Jasper Mining Corporation reports 224.64 m grading 0.31% Cu.EQ. from hole 50 for the diamond drill program on Isintok property

    Trading Symbol: JSP (TSX-Venture)

    CALGARY, April 27 /CNW/ - Jasper Mining Corporation (the "Company") is
pleased to release analytical results for samples from holes IS-08-48, 50 and
51 on its 100% owned Isintok property. The property comprises approximately
2,839 ha (7,015 acres or approximately 11.0 square miles), covering the
drainage divide between McNulty and Isintok creeks. The property is located
west of the Okanagan Valley in south-central British Columbia, approximately
27 km west-southwest of Summerland and 20 km north of Hedley.
    A total of 54 drill holes have been completed by the Company on the
property to date, with 38 of those holes completed as part of the Company's
highly successful 2008 exploration program. Full or partial results have now
been released from 27 of these holes. The objective of the 2008 drill program
was to evaluate Cu-Mo porphyry style mineralization corresponding with
coincident surface soil and Induced Potential (geophysical) anomalies.
    The holes from which the current results (below) were obtained were
drilled from three pads located on the western flank of the coincident
anomaly, drilled east at variable azimuths and inclinations. As such, the
holes are interpreted to be moderately to highly oblique to mineralization
controlled by steeply, generally west dipping structures.
    Management wishes to emphasize that although the project is currently
being evaluated as a Cu - Mo porphyry deposit, numerous very high grade
molybdenum intercepts have been documented, with single sample intervals to
4.985% Mo (8.315% MoS(2)) over 0.32 m and composite intervals grading 0.055%
Mo (0.092% MoS(2)) over 44.58 m. Local high grade values for silver (40.30 g/t
over 1.18 m), Au (2.591 g/t over 1.18 m) and tungsten (0.25% over 1.12 m) have
also been documented.
    In particular, determination of a copper equivalency value ("Cu. EQ.")
indicates that consistent silver values throughout many of the individual
holes reported to date which contribute significantly to the overall Cu. EQ.
grade for these holes. In management's opinion, the contribution of copper +/-
molybdenum +/- silver and, to a lesser degree, gold values over significant
thicknesses has resulted in preliminary Cu. EQ. grades of interest over
potential bulk tonnage intervals.

    Preliminary copper equivalency (Cu. EQ.) results for Holes 48, 50 and 51
are presented below:
          Hole Number  From (m)   To (m)   Width (m)  Cu. EQ.(1) (%)
           IS-08-48     29.13    258.35     230.72         0.19
           IS-08-50      3.46    337.85     392.15         0.21
           including     3.46    228.10     224.64         0.31
           including    29.45    113.60      84.15         0.44
           IS-08-51      3.30    190.80     187.50         0.17
           including     3.30    153.30     150.00         0.18
           including     3.30    117.30     114.00         0.20
           including    31.80    117.30      85.50         0.24

    1 - The equation used to calculate the copper equivalent is as follows:

    Cu. EQ (%) = ((Cu(%)(*)20(*) $Cu)+((Mo%(*)20(*)1.5(*)$MoO3))+
    ((Ag(*)($Ag/34.2857))+(Au(*)($Au/34.2857))) divided by (20(*)$Cu)

    where $Cu = $2.20/lb, $MoO3 = $12.00/lb,
    Ag = $12.00/oz and Au = $900.00/oz. Note: The
    resulting Cu. EQ. value assumes 100% recovery of all metals.

    As directed by Jasper management, the Company has used the above
indicated commodity prices to calculate a preliminary copper equivalency (Cu
EQ.) value. Commodity prices are constantly fluctuating and will be corrected
by the Company from time to time. Note: the copper equivalency determined is,
essentially, a semi-quantitative number in that it is not based on
metallurgical studies and does not address metal recovery and a host of other
production considerations.
    Management wishes to note that there are abundant mineralized intervals
within all holes reported to date having copper +/- molybdenum values greater
than 0.2% copper and/or 0.03% molybdenum and less than the 1% Cu and 1% Mo
minimum. For the purposes of evaluating the Isintok project, management is
using a minimum cut-off of 0.16% Cu. EQ. to define holes comprising a
mineralized volume of interest for further evaluation.
    The following table is a compilation of high grade analytical results for
copper +/- molybdenum +/- silver +/- gold for holes 48, 50 and 51. Note:
Consistent with recent News Releases, only results for individual intervals
greater than 1.00% copper, 1.00% MoS(2) and/or a copper equivalency value
greater than 0.2% (for composite intervals) have been tabulated below. Holes
48, 50 and 51 have been continuously assayed over a distance of 230.72 meters
for hole 48, 392.15 meters for hole 50 and 187.50 meters for hole 51.

