Jasper Mining Corporation announces private placement to raise $50,000.00 by
the issuance of flow-through shares

Trading Symbol: JSP (TSX-V)

CALGARY, Nov. 9 /CNW/ - Jasper Mining Corporation (the "Company") is pleased to announce a non-brokered private placement of 250,000 flow-through units at $0.20 per unit for a total amount of $50,000. Each unit will consist of 1 common share and 1/10 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 250,000 common shares, and 25,000 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 $0.75 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.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the inadequacy or accuracy of this release.

SOURCE Jasper Mining Corporation

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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