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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 October 25, 2006 PRESS RELEASE JASPER MINING CORPORATION COMMENCES IP GEOPHYSICAL SURVEY ON ISINTOK PROPERTY The Company’s diamond drill results from the property continue to document copper (Cu) +/molybdenum (Mo) +/- gold (Au) +/- silver (Ag) from the area of current interest. A total of 63 percussion and diamond drill holes have been documented on the property, with 28 percussion or diamond drill holes in the area of interest, which extends 960 m north-south by 440 m east-west. Drilling has begun on the second phase of the 2006 exploration program. Upon conclusion of the second phase of drilling, if all holes are drilled as planned, the area tested by the Company would extend approximately 930 m north-south by 270 m east-west. The proposed IP survey consists of a total of approximately 16 line km, oriented east-west over the area of current interest, as defined by sub-surface mineralization documented in 28 percussion and diamond drill holes, located on the fringe of coincident magnetic and resistivity anomalies. The survey will extend eastward from a prominent magnetic high (tested by drill holes ISIN-06-1-09 and 10) approximately 800 m east, with the 5 northern lines approximately 1.4 km in length. The proposed survey extends from regions characterized by magnetic lows into, and through, magnetic highs and back into magnetic lows from east to west for the upper 5 lines. The remaining 10 lines extend from magnetic lows on the east and terminate at the western edge of the prominent magnetic high. Management believes the areas characterized by prominent magnetic highs are younger intrusive phases overlying older, more altered and potentially mineralized phases. The IP survey is anticipated to “see” to a depth of approximately 300 m vertically below surface. Ideally, the results of the IP survey are expected to allow identification of the extents of sub-surface mineralization and possible areas of higher grade mineralization on which to focus subsequent drill programs. In addition, the Company has re-mobilized its soil crew to extend the soil grid in the area of interest farther to the west and north so as to encompass the surface extent of anomalous soil results. The previous grid documented a number of highly anomalous values (including copper to 1635 ppm) at surface on the east edge of the grid. The grid is being extended approximately 600 metres east, with the entire grid extending another 300 m north. Once completed, the grid will have been covered by the proposed IP survey and have complete soil coverage with which to compare to the airborne geophysical results (see Press Release dated June 21, 2006) and sub-surface drill results. The anticipated outcome of an analysis of these data is a better understanding of the controls on mineralization and optimum sub-surface locations for subsequent diamond drilling. The IP survey is expected to be completed in approximately two weeks, with the soil program completed a week to ten days later. The final results of these programs are expected by the end of November. The Company continues to be very encouraged by results on our ISINTOK property, which continue to document anomalous copper-molybdenum +/- silver +/- gold porphyry style mineralization. Holes ISIN-06-09 and 10 represent the deepest holes completed on the property to date and documented anomalous mineralization at depth. Mineralization currently identified remains open at depth and in all directions (north/south/east/west). 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: |