Jasper Mining Corporation Initiates IP Geophysical Program and Further Drilling on McFarlane Property

    Trading Symbol: JSP (TSX-V)


    CALGARY, Jan. 21 /CNW/ - Jasper Mining Corporation initiated a ground
geophysical survey on the McFarlane property on January 14, 2008. The survey
is intended to further delineate the high grade molybdenum vein system
previously reported in two adits (Ben Derby MINFILE occurrence 082FNE125) and
Jasper's previous drill programs, reported in News Releases dated July 27,
2006, July 4, 2007 and December 11, 2007.
    The Induced Potential (IP) survey consists of tightly spaced survey lines
to detect one or more targets characterized by a geophysical response. The
survey will consist of 11 lines spaced 50 metres apart and approximately 600
metres in length. A preliminary interpretation of the IP surface geophysical
survey should be available towards the end of January 2008.
    The IP survey is intended to test and identify the high grade molybdenum
bearing quartz veins that have been identified on the visual examination of
the drill cores from the November/December 2007 diamond drill program. It is
anticipated that the IP program will be able to identify the molybdenum
bearing veins and show the extension of the veins from the diamond drill
    Visual inspection of the drill cores from the November/December 2007
diamond drill program have identified what appears to be high grade molybdenum
in quartz veins. Assays for this program should be available for publication
during February 2008.
    The 2007 program on the McFarlane property consisted of 25 drill holes.
21 of these drill holes were drilled to test the high grade molybdenum vein
system which extends east from the Ben Derby adit to the second adit
identified on the property. The area between the two adits, and further east,
is interpreted to comprise the core of the high grade vein system. Jasper
speculates that the veining identified to date comprises the uppermost levels
of a molybdenum porphyry system.
    Jasper intends to continue drilling the vein system on the McFarlane
property and plans to mobilize further drilling during January 2008. Based on
Jasper's interpretation some deeper holes will be drilled through the vein
system in an attempt to identify the possible molybdenum porphyry system.
    The McFarlane and adjoining Lydy properties comprise approximately 4,259
hectares (10,524 acres) which encompasses an area approximately 11 km
east/west by 4 km north/south and is 100% owned by Jasper.

    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 or visit Jasper's website at www.jaspermining.com; Investor
relations inquiries may be directed to Robert Rowell, Telephone (403)
668-4880, email: ir@beaumontcapital.ca

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