Jasper Mining Corporation reports further high grade molybdenum results from McFarlane property



    Trading Symbol: JSP (TSX-V)

    CALGARY, Jan. 27 /CNW/ - Jasper Mining Corporation (the "Company") wishes
to announce more high grade molybdenum results from a further 5 holes
completed on the McFarlane property. Results to date have included molybdenite
values up to 3.235 % Mo (5.396% MoS(2)) with composite intervals exceeding
7.37 metres. Results greater than approximately 0.1% MoS(2) (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 43
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-08-26       115.25    116.11      0.86       708     0.071     0.118
    ------------------------------------------------------------------------
       including   115.50    116.11      0.61     954.4     0.095     0.158
    ------------------------------------------------------------------------
                   164.71    165.18      0.47    1289.1     0.129     0.215
    ------------------------------------------------------------------------
    MF-08-27        57.12     57.26      0.14     791.9     0.079     0.132
    ------------------------------------------------------------------------
                    59.65     60.44      0.79       958     0.096     0.160
    ------------------------------------------------------------------------
       including    59.65     60.09      0.44    1716.4     0.172     0.287
    ------------------------------------------------------------------------
                   192.26    193.45      1.19     685.7     0.069     0.115
    ------------------------------------------------------------------------
    MF-08-28        25.24     25.54      0.30    1381.1     0.138     0.230
    ------------------------------------------------------------------------
                    32.96     33.25      0.29      8350     0.835     1.393
    ------------------------------------------------------------------------
                    40.51     40.98      0.47     20400     2.040     3.403
    ------------------------------------------------------------------------
                    59.87     60.33      0.46     868.8     0.869     1.450
    ------------------------------------------------------------------------
    MF-08-29        59.31     59.57      0.26    1185.4     0.118     0.197
    ------------------------------------------------------------------------
                   192.84    193.58      0.74     606.7     0.061     0.102
    ------------------------------------------------------------------------
    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
    ------------------------------------------------------------------------
                    55.20     55.80      0.60       965     0.096     0.160
    ------------------------------------------------------------------------
                   114.60    115.21      0.61      1056     0.106     0.177
    ------------------------------------------------------------------------
       including   114.60    115.00      0.40    1606.5     0.161     0.269
    ------------------------------------------------------------------------
                   128.31    129.53      1.22       753     0.075     0.125
    ------------------------------------------------------------------------
       including   129.06    129.53      0.47    1901.3     0.190     0.317
    ------------------------------------------------------------------------
       including   133.70    134.04      0.34    1048.3     0.105     0.175
    ------------------------------------------------------------------------
                   158.75    159.00      0.25     866.4     0.087     0.145
    ------------------------------------------------------------------------

    (*)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 26 - 29 were drilled from a single pad in the central portion of
the property, approximately midway between the Ben Derby and the eastern adit.
 Hole 77 was one of the holes drilled in the northeastern portion of the
property from a pad located north-northeast of the eastern adit. All holes
were collared on existing roads. 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 77 was drilled from the same pad as Hole 75 and
76, (see News Release dated October 28; June 24 and July 11, 2008,
respectively).
    All holes drilled to date were located within an area approximately 900 m
x 400 m oriented northeastsouthwest. 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 has engaged a consulting geologist to prepare a compliant 43-101
report with respect to its McFarlane property.
    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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