J-Pacific Gold Provides Progress Report on Its Montgolfier Drilling Program

    VANCOUVER, March 3 /CNW Telbec/ - J-Pacific Gold Inc. ("J-Pacific,"
TSXV - JPN) announced today that the 12,000-metre core drilling program at its
Montgolfier Project is progressing on schedule. The Montgolfier Project is
located in the Casa Berardi region of northwestern Quebec, some 85 kilometres
west of Matagami and 40 kilometres east of the Casa Berardi gold deposit.
    To date, seven of the 18 planned drill holes have been completed, for
3,700 of the planned 10,000 metres. The drilling program is progressing with
two drill rigs, and assay results are pending. Drilling is expected to
continue until the end of March.
    The 2008 program comprises 18 boreholes designed to test the lateral and
depth extensions of gold mineralization encountered during the 2007 program.
The current program focuses on three main target areas, spanning 16 kilometres
of strike length along the Casa Berardi Fault. Maps detailing the planned
drill holes are available for download on the J-Pacific website. As of
February 26, 2008, seven boreholes totalling 3,700 metres have been completed
in the western target areas, and the drill rigs have been moved to the eastern
target area, where an additional 10 boreholes are planned.
    Six boreholes (JPN08-27, JPN08-28, JPN08-29, JPN08-30, JPN08-32,
JPN-08-34) have been completed to investigate, on three 100-metre sections,
the lateral and depth extensions of hole JPN07-06 (1.44g Au/t over
12.0 metre (*)), which is hosted inside a broad muscovite-carbonate-pyrite
alteration zone adjacent to the Casa Berardi Fault. All six boreholes
intersected the targeted alteration structure in the foot wall of the Casa
Berardi Fault, with weak to moderate muscovite-carbonate-pyrite alteration
over 10- to 30-metres core length intervals.(*) Assay results are pending.
    Further, the three boreholes designed to investigate approximately
100 metres below (300 metres vertical depth) hole JPN07-06 intersected a new
muscovite-carbonate-pyrite alteration corridor, approximately 200 metres south
of the corridor along the foot wall of the Casa Berardi Fault (150 metres
depth). The new structure exhibits similar weak to moderate
muscovite-carbonate-pyrite alteration over a few to tens of metres in core
length,(*) and is accompanied with minor quartz-carbonate-pyrite veining,
identical to the section intersected in borehole JPN07-06. In light of these
results, the casing was left in three of the boreholes to allow for down-hole
geophysical probing, to trace the depth and lateral extensions of the two
favourable alteration corridors. It is expected that one or two additional
boreholes will be completed toward the end of the drilling program.
    Borehole JPN08-31 tested the depth extensions of JPN07-01 that
intersected a weakly anomalous ((less than)200 ppb Au)
quartz-carbonate-tourmaline vein breccia zone (8.0 metres core length)
accompanied by strong arsenopyrite-pyrite mineralization (5-15 percent). The
hole was drilled from the north and did not intersect the targeted
arsenopyrite-bearing quartz-tourmaline vein breccia. However, north of the
projected depth extension the hole intersected several decametre-scale
silica-carbonate alteration zones with disseminated arsenopyrite and pyrite
mineralization (traces to 8 percent over metre-scale sections). The planned
second hole is on hold pending analysis of results.
    The two drill rigs have now been moved approximately 15 kilometres east,
to investigate the lateral and depth extensions of gold mineralization
intersected in hole JPN07-17 (10.42g Au/t over 1.0 metre(*)) and hole JPN07-21
(6.44g Au/t over 3.2 metres(*)), on seven 100-metre sections over a strike
length of 1.3 kilometres.

    (*)There is insufficient data to determine if the reported core intervals
       represent true widths. See J-Pacific news releases dated March 22 and
       July 19, 2007.


    The Montgolfier Project straddles the Casa Berardi Tectonic Zone,
approximately 30 kilometres east of the Casa Berardi Mine, where Aurizon
Mines Ltd. has outlined a mineral reserve of 4.9 million tonnes grading 7.69 g
Au/t (equivalent to 1,211,471 oz Au), with an indicated mineral resource of
2.7 million tonnes grading 5.11 g Au/t (equivalent to 443,583 oz Au), and an
inferred mineral resource of 5.7 million tonnes grading 6.50 g Au/t
(equivalent to 1,191,183 oz Au) (Source: Aurizon Mines Ltd. website).
    While the presence of gold reserves and resources at the Casa Berardi
Mine does not necessarily indicate that gold resources will be delineated on
the Montgolfier Property, SRK Consulting believes there are similarities in
the stratigraphy and structural setting of the Montgolfier Property to those
of the Casa Berardi Mine, as well as other occurrences of gold mineralization
elsewhere in the Casa Berardi Tectonic Zone.
    The drilling is being completed by Major Drilling Group International
Inc., and the on-site geological expertise is being provided by IOS Services
Géoscientifiques Inc., a Quebec-based geological services consulting company,
under the supervision of Dr. Jean-Francois Couture, P.Geo., J-Pacific's
qualified person for this project as defined by NI 43-101 regulations, who has
reviewed and approved this news release.

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

For further information:

For further information: visit www.jpgold.com, or call or e-mail: Media
Inquiries: Victor Webb/Madlene Olson, Marston Webb International, (212)
684-6601, Fax: (212) 725-4709, marwebint@cs.com; J-Pacific Gold Inc., (888)
236-5200, Fax: (604) 684-6678, info@jpgold.com; Investor Relations: Renmark
Financial Communications Inc.: Neil Murray-Lyon,
nmurraylyon@renmarkfinancial.com; Jen Power, jpower@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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