Jasper Mining Corporation announces follow-up exploration program for McFarlane property

    Trading Symbol: JSP (TSX-V)

    CALGARY, Oct. 25 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to announce a follow-up program for its McFarlane property comprised
of detailed soil and IP geophysical surveys, followed by additional diamond
drilling. The proposed program is tentatively scheduled to commence
October 29, 2007 beginning with preparation of a detailed grid and soil
sampling, followed by the IP and diamond drill programs in early November.
    The grid being prepared will consist of 11 lines oriented perpendicular
to the trend of the molybdenum-bearing vein accessed by the Ben Derby adit. A
1.1 km baseline will extend 1.1 km northeast from the Ben Derby adit, parallel
to the trend of the vein (060 degrees - 240 degrees). Survey lines 1 km long
will be oriented 150 degrees - 330 degrees. The survey line will be
perpendicular to the baseline, with individual lines spaced every 50 m, so as
to provide a tight sample spacing for both soil and IP programs.
    The geophysical program will consist of a detailed 3D Induced Potential
survey, intended to test the response of narrow, high grade,
molybdenum-bearing quartz veins with respect to host rocks. The combination of
soil sample results and the IP survey over the detailed test grid is expected
to allow direct comparison between analytical soil and IP results for future
application on the property.
    The Company is tentatively scheduled to initiate a diamond drill program
in early November tocontinue evaluation of molybdenum-bearing veins
(previously reported in News Releases dated July 27, 2006, July 4, 2007 and
October 22, 2007). The program will consist of 9 drill pads located along
existing roads. A total of 11 holes are proposed, oriented toward azimuth
150 degrees (southeast) and inclined at -45 degrees (the shallowest
inclination feasible), so as to produce drill hole intercepts with the vein
array at approximately 35 degrees. Several steeper holes may be drilled from
pads close to the surface projection of the vein system so as to determine the
down-dip continuity and extent of the veins, with correspondingly shallower
core - vein intercepts.
    The proposed program is expected to be completed by mid-December and
provide valuable information on the vein system, its orientation and
continuity (both along strike and at depth) as wellas variations in molybdenum
grade. Based on soil results to date, taken along the existing road network,
anomalous copper and molybdenum values have been identified in a broad
corridor extending east from the eastern contact of the Crawford Stock through
the McFarlane propertytoward the Lydy property. Ideally, the combination of a
detailed soil/IP survey with diamond drilling will provide a signature that
can be used to extend identification of the mineralized system farther to the
east within the McFarlane/Lydy property. This possibility would, obviously, be
of considerable significance to the Company given an Inferred Resource of
62,005,615 tonnes grading 0.035% Mo, using a cut-off grade of 0.01% Mo,
announced by Eagle Plains (Press Release dated May 9, 2006) on their Sphinx
property, located immediately north of the joint McFarlane/Lydy property
    Management is very encouraged by the results returned from the McFarlane
property to date. Quantitative results have confirmed high grade,
molybdenum-bearing quartz veins, with veins ranging from mm-scale to a maximum
of 1.2 m (Ben Derby adit) and the 7.3 metre intersection assaying 0.889%
molybdenum discovered in hole (2007 No.5) located approximately 900 metres to
the east. Evaluation of available information is interpreted to suggest
potential for identification of additional mineralization localized along a
layered vein system.
    The property is adjacent to, and is contiguous with, the Company's Lydy
property. Together, the Lydy and McFarlane properties comprise a composite
property of 4,259 ha (10,524 acres),encompassing an area 11 km east-west by
4 km north-south. Both the Lydy property (1,201 ha; 2,968 acres) and the
McFarlane property (3,058 ha; 7,556 acres) are 100% owned by the Company with
potential for molybdenum plus copper plus/minus gold mineralization.
    This press release has been prepared by Richard T. Walker, B.Sc., M .Sc.,
P. Geo., the "QualifiedPerson" 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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