Jasper Mining Corporation announces private placement to raise up to $2,500,000 by the issuance of flow-through shares



    Trading Symbol: JSP (TSX-V)

    CALGARY, Oct. 27 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce a non-brokered private placement of up to 6,756,757
flow-through units at $0.37 per unit for a total amount of up to $2,500,000.
Each unit will consist of 1 common share and 1 common share purchase warrant
with a term of 18 months, and an exercise price of $0.75. The flow-through
common shares and warrants will have a hold period of four months.
    The private placement will result in the issuance of up to 6,756,757
common shares, and up to 6,756,757 share purchase warrants.
    A finders fee of 6% will be payable to First Merchants Capital Inc., and
First Merchants 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 $0.50
with a term of 18 months.
    This News Release is being issued in accordance with TSX Venture Exchange
procedure which requires a News 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, E-mail:
xon@telus.net


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