Jasper Mining Corporation Provides Update on Plan of Arrangement

Trading Symbol: TSX-V: JSP
News Release No. 16-274-07                                                                                   

CALGARY, Aug. 26, 2016 /CNW/ - Jasper Mining Corporation ("Jasper" or the "Company") (TSX-V:JSP) announces that the previously announced letter of intent ("LOI") with Tacitus Ventures Corp. ("Tacitus") and Delfan Energy Resources Corp ("Delfan") whereby Jasper would acquire all of the issued and outstanding common shares of Tacitus and Delfan in an all-stock transaction has expired and Tacitus and Delfan have stated that they will not extend time to complete the plan of arrangement. The previously announced concurrent private placement of subscription receipts has therefore been terminated.

Jasper's common shares were halted from trading in anticipation of the completion of the proposed business transaction. Jasper will work with the TSX Venture Exchange to restore the trading of its common shares.    

THE TSX VENTURE EXCHANGE HAS IN NO WAY PASSED UPON THE MERITS OF THE TRANSACTION AND HAS NEITHER APPROVED OR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.  NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE. 

SOURCE Jasper Mining Corporation

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