Jasper Mining Corporation To Raise $50,000 By Way Of Private Placement

Trading Symbol: TSX-V: JSP

CALGARY, Oct. 16, 2012 /CNW/ - Jasper Mining Corporation ("Jasper") (TSX-V:JSP) is pleased to announce a non-brokered private placement of $50,000 through the sale of 500,000 hard dollar units at $0.10 per unit.  Each unit will consist of 1 common share and ½ common share purchase warrant with a term of 24 months, and an exercise price of $0.20.  The common shares and warrants will have a hold period of four months.

The private placement will result in the issuance of 500,000 common shares, and 250,000 share purchase warrants.

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]