JASPER MINING CORPORATION
1020, 833 - 4TH AVENUE S.W.
CALGARY, ALBERTA, T2P 3T5
TELEPHONE: (403) 297-9480, FAX: (403) 266-1487
May 12, 2011
Trading Symbol: JSP (TSX-V)
News Release No. 11-238-09
JASPER MINING CORPORATION CLOSES $199,500 PRIVATE PLACEMENT
Jasper Mining Corporation (the “Company”)(TSX-V:JSP) is pleased to announce that it has completed a non-brokered private placement, as announced on May 5, 2011, and accordingly has issued 767,308 units of the Company at a price of $0.26 per unit; for gross proceeds to the Company of $199,500. Each unit will consist of 1 common share and 1/2 common share purchase warrant. The warrants are at an exercise price of $0.45 and expire May 6, 2013.
The private placement has resulted in the issuance of 767,308 common shares, and 383,654 share purchase warrants. There were 3 subscribers to the private placement.
A finders fee of $8,970 will be paid to Anacort Capital Inc., being 6% of $149,500 and the Company will grant finder's fee warrants equal to 6% of 575,000 units subscribed for to Anacort Capital Inc. (34,500 warrants) at an exercise price of $0.45 with a term of 18 months.
All of the securities issued pursuant to this private placement are subject to a four month hold period.
This News Release is being issued in accordance with TSX Venture Exchange procedure which requires a News Release be made that discloses the material details of the private placement.
For further information contact:
Gordon F. Dixon, Q.C., President, Jasper Mining Corporation
Telephone (403) 297-9480, Fax (403) 266-1487,
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.