Jasper Mining Corporation Raises $797,000 by way of private placement

CALGARY, Feb. 10 /CNW/ - Jasper Mining Corporation (the "Company") is pleased to announce a non-brokered private placement of $797,000 through the sale of 3,188,000 hard dollar units at $0.25 per unit. Each unit will consist of 1 common share and 1/2 common share purchase warrant with a term of 24 months, and an exercise price of $0.35. The common shares and warrants will have a hold period of four
months.

The private placement will result in the issuance of 3,188,000 common shares, and 1,594,000 share purchase warrants.

A finders fee of 6% will be payable and the Company will grant a finder's fee option equal to 6% of the total number of units subscribed for, at an exercise price of $0.35 with a term of 18 months.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



For further information:

Gordon F. Dixon, Q.C., President
Jasper Mining Corporation
Telephone: (403) 297-9483
Fax: (403) 266-1487
e-mail: gdixon43@telus.net
www.jaspermining.com