Trading Symbol: TSX-V: JSP
CALGARY, March 31, 2014 /CNW/ - Jasper Mining Corporation ("Jasper") (TSXV: JSP) announces the sale of its Irony property located northwest of Revelstoke, BC for $100,000 cash plus a net smelter returns royalty agreement. The sale of the mineral claims is to Selkirk Metals Corp. and Ruddock Creek Mining Corporation, both subsidiaries of Imperial Metals.
The net smelter returns royalty agreement provides for a 1.5% net smelter returns royalty to Jasper. The Purchasers have the right to purchase two-thirds of the net smelter returns royalty interest, representing 1% of the net smelter returns royalty, for a payment of $1,000,000.
Jasper's diamond drill holes on the Irony property did not discover any significant mineralization.
Jasper is now concentrating its efforts on its copper, molybdenum, gold, silver, tungsten Isintok property which is located 20 km north of Hedley on Highway 5 in south-central BC.
Jasper's Vowell Creek/Ruth Vermont property is still being worked on by independent geologists with a view to determining the potential for gold. Jasper's previous work on the property resulted in two significant gold intersections.
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 shares for debt issuance.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Jasper Mining Corporation
For further information: Gordon F. Dixon, Q.C., President, Jasper Mining Corporation, Telephone: (403) 297-9483, Fax (403) 266-1487, email: [email protected]