J-Pacific Gold Inc.
OTC Bulletin Board : JPNJF

J-Pacific Gold Inc.

May 23, 2006 15:15 ET

J-Pacific Arranges Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 23, 2006) - The Board of Directors of J-Pacific Gold Inc. (the "Company") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce that the Company intends to proceed with a private placement of up to 1,800,000 Units of the Company at a price of $0.35 per Unit for total proceeds of up to $630,000. Each Unit consists of one common share and one warrant entitling the holder to purchase one additional common share of the Company at a price of $0.50 per share for a period of 12 months after the closing of the private placement. The Company will, subject to TSX Venture Exchange approval, pay a finders fee of 88,500 Units.

All securities issued will be subject to a four-month hold period. The proceeds of the financing will be applied to working capital.

The private placement is subject to regulatory approval.

On behalf of the Board of Directors,

N. Ferris, President and CEO

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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