Jasper Mining Corporation closes $1,000,000 private placement

Trading Symbol: JSP (TSX-V)

CALGARY, Feb. 1 /CNW/ - Jasper Mining Corporation is pleased to announce that it has completed a non-brokered private placement, as announced on January 4, 2010 and accordingly has issued 5,000,000 flow-through units (the "FT Units") of the Company at a price of $0.20 per FT Unit for gross proceeds to the Company of $1,000,000.

There was one subscriber to the private placement. A cash fee of 6% will be paid to First Merchants Capital Inc. and First Merchants Capital Inc. will be granted an option equal to 4% of the total number of units subscribed for in connection with this private placement.

All of the securities issued pursuant to this private placement are subject to a four month hold period. The hold period for the 5,000,000 FT Units expires on May 18, 2010.

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, email: xon@telus.net

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