J-Pacific Gold Inc.
TSX VENTURE : JPN
OTC Bulletin Board : JPNJF

J-Pacific Gold Inc.

October 05, 2005 17:40 ET

J-Pacific Arranges Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2005) - J-Pacific Gold Inc. (the "Company") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce a private placement of 997,500 Units of the Company at a price of $0.35 per Unit for total proceeds of $349,125. Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.55 per share for a period of 24 months after the closing of the private placement. As a finder's fee, J-Pacific will issue warrants exercisable for a total amount of 85,800 common shares of J-Pacific at an exercise price of $0.55 per common share for a period of 24 months after the closing of the private placement. All securities issued will be subject to a four-month hold period. Proceeds from the financing will be applied to working capital.

The private placement is pursuant to a price reservation filed September 28, 2005 and 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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