Cascade, British Columbia

The Cascade property, located approximately 55 kilometres north of the community of Kaslo, is comprised of approximately 1,545 ha (3,819 acres) on the west side of the Lardeau River. The claims are immediately south of Cream Minerals Ltd.’s Goldsmith property, from which a large number of high grade gold values have been previously reported from soil, chip and rock samples.

Cream Minerals reported 5% of soil samples collected in 2004 returned gold values in excess of 100 ppb, with one sample returning 19,662 ppb. A total of 22 chip and 27 rock (grab) samples were reported in their Feb. 14/05 Press Release, in which six grab samples were reported having visible gold, with values ranging between 0.11 and 9,901.79 g/t gold (Note: 9,901.79 g/t is equivalent to 0.99% gold or 288.81 oz/t). Of the 49 chip and rock samples reported, 44 returned values in excess of 1 g/t gold, with accompanying silver values to 619.5 g/t.

The Goldsmith property hosts a number of documented MINFILE occurrences and is described by Cream Minerals as hosting “... many veins and stockwork zones responsible for high grade gold mineralization ...”. In addition, “... additional historic workings were located and sampled with very encouraging results”. Their Oct. 11/05 Press Release describes the property as containing “... numerous historic, small scale, high-grade gold workings (Lucky Jack, Bullock, Swede, Goldsmith, Gold Park, etc.) throughout a 3-kilometre long belt of altered volcanic and sedimentary host rocks. High-grade gold mineralization in the historic workings is found in numerous quartz veins that range from a few centimetres to 5 metres in width. Also of interest “... are reports of gold values obtained from the sulphide-altered wall rock between and adjacent to the quartz veins. Reports from the early 1900s expound on the amount and size of free gold within the vein networks”.

The high grade gold and gold:silver ratios suggest an orogenic gold model in which gold is expected to be associated with second and third order faults and/or competent lithologies (phyllitic quartzite) within a less competent host (massive greenstone). In addition, the Cretaceous granodiorite may have contributed magmatic fluids into the adjacent host rocks, providing local metal enrichment in the thermal aureole.

The Cascade property is similarly interpreted to have Orogenic gold potential, possibly enhanced by magmatic fluids derived from the unnamed Cretaceous intrusion north of the Goldsmith property, from which a high proportion of soil samples returned gold values in excess of 100 ppb. In addition, high gold values and visible gold were documented from rock, chip and grab samples.

Mineralization is reportedly hosted by quartz veins, with some spectacular gold locally reported. The veins range from small, discontinuous lenses to veins up to 15 feet (less than 4 m) thick. There are at least two generations of veining evident, with one generation (comprising the larger, more continuous veins) sub-parallel to the regional trend and a second at a highly oblique angle. Intersections of the two sets of veins has apparently resulted in localized enrichment in gold.

Management believes the quartz veins hosting gold, as documented on the Goldsmith property, extend south onto the Cascade property, consistent with the mapped regional trend, with potential for identification of similar gold-bearing to gold-enriched values.

As a means of making a preliminary evaluation of the property, an initial soil program was completed on the property. A total of 255 soil samples were recovered from 5 soil lines located along roads oriented highly oblique to perpendicular to stratigraphy. The objective was to identify potential gold-bearing veins based upon the analytical results returned from the soils, for which anomalous results with maximum values and average values are as follows:

Copper less than 584 ppm avg 50-75 ppm
Lead less than 32 ppm avg. 8 ppm
Zinc less than 268 ppm 80-90 ppm
Gold less than 960 ppb 5-10 ppb

The majority of the anomalous results are located in the northern third of the property and will be the focus of follow-up work proposed for the 2007 field season, including additional soil sampling, prospecting and geological mapping. A permit was approved for drilling in 2006 and can be amended to allow drilling in 2007, if warranted.

Jasper Mining Corporation, trading symbol: JSP

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Cascade News Releases
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March 27, 2006: