Jasper Mining Corporation Closes $20,000 Private Placement

Trading Symbol: TSX-V: JSP

CALGARY, Oct. 24, 2016 /CNW/ - Jasper Mining Corporation ("Jasper") (TSX-V:JSP) is pleased to announce that it has completed a non-brokered private placement, as announced on October 17, 2016, and accordingly has issued 400,000 units at $0.05 per unit; for gross proceeds to the Company of $20,000.  Each unit will consist of 1 common share and 1 common share purchase warrant.  The warrants are at an exercise price of $0.10 and expire October 19, 2018.

The private placement resulted in the issuance of 400,000 common shares, and 400,000 share purchase warrants.  There was 1 subscriber to the private placement.

This is a non arms length issue at the current market price to 1 insider of Jasper Mining Corporation.

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.

SOURCE Jasper Mining Corporation

Gordon F. Dixon, Q.C., President, Jasper Mining Corporation, Telephone: [phone], Fax [phone], email: [email protected]