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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 September 4, 2008 NEWS RELEASE JASPER MINING CORPORATION - INITIAL DRILL RESULTS FROM 2008 EXPLORATION PROGRAM ON ISINTOK PROPERTY A total of 24 diamond drill holes have been completed to date as part of the 2008 exploration program, in addition to 16 holes completed during the 2006 field season. The holes continue the Company’s evaluation of sub-surface mineralization in the general area drilled in 1982 and 19761979 by previous operators. A summary of the Company’s results from the 2006 diamond drill program were previously reported (see Press Release dated April 9, 2007). In late 2006, the Company had an Induced Potential (IP) geophysical survey completed on the property. The results of the IP survey correlated very well with surface soil geochemical results and initial sub-surface drill results from 2006. The 2008 drill program is specifically intended to test a chargeability high defined by the IP anomaly. Holes 17 and 18 (continuing sequentially from the last hole (IS-06-16) from 2006) were collared from the same pad, located along the southern north - south oriented “tail” of the coincident IP / soil anomaly. Hole 17. Both holes were oriented toward azimuth 270, with Hole 17 at an inclination of -45 and Hole 18 at -60 degrees. The pad is located approximately 30 m east of the surface trace of the IP anomaly. The table on the following page is a compilation of high grade analytical results for copper +/molybdenum +/- silver +/- gold from the first two holes (IS-08-17 and 18) completed in 2008.
*The angle between the core axis and 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 returning in excess of 10,000 ppm copper were re-submitted for Group 7AR analysis. The sample that returned in excess of 10% copper was re-submitted for Group 7AR.1 re-analysis. Samples that returned Mo results greater than 2,000 ppm were re-submitted for Group 7KP - 0.50 gm analysis. 1 - Only single sample intervals having copper values greater than 0.3% were reported for Hole 18 in the table above. 2 - Conversion factor from Mo to MoS2 is 1.6681. Further sampling of the core from Hole 18 is being undertaken to assess background and lower grade mineralization in the intervals between those reported above. As a result, the 16.26 m (53.35 foot) high grade (1.5% Cu, 0.128% Mo) interval between 51.40 and 67.66 is expected to be extended over a larger composite width (with a corresponding reduction in grade) so as to identify a composite width returning an average copper grade in excess of an arbitrary cut-off of 0.2%. Initial visual observations of the drill core returned from the 2008 program has documented a greater proportion of both molybdenum and bornite relative to chalcopyrite in comparison to the 2006 program. Trace to minor bornite was noted in the core from the 2006 program. In contrast, bornite has been documented in virtually every hole completed in 2008. Furthermore, fracture coatings and thin veinlets comprised exclusively of bornite have been documented in several of the holes, particularly the recent holes completed in the past week. The apparent increase in bornite content, particularly the presence of veins comprised dominantly to exclusively of bornite, is interpreted to indicate proximity to a relatively high grade copper-bearing portion of the host porphyry. In addition, molybdenum was documented in several holes from 2006, however, its erratic occurrence was interpreted to indicate a possible mineral zonation between chalcopyrite and molybdenite. In contrast, moderately to highly anomalous molybdenum has been visually and, in the case of holes 17 and 18, analytically documented in the 2008 drill holes. Molybdenum grades to 0.667% Mo (1.113% MoS2) have been documented over single samples widths of 1.52 metres, with a grade of 0.128 over 16.26 metres. Finally, elevated to highly anomalous analytical results for both silver and gold were also documented in 2006 but due to their highly erratic values were not reported. Although there is considerable variation in analytical results over a composite width (see preceding table), it is evident that values are moderately to very highly anomalous. Management is very excited with these preliminary results from the first two holes drilled in 2008 to test the IP anomaly. Furthermore, management believes these results are very encouraging as they confirm sub-surface mineralization as documented by previous drill results, although at higher grades, with highly anomalous, multi-element values over relatively thick intervals. Preliminary interpretation of visual and initial quantitative analytical sub-surface drill results are interpreted to support a generally north-south trend to mineralization, as documented by surface soils and the Induced Potential (IP) geophysical survey completed in 2006. Drilling to date has utilized the existing road network, with all holes drilled on a predominantly north-south access road to the drill area. The structural control to mineralization is interpreted to dip moderately to steeply to the west. Holes IS-08-17 and 18 were drilled east of the anomaly at both a moderate (-45) and steep (-60) inclination to the coincident surface soil and IP anomaly. As a result, the overall grade is interpreted to be reduced due to dilution incurred by a drill intercept at a shallow to moderate angle to the fractures controlling (hosting) mineralization. Holes drilled on the west side of the coincident anomaly are expected to return a greater vein (mineralized fracture) density with coincident higher grades. Management is unreservedly encouraged by these initial results of the 2008 field program, confirming surface soil and IP survey results. Further drilling has been completed, and continues, on the property as part of the 2008 field season and will be reported as further results are received. This news 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. |