      Hole      From     To     Width   Cu(1)   Mo    MoS(2)(2)    Ag     Au
     Number      (m)     (m)     (m)     (%)    (%)      (%)     (g/t)  (g/t)
    IS-08-48    29.13  258.35   230.72   0.09   0.01    0.01     1.17   0.03
    IS-08-50     3.46  337.85   392.15   0.09   0.01    0.02     0.82   0.02
    including   89.45   89.85     0.40  3.464  0.722    1.20      7.1  0.084
    including  215.44  215.79     0.35  2.419  0.528    0.88     18.0  0.495
    IS-08-51     3.30  153.30   150.00   0.07   0.01    0.02     1.07   0.03
    including    3.30  117.30   114.00   0.08   0.01    0.02     1.20   0.03
    including   31.80  117.30    85.50   0.09   0.01    0.02     1.44   0.04
    including    3.30  190.80   187.50   0.06   0.01    0.02     0.98   0.03

    (*) The angle between the core axis and veins were all at an inclined
        angle and so widths are not true widths

    Core in each of the sampled intervals was split, with one half submitted
    for analysis and one half retained for subsequent analysis. The core was
    submitted to Acme Analytical Laboratory Ltd in Vancouver, BC for Group
    1DX analysis. Samples returning in excess of 10,000 ppm copper were re-
    submitted for Group 7AR analysis. Samples that returned Mo results
    greater than 2,000 ppm were re-submitted for Group 7KP - 0.50 gm

    1 - Only single sample intervals having copper and/or molybdenum values
        greater than 1.0% were reported in the table above.

    2 - Conversion factor from Mo to MoS(2) is 1.6681.

    Holes 48, 50 and 51 were drilled from three separate pads located on the
western flank of a coincident surface soil and Induced Potential ("IP")
anomaly. The anomaly immediately east of the pads has a very abrupt change in
direction as documented by the IP survey. The area tested by drill holes 48,
50 and 51 is located immediately south of pads H and I, from which holes 27
through 38 were drilled, and was intended to follow up on the high grade
results returned from those holes.
    Taken together, the results of holes 27 through 51, are interpreted to
confirm the presence of high grade copper +/- molybdenum +/- silver +/- gold
+/- tungsten mineralization associated with the core of a coincident surface
soil geochemical and geophysical IP anomaly previously reported. Furthermore,
the results of these holes suggest the coincident anomaly delineates a high
grade mineralized volume in the sub-surface that will be the focus of further
drilling in the future. Finally, the surface soil geochemical anomaly
currently defined is considerably larger than the area underlain by the IP
survey (comprising the coincident anomaly) and is interpreted to define an
area of interest for further evaluation, tentatively proposed to include
expansion of the IP survey and diamond drilling.

    Management wishes to emphasize that:

    1. All holes drilled to date document near surface mineralization,
       immediately below a thin cover of overburden (up to 4 m thick) to
       depths up to 395.6 m down-hole or approximately 280 m vertically below
    2. There are abundant sampled intervals containing high grade copper +/-
       molybdenum +/- silver +/- gold +/- tungsten in the majority of the
       holes completed to date, with hundreds of analytical results exceeding
       0.2% copper and/or 0.03% molybdenum;
    3. Highly anomalous gold, silver and/or tungsten values have been
       documented over hundreds of intervals, from multiple holes and are
       considered worthy of further evaluation, particularly with respect to
       silver and, to a lesser degree, tungsten;
    4. Many holes drilled to date document intervals having a Cu. EQ. value
       in excess of 0.16%, which is the minimum cut-off the Company is
       tentatively using to define a potential mineralized volume of
       interest, and
    5. The mineralized volume defined to date is open to the north and south,
       as well as down-dip to the west.

    Management is very encouraged by continued high grade (Cu +/- Mo)
analytical results from the majority of drill holes completed in 2008 to test
the coincident IP - soil anomaly. Furthermore, Management is unreservedly
encouraged by continued analytical results returned from the 2008 field
program, confirming high grade, copper +/- molybdenum +/- silver +/- gold +/-
tungsten mineralization spatially coincident with, and underlying, surface
soil and IP survey results. The 2008 drill program has been completed and
further analytical results will be reported as received.
    Rick Walker, consultant for Jasper Mining Corporation, a qualified person
as defined by National Instrument 43-101, prepared the technical information
in this release.

        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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