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| JASPER MINING CORPORATION 1020, 833 - 4TH AVENUE S.W. CALGARY, ALBERTA, T2P 3T5 TELEPHONE: (403) 297-9480, FAX: (403) 266-1487 December 12, 2006 PRESS RELEASE JASPER MINING CORPORATION ANNOUNCES COMPLETION The company recently demobilized the diamond drill from the property. Drilling re-commenced on October 14, with 6 holes completed totalling 2,100 metres. Holes 11 to 14 were drilled to test the northern extent of the mineralized zone, while holes 15 and 16 were drilled to test high grade mineralization previously reported from hole PD-11 (completed in 1982). Mineralized intervals were noted in holes 14, 15 and 16, with high grade mineralization visually observed in holes 15 and 16, consisting of semi-massive chalcopyrite plus molybdenite over intervals up to 18 cm (7 inches) and massive chalcopyrite up to 6 cm thick. These short, high grade intervals are separated from one another by thick intervals (greater than 20 feet) of copper mineralization (grade to be determined), comprised of chalcopyrite (with traces of bornite) as weak disseminations and thin veinlets. Mineralization in hole 14 consists of three separate and distinct intervals up to approximately 80 feet (25 meters) thick with a higher mineralized vein density (per metre) than previously noted. The mineralization in holes 14 to 16 is also associated with stronger alteration and may indicate a position closer to a mineralizing source. In addition to drilling, the Company also completed further soil sampling and an Induced Potential (IP) survey. Two soil grids were completed on the property. Grid A is located immediately south of the McNulty Forest Service Road (FSR) over an area previously identified as having anomalous soil results. A total of 9 separate lines, approximately 1.7 km in length and oriented northwestsoutheast, were completed comprising approximately 15.3 line kilometres. Grid B was located over the area currently being drilled so as to assess the effectiveness of soils relative to sub-surface drill and IP information, as well as airborne geophysical results. Grid B consisted of 15 separate lines between 1.0 and 1.3 km in length, oriented east-west, totalling approximately 16.5 line kilometres. During the 2006 field season, a total of 1,388 soil and silt samples were recovered from the property, taken at 50 m spacings on lines separated by 100 m. Individual samples were collected from the “B”horizon, placed in bags and submitted to Acme Analytical Laboratories Ltd. for Group 1DX (39 element ICP) analysis, using SS80 sample preparation. The last set of analyses have just been received by the Company and are currently being reviewed and evaluated. On a preliminary basis, the soils from Grid A document anomalous copper (Cu), molybdenum (Mo) and tungsten (W) values on the two southwesterly lines, having maximum values to 400 ppm Cu, 101 ppm Mo and 5 ppm W. Cu, Mo and W returned anomalous to highly anomalous values throughout. Molybdenum results appear to define a north-northwesterly trending zone of background to weakly anomalous results located along the western fringe of the current area of drilling. On the basis of these data, further soil sampling is proposed to the west of Grid B and southwest of Grid A so as to potentially develop an apparent geochemically anomalous area beyond the limits of the current grids. Copper, molybdenum and tungsten results from Grid B document moderately to strongly anomalous values throughout the entire 1.0 to 1.3 km east-west by 1.5 km north-south extent of the grid. Copper values to 1,636 ppm, Mo to 100 ppm and W to 27 ppm were documented, with high grade results (Cu greater than 50 ppm, Mo greater than 10 and W greater than 5 ppm) preferentially located east of the north-south access road utilized for the Company’s 2005 and 2006 drill programs. A high grade zone of anomalous Cu + Mo + W extends from the southern edge of the grid approximately 1.3 km north and is up to 400 m wide. The zone is open to the south, beyond the southernmost line completed which documents anomalous Cu + Mo + W over 400 metres, having values to 480 ppm Cu, 41 ppm Mo and 1.1 ppm W. Several relatively high grade gold values were also documented up to 148.8 ppb. Drilling to date has tested the southern third of the area of anomalously high grade soils. Furthermore, all holes have been collared on existing roads and generally drilled toward azimuth 050 degrees (northeast). Therefore, the majority of the area of anomalous soils remains untested, particularly to the north and east. Further soil sampling is required to the south to close the surface soil anomaly currently defined. On the basis of these preliminary results, the area currently drilled (identified on the basis of previous soil and drill results from 1982) appears to be located along the western fringe of higher grade mineralization (given that surface soil results are higher along the road and to the east). This interpretation appears to be supported by visual examination of holes 15 and 16, which recovered several short intervals of high grade, semi-massive to massive chalcopyrite (as briefly described above) in association with better developed chloritic and potassic alteration. Assay results should be available within a few weeks and will be reported by the company. An IP survey was also completed on Grid B between October 17 and November 4. SJ Geophysics Ltd. of Delta, BC. A total of 16.5 line kilometres were surveyed with results anticipated in the next several weeks. In general, results reported from the property consistently document anomalous copper (Cu) +/molybdenum (Mo) +/- gold (Au) +/- silver (Au) over a considerable portion of the property. The ongoing objective of the Company’s exploration program is to locate, and define, a coppermolybdenum, silver, gold porphyry style deposit. This press release has been prepared by Richard T. Walker, B.Sc., M .Sc., P. Geo., the “Qualified Person” under National Instrument 43-101. - 30 - The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For further information contact: |