation.pdf
There is also a professional video available on the TerraX home page that fully explains the
geology and similarities to the large past producing Con Mine and Giant Mine.
The TerraX website is comprehensive and provides extensive due diligence.

PAGE 12 OF 13

Website: www.terraxminerals.com

TSXV:TXR
25 cents
TRXXF:
OTCPink
TXO:
Frankfurt

CEO: Joseph Campbell

Investor Relations Contact: Paradox Public Relations
info@paradox-pr.ca / 514-341-0408

Corporate Head Office:

2300-1066 West Hastings Street
Vancouver, B.C. V6E 3X2
1 (604) 6891749 (Vancouver)
1 (613) 8438109 (Ottawa)
EMail: info@terraxminerals.com

Note that many of the charts and graphs utilized in this report originated from TerraX. If you find
some of the text difficult to read, please visit their website to view the originals. You can find their
corporate presentation here along with their Forward Looking Statements Disclaimer:
http://www.terraxminerals.com/i/pdf/presentation.pdf

PAGE 13 OF 13
STOCKHOUSE ADVERTORIAL RESEARCH REPORT: DISCLAIMER
Equity Analyst and research report author Danny Deadlock DOES NOT own shares of TerraX (this includes family members or any company he is a
manager or director of). Under contract with Stockhouse Publishing Ltd., Danny Deadlock receives (one time) financial compensation of $2,500
CDN to cover costs associated with TerraX research and report preparation. TerraX is a client of Stockhouse Publishing Ltd.
Securities discussed in this report are high-risk, time and market sensitive. No statement or expression of opinion, or any other matter herein, directly
or indirectly, is an offer, solicitation or recommendation to buy or sell any securities mentioned.
While we (Danny Deadlock and Stockhouse Publishing Ltd.) believe all sources of information to be factual and reliable, we in no way represent or
guarantee the accuracy thereof, nor the statements made herein.
FORWARD LOOKING / CAUTIONARY STATEMENTS:
Certain statements contained in this report may constitute forward-looking information and statements. All statements in this report, other than statements of
historical fact, that address events or developments concerning TerraX that may occur, are "forward-looking information and statements".
Forward-looking information and statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "project", "predict", "propose", "potential", "targeting", "intend", "could", "might", "should", "believe", "budgeted", "scheduled and "forecasts",
and similar expressions and variations (including negative variations).
Forward-looking information and statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties
and other factors that may cause the public companys actual results, level of activity, performance or achievements to be materially different from those expressed or
implied by such forward-looking information and statements.
In preparing this report, several estimates and assumptions have been made. Many of these estimates and assumptions are based on factors and events that are not
within the control of Danny Deadlock, Stockhouse Publishing Ltd., or TerraX and there is no assurance they will prove to be correct. Several risk factors may cause actual
results to differ materially from those anticipated in these forward-looking information and statements.
Although Danny Deadlock believes the expectations and forecasts reflected in these and other forward-looking information and statements are reasonable, there can
give no assurance they will prove to have been correct. Such expectations and forecasts can be affected by inaccurate assumptions or by known or unknown risks and
uncertainties. New factors emerge from time to time and it is not possible for Danny Deadlock to predict all such factors and to assess in advance the impact of such
factor on the public companys business or the extent to which any factor, or combination of factors, may cause actual results that differ from those contained in any
forward-looking information or statements.
All of the forward-looking information and statements contained in this report are qualified by these cautionary statements. The reader of this report is cautioned not to
place undue reliance on any forward-looking information and statements. Danny Deadlock and Stockhouse Publishing Ltd. expressly disclaims any intention or
obligation to update or revise any forward-looking information and statements, whether as a result of new information, events or otherwise.
This is not an offer to sell or a solicitation of an offer to purchase securities of TerraX. This report is intended to be educational in nature and for informational purposes
only. The reader is cautioned that they should personally verify (validate) all information contained within this report. Danny Deadlock makes no guarantees (either
direct or implied) that the information contained within this report is free of errors.
Neither Danny Deadlock, Stockhouse Publishing Ltd. or any directors, officers, employees, agents or advisors makes any representation or warranty in respect of the
contents of this report or otherwise. In particular, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the
information or opinions contained herein, which have not been independently verified. No person shall have any right of action (except in case of fraud) against Danny
Deadlock, Stockhouse Publishing Ltd. or any other person in relation to the accuracy or completeness of the information contained in this report. The information
contained in this report is provided as at the date hereof and is subject to amendment, revision and updating in any way without notice or liability to any party.
While Danny Deadlock has used best efforts to ensure the accuracy and completeness of the information presented, such information has NOT been independently
audited or verified and Danny Deadlock (or any affiliated companies) assumes no responsibility for its accuracy.
The forward-looking information contained in this document is expressly qualified by this cautionary statement
Neither Danny Deadlock nor Stockhouse Publishing are brokers, dealers, or investment advisors. Readers are cautioned to conduct their own research and due diligence
and obtain professional advice before making any investment decisions. Danny Deadlock and/or Stockhouse will not be liable for any loss or damage caused by a
readers reliance on information obtained in this report. Readers are solely responsible for their own investment decisions. Owners or employees of Stockhouse
Publishing may hold positions in TerraX but this information is unknown to Danny Deadlock.
Copyright 2015 all rights reserved.

The Due Diligence Study (Questionnaire) utilized and contained within this research report is Exclusive (copyright) to Equity Analyst Inc. (Danny
Deadlock, CEO).
Danny Deadlock Contact Information: www.linkedin.com/in/dannydeadlock