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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 May 26, 2008 NEWS RELEASE JASPER MINING CORPORATION ANNOUNCES FURTHER HIGH GRADE ANALYTICAL RESULTS FROM MCFARLANE PROPERTY Table 1
* Drill intercepts with veins were all at an inclined angle and so widths are not true widths Core in each 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 that returned Mo results greater than 2,000 ppm were re-submitted for re-analysis. Group 7KP - 0.50 gm analysis was utilized for more quantitative determination of high grade Mo results. 1 - Results from several additional samples from Hole 10 were recently received 2 - Quantitative Group 7KP re-analysis results pending Of the six new holes released above, a total of 95 samples (in addition to those reported above) returned Mo (Note: values reported as Mo, not MoS2) values greater than 100 ppm. The preceding tabulation includes only mineralized intercepts having an analytical value in excess of 1000 ppm (0.1 %) Mo. Intervals for which an average grade has been determined for a contiguous series of multiple samples are highlighted in bold. The current high priority drill target is a vein system, consisting of at least two relatively thick molybdenite-bearing quartz veins and/or vein systems occurring between the two adits comprising the Ben Derby MINFILE occurrence. The two adits are separated by approximately 500 m map distance. The veins exposed within the adits are up to 1.5 m thick (estimated true thickness - Ben Derby adit) and generally contain highly anomalous molybdenite in association with very coarsegrained pyrite (to five cm in long dimension) and variable sericitic alteration. Hole 33 was drilled from the same pad as Holes 31 to 36 (see News Releases dated May 2 and May 6, 2008) but was drilled at a different azimuth and/or inclination. Hole 39 was drilled southwest of the eastern adit, from the same pad as Hole 38 (see News Release dated May 6, 2008). Holes 41 and 42, inclination -45 degrees and -60 degrees respectively, were drilled from the same pad as Hole 37, however, at the opposite azimuth (i.e. to the northwest). Hole 56 was drilled from a pad approximately 280 m north of Holes 31 to 36. Hole 63 was drilled from a pad approximately 200 m east of Hole 56 and 120 m north of Holes 37, 41 and 42. All holes were intended to identify additional mineralized veins associated with the vein system exposed by the adit. The pads from Drill core recovered from the program continues to be evaluated and sampled, with samples submitted for analysis to Acme Laboratories Ltd in Vancouver, BC. Quantitative analytical results will continue to be released as received and evaluated by the Company. Jasper management is encouraged with the McFarlane drilling results and expects to have sufficient information to have an independent resource evaluation prepared for the property. The property is adjacent to and is contiguous with the Company’s Lydy property. Together the Lydy and McFarlane properties comprise a composite property of 4,259 ha (10,524 acres), encompassing an area 11 km east-west by 4 km north-south. Both the Lydy and McFarlane properties are 100% owned by the Company with potential for molybdenum plus copper plus/minus gold mineralization. This press release has been prepared by Richard T. Walker, B.Sc., M .Sc., P. Geo., the “Qualified Person” under National Instrument 43-101. For further information contact: - 30 - The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |