Jasper Mining Corporation announces private placement to raise up to $2,600,000.00 with MineralFields



    Trading Symbol: JSP (TSX-V)

    CALGARY, July 8 /CNW/ - Jasper Mining Corporation (TSXV:JSP) is pleased
to announce a non-brokered private placement of up to $2,600,000 through the
sale of up to 6,756,757 flow-through units at $0.37 per unit, and 333,334 hard
dollar units at $0.30 per unit to MineralFields Group (a division of Pathway
Asset Management) and First Canadian Securities. Each flow-through unit will
consist of 1 flow-through common share and 1 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). Each hard dollar unit will consist of 1 common share and 1 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). 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 6,756,757
flow-through common shares, 333,334 hard dollar common shares and 7,090,091
share purchase warrants.
    A finders fee of 6% will be payable to First Canadian Securities(R) and
First Canadian Securities(R) will be granted a finder's fee option equal to 8%
of the total number of units subscribed for, at an exercise price of $0.37 per
flow-through unit and $0.30 per hard dollar unit. In addition, there will be a
due diligence fee of 2% paid to them.
    MineralFields Group (a division of Pathway Assets Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about MineralFields Group is
available at www.mineralfields.com. First Canadian Securities(R) is active in
leading resource financings (both flow-through and hard dollar) on
competitive, effective and service-friendly terms, with investors both within,
and outside of, MineralFields Group.
    "We are very pleased to be renewing our relationship with MineralFields
Group", said Gordon Dixon, Chairman of the Corporation. "This is an important
milestone in the growth of Jasper Mining Corporation and we look forward to
working with MineralFields Group as we develop our properties in B.C."

    This Press 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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