Jasper Mining Corporation - More high grade molybdenum results from McFarlane property



    Trading Symbol: JSP (TSX-V)

    CALGARY, Oct. 28 /CNW/ - Jasper Mining Corporation (the "Company")
announces additional high grade molybdenum results from a further 6 holes
completed on the McFarlane property. Results to date have included molybdenite
values up to 3.235 % Mo (5.396% MoS(2)(1)) with composite intervals exceeding
7.37 metres. Results greater than approximately 0.1% MoS(2)(1) (600 ppm Mo)
are reported below. (Note: the minimum cut-off for reporting anomalous results
has been lowered from 0.1% Mo in earlier reports to 0.1% MoS(2)). An
additional 126 samples (in addition to those reported below) returned Mo
values greater than 100 ppm.

    
    -------------------------------------------------------------------------
      Hole           From       To      Width(*)     Mo       Mo    MoS(2)(1)
     Number           (m)       (m)       (m)       (ppm)     (%)      (%)
    -------------------------------------------------------------------------
    MF-08-71         62.25     63.41      1.16       1125    0.114     0.190
    -------------------------------------------------------------------------
        including    62.25     62.68      0.43     1230.9    0.123     0.205
    -------------------------------------------------------------------------
        including    63.19     63.41      0.22       3060    0.306     0.510
    -------------------------------------------------------------------------
                     71.64     71.83      0.19      830.3    0.083     0.138
    -------------------------------------------------------------------------
                     87.60     88.45      0.85        670    0.067     0.112
    -------------------------------------------------------------------------
        including    87.60     87.95      0.35      683.8    0.068     0.113
    -------------------------------------------------------------------------
        including    87.95     88.45      0.50      661.1    0.066     0.110
    -------------------------------------------------------------------------
                    105.20    105.65      0.45       3670    0.367     0.612
    -------------------------------------------------------------------------
                    129.50    130.15      0.65        991    0.099     1.651
    -------------------------------------------------------------------------
                    129.50    130.00      0.50      799.4    0.080     0.133
    -------------------------------------------------------------------------
                    130.00    130.15      0.15     1631.8    0.163     0.272
    -------------------------------------------------------------------------
    MF-08-72         68.00     68.20      0.20     1438.6    0.144     0.240
    -------------------------------------------------------------------------
    MF-08-75         11.48     11.88      0.40      644.2    0.064     0.107
    -------------------------------------------------------------------------
                     90.80     91.94      1.14        796    0.080     0.133
    -------------------------------------------------------------------------
                     91.70     91.94      0.24       3780    0.378     0.630
    -------------------------------------------------------------------------
                    133.04    133.28      0.24      759.8    0.076     0.127
    -------------------------------------------------------------------------
                    153.55    153.74      0.19      764.6    0.076     0.127
    -------------------------------------------------------------------------
                    156.05    156.35      0.30      730.6    0.073     0.122
    -------------------------------------------------------------------------
                    161.47    163.01      1.54        598    0.060     0.100
    -------------------------------------------------------------------------
        including   162.63    163.01      0.38       2410    0.241     0.402
    -------------------------------------------------------------------------
                    166.15    167.09      0.94      12790    1.279     2.133
    -------------------------------------------------------------------------
                    188.96    189.13      0.17      621.1    0.062     0.103
    -------------------------------------------------------------------------
                    192.11    192.22      0.11        677    0.068     0.113
    -------------------------------------------------------------------------
                    198.06    198.49      0.43      681.5    0.068     0.113
    -------------------------------------------------------------------------
                    201.25    201.44      0.19     1157.6    0.116     0.194
    -------------------------------------------------------------------------
                    209.18    209.41      0.23     1075.7    0.108     0.180
    -------------------------------------------------------------------------
                    210.44    210.88      0.44        937    0.094     0.157
    -------------------------------------------------------------------------
                    265.40    265.56      0.16       2760    0.276     0.460
    -------------------------------------------------------------------------
                    268.11    268.29      0.18     1497.8    0.150     0.250
    -------------------------------------------------------------------------
                    269.33    269.49      0.16      836.9    0.084     0.140
    -------------------------------------------------------------------------
                    299.12    299.28      0.16      732.4    0.073     0.122
    -------------------------------------------------------------------------
    MF-08-77          7.91      8.74      0.83     1430.7    0.143     0.238
    -------------------------------------------------------------------------
                     16.67     17.67      1.00       4370    0.437     0.729
    -------------------------------------------------------------------------
    MF-08-79         43.30     43.47      0.17       1666    0.167     0.279
    -------------------------------------------------------------------------
                     64.80     65.08      0.28     1143.6    0.114     0.190
    -------------------------------------------------------------------------
                     72.00     72.54      0.54       2580    0.258     0.430
    -------------------------------------------------------------------------
                     84.53     85.03      0.50     1209.8    0.121     0.202
    -------------------------------------------------------------------------
                     90.20     90.93      0.73      22270    2.227     3.715
    -------------------------------------------------------------------------
                    112.70    112.88      0.18       2340    0.234     0.390
    -------------------------------------------------------------------------
                    126.45    127.14      0.69      751.1    0.075     0.125
    -------------------------------------------------------------------------
                    134.90    135.26      0.36      661.1    0.066     0.110
    -------------------------------------------------------------------------
                    138.81    139.17      0.36       2420    0.242     0.404
    -------------------------------------------------------------------------
                    150.25    153.55      3.30        625    0.063     0.105
    -------------------------------------------------------------------------
        including   151.96    152.28      0.32       3690    0.369     0.615
    -------------------------------------------------------------------------
        including   153.08    153.55      0.47     1744.2    0.174     0.290
    -------------------------------------------------------------------------
                    169.45    170.43      0.98        698    0.700     1.168
    -------------------------------------------------------------------------
        including   169.45    169.71      0.26     1777.6    0.178     0.297
    -------------------------------------------------------------------------
                    172.29    172.49      0.20       6170    0.617     1.029
    -------------------------------------------------------------------------
                    193.90    194.56      0.66     1036.9    0.104     0.173
    -------------------------------------------------------------------------
                    197.11    198.97      1.86        598    0.060     0.100
    -------------------------------------------------------------------------
        including   197.39    197.99      0.60     1835.9    0.184     0.307
    -------------------------------------------------------------------------
                    221.76    222.22      0.46      830.5    0.083     0.138
    -------------------------------------------------------------------------
                    240.07    240.48      0.41     1548.3    0.155     0.259
    -------------------------------------------------------------------------
                    248.41    248.75      0.34     1232.3    0.123     0.205
    -------------------------------------------------------------------------
                    273.35    273.55      0.20        768    0.077     0.128
    -------------------------------------------------------------------------
                    282.84    283.06      0.22      614.5    0.061     0.102
    -------------------------------------------------------------------------
    (*) The angle between the core axis and veins were all at an inclined
        angle and so widths reported may not be true widths
    

