Jasper Mining Corporation announces private placement to raise up to $1,200,000 with Anacort Capital Inc.



    CALGARY, Aug. 21 /CNW/ - Jasper Mining Corporation (TSXV:JSP) is pleased
to announce a non-brokered private placement of up to $1,200,000 through the
sale of up to 2,000,000 hard dollar units at $0.30 per unit and 1,621,622
flow-through units at $0.37 per unit. Each hard dollar unit will consist of 1
common share and 1 Series A common share purchase warrant (with a term of
24 months, and an exercise price of $0.60 in year 1 and $0.75 in year 2). Each
flow-through unit will consist of 1 flow-through common share and 1 Series B
common share purchase warrant (with a term of 24 months, and an exercise price
of $0.75 in year 1 and $1.00 in year 2). All of the securities issued pursuant
to this offering will have a hold period of four months after the closing
date.
    The private placement will result in the issuance of up to 2,000,000 hard
dollar common shares, 1,621,622 flow-through common shares and 3,621,622 share
purchase warrants.
    A finders fee of 8% will be payable to Anacort Capital Inc. and Anacort
Capital Inc. will be granted a finder's fee option equal to 4% of the total
number of units subscribed for, at an exercise price of $0.40 with a term of
24 months.

    This News Release is being issued in accordance with TSX Venture Exchange
procedure which requires a Press Release be made that discloses the material
details of the private placement.

    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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