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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 March 27, 2007 PRESS RELEASE JASPER MINING CORPORATION - DIAMOND DRILL RESULTS FROM 2006 EXPLORATION PROGRAM ON ISINTOK PROPERTY A total of 16 diamond drill holes were completed during the 2006 field season in two phases, holes 1 through 10 during the summer and 11 through 16 in the fall. The holes were intended to continue the Company’s evaluation of sub-surface mineralization in an area identified from previous drill programs in 1982 and 1976-1979. The diamond drill program was previously reported (see Press Releases dated Dec. 12 and 13, 2006). Holes 15 and 16 were collared approximately 50 m south and north, respectively, of percussion hole PD-11, which documented 42.7 m of 0.28% copper and 315 ppm (0.0315 %) molybdenum. PD-11 is tentatively interpreted to have been drilled down, and within, a mineralized vein system and, therefore, to have been mineralized along virtually the entire length of the hole. Holes 15 and 16 were intended to document the same mineralized vein, drilling inclined holes from the west side of the road to the east, allowing a determination of its thickness and orientation. Hole 14 was drilled in an attempt to define one or more mineralized systems identified in, and farther to the north of, previous drilling. The hole did, indeed, intersect three visually identified, separate and distinct mineralized intervals, associated with stronger alteration. The Company has recently received and reviewed the results of holes ISIN -06-14 to 16. Weighted average results for select intervals are tabulated below: Hole 14
Hole 15
Hole 16
Management believes these results are very encouraging as they confirm sub-surface mineralization as documented by previous drill results, both from previous programs as well as those completed by the Company. Preliminary interpretation of drill results is interpreted to support a generally north-south trend to the mineralization, as documented by surface soils and an Induced Potential geophysical survey completed in 2006. Furthermore, elevated gold values (to 1,445 ppb over 0.66 m) were documented in the three holes relative to previous drilling which, taken together with variations in molybdenum content, may indicate possible zonation within the mineralized system documented to date, with elevated molybdenum in the southerly holes and elevated gold to the north. Furthermore, ISIN 06-14 had proportionately more chalcopyrite veinlets than any holes drilled by the Company to date. However, although more thin chalcopyrite veinlets were present, there were an insufficient number of thicker and/or higher grade intervals to bring the overall grade up to the target value of 0.11%. The weighted average grade of ISIN 06-14 was 0.042% copper over 496.93 m. Drilling to date has utilized the existing road network, with all holes drilled on, or west of, a north-south access road to the drill area. A high grade soil anomaly is located east of the road to the south and crosses the road at a shallow oblique angle to the north, passing across the road to the west side. As a result, the mineralized intercepts documented to date may represent lower grade mineralization on the west side of the mineralized zone, as defined by soil results. In 2007 the Company intends to extend surface soil sampling to the west and south of Grid B so as to tie in anomalous results at the grid boundaries with those documented on Grid A and along road traverses to the west. As previously reported (see Press release dated Dec. 12, 2006), the surface soil and IP anomaly identified on Grid B was approximately 400 m wide on the southernmost line of Grid B and remains open to the south. Additional soil sampling on Grid B will, therefore, be extended a further 500 m to the south (and possibly beyond dependent upon results once received). Given the mutually supporting surface soil and IP results for an anomalous zone underlying the road utilized for the drill program, the Company has proposed a diamond drill program to test the sub-surface underlying the road where surface soil and IP suggests the high grade core of the anomaly is situated. Based on an initial review of these data, management interprets drilling to date in this area to have been collared on lower grade fringes and the top of the anomaly and, for the most part, drilled away from the possible higher grade anomaly. If correct, this would explain higher grade mineralization documented in the near surface portion of most drill holes. This hypothesis comprises the basis for the proposed 2007 diamond drill program. Management is unreservedly encouraged by the results of the 2006 field program and, in particular, quantitative results of holes 14 through 16, together with surface soil and IP results. Further work will be completed on the property during the 2007 field season and will include expansion of the existing grids to the south west and northwest as well as additional diamond drilling. 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: |