J-Pacific Receives Funds from Exercise of Warrants



    VANCOUVER, Nov. 1 /CNW Telbec/ - J-Pacific Gold Inc. ("J-Pacific";
TSXV - JPN, OTCBB - JPNJF) said today that it has received a total of
$2,250,815 from the exercise of 4,583,300 share purchase warrants since the
middle of September. The warrants exercised were issued in connection with
private placements that closed in 2005 and 2006. The funds received will be
used for J-Pacific's upcoming exploration programs.
    J-Pacific invests its reserve cash balances in short-term deposit
instruments guaranteed by the Bank of Montreal, and does not invest in
asset-backed commercial paper. It is debt-free and has no exposure to
derivative hedging and non-recourse loans. Furthermore, J-Pacific has a
100 per cent undiluted interest in all of its mineral projects and does not
have joint venture partners.

    J-Pacific is a junior resource company focused on gold exploration and
mining in Canada. J-Pacific owns the past-producing Blackdome Gold Mine in
south-central British Columbia and is completing exploration in immediately
adjacent areas, and on the Elizabeth Project, approximately 30 kilometres to
the south. In addition, J-Pacific has been actively exploring in Quebec on the
Montgolfier Project, some 35 kilometres east of the Casa Berardi Project held
by Aurizon Mines Ltd., and on the Callaghan and Golden Trend Projects in the
Battle Mountain-Cortez District of Nevada, USA.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Statements in this press release, other than statements of historical
information, are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual performance and
results may differ materially from those projected or suggested due to certain
risks and uncertainties, some of which are described below. Such
forward-looking statements include comments regarding the establishment and
estimates of mineral reserves (and non-reserve mineralized material), future
increases in mineral reserves, the recovery of any mineral reserves,
construction cost estimates, construction completion dates, equipment
requirements and costs, production, production commencement dates, grade,
processing capacity, potential mine life, results of feasibility studies,
development, costs and expenditures. Factors that could cause actual results
to differ materially include timing of and unexpected events during
construction, expansion and start-up; variations in ore grade, tonnes mined,
crushed or milled; delay or failure to receive board or government approvals;
timing and availability of external financing on acceptable terms for
equipment, construction, working capital and other purposes; the availability
of adequate power and water supplies; the availability of adequate mining
equipment; technical, permitting, mining or processing issues; and
fluctuations in gold price and costs. There can be no assurance that future
developments affecting the Company will be those anticipated by management.
    The forecasts contained in this press release constitute management's
current estimates, as of the date of this press release, with respect to the
matters covered thereby. We expect that these estimates will change as new
information is received and that actual results will vary from these
estimates, possibly by material amounts. While we may elect to update these
estimates at any time, we do not undertake to update any estimate at any
particular time or in response to any particular event. Investors and others
should not assume that any forecasts in this press release represent
management's estimate as of any date other than the date of this press
release. Additional information concerning certain risks and uncertainties
that could cause actual results to differ materially from those projected or
suggested is contained in the Company's filings with the Securities and
Exchange Commission (SEC) over the past 12 months, copies of which are
available from the SEC or may be obtained upon request from the Company.




For further information:

For further information: visit www.jpgold.com, or call or e-mail: Media
Inquiries: Victor Webb, Madlene Olson, Marston Webb International, (212)
684-6601, Fax: (212) 725-4709, marwebint@cs.com; J-Pacific Gold Inc.: (888)
236-5200, Fax: (604) 684-6678, info@jpgold.com; Investor Relations: Renmark
Financial Communications Inc.: Neil Murray-Lyon:
nmurraylyon@renmarkfinancial.com; Jen Power: jpower@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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J-PACIFIC GOLD INC.

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