    Core in each of the sampled intervals was split, with one half submitted
for analysis and one half retained for subsequent analysis. Core was submitted
to Acme Analytical Laboratory Ltd in Vancouver, BC for Group 1DX analysis.
Samples that returned Mo results greater than 2,000 ppm were re-submitted for
re-analysis. Group 7KP - 0.50 gm analysis was utilized for more quantitative
determination of high grade Mo results.

    1 - Conversion factor from Mo to MoS(2) is 1.6681.

    Holes 71, 72, 75, 77, and 79 were drilled in the eastern portion of the
property and were all drilled from existing roads north-northeast of the
eastern adit. The holes were all drilled on the same azimuth (140) with
varying inclinations, intended to return mineralized intercepts at moderate to
high angles to the core axis.
    Hole 71 is one of the northernmost holes drilled to date, and was drilled
at an inclination of -60. Hole 75 and 77 were drilled from the same pad as
Hole 76, (see News Release dated June 24 and July 11, 2008). Hole 75 was
drilled at an inclination of -45 and hole 77 at -65. Hole 79 was drilled from
the same pad as hole 78 (see News Release dated Aug. 28, 2008) at an
inclination of -55.
    Hole 72 was drilled approximately 230 m due south of Hole 71 and
approximately 250 m north-northeast of the eastern adit. Holes 75 and 77 were
drilled approximately 110 m north of Hole 72, while Hole 79 was drilled
approximately 80 m west of Holes 75 - 77. Therefore, all the holes reported
herein were drilled in an area approximately 100 m east-west by 250 m
north-south, located approximately 250 m north to north-northeast of the
eastern adit.
    All holes drilled to date were located within an area approximately 900 m
x 400 m oriented northeast-southwest. The deepest hole (MC-08-67) was 371.95 m
in length, placing the end of the hole approximately 276 m below surface, with
high grade mineralization documented at a down-hole depth of 345.26 m (see
News Release dated June 24, 2008). Mineralization has been confirmed from
multiple holes defining the boundaries of this area and, therefore, mineral
potential remains open in all directions.
    Drill core recovered from the program continues to be evaluated and
sampled, with samples submitted for analysis to Acme Laboratories Ltd in
Vancouver, BC. Quantitative analytical results will continue to be released as
received and evaluated by the Company.
    Jasper management is very encouraged with the McFarlane drilling results
and expects to have sufficient information to undertake an independent
resource evaluation for the property in early 2009.
    The McFarlane and Lydy properties are 4,259 ha (10,524 acres),
encompassing an area 11 km east-west by 4 km north-south. Both the Lydy and
McFarlane properties are 100% owned by the Company with potential for
molybdenum plus copper plus/minus gold mineralization.
    This news release has been prepared by Richard T. Walker, B.Sc., M.Sc.,
P. Geo., the "Qualified Person" under National Instrument 43-101.

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





For further information:

For further information: Gordon F. Dixon, Q.C., President, Jasper Mining
Corporation, Telephone (403) 297-9480, Fax (403) 266-1487, email:
xon@telus.net; Investor relations inquiries may be directed to Robert Rowell,
Telephone (403) 668-4880, email: ir@beaumontcapital.ca


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