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

J-Pacific Gold Inc.

November 10, 2005 11:00 ET

J-Pacific Extends Gold, Copper and Molybdenum Mineralization at the Elizabeth Southwest Gold Vein

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 10, 2005) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce the results from the 19-hole diamond drilling program that commenced in late June on the Southwest Gold Vein at the Elizabeth Property in the Lillooet Mining District of British Columbia. A total of 2,788 metres (9,145 feet) were drilled to test the continuity and the northern extent of the gold mineralization and the host structures in the Southwest Gold Vein, and to further define the gold distribution within the structures.

SUMMARY

The 2005 program intersected gold values throughout the Southwest Vein. Importantly, the drilling extended the northerly trending strike of the Southwest Vein by 240 metres (792 feet) for a total of approximately 620 metres (2,045 feet) and traced it over 286 metres (943 feet) vertically within the mountain. This substantially increases the known mineralized zone and advances the potential of calculating a gold resource. Some copper mineralization was anticipated, but the program produced interesting molybdenum values as well. The copper and molybdenum intersections returned values in excess of 0.5%, indicating the potential for additional porphyry copper targets on the property.

SIGNIFICANT GOLD INTERSECTIONS

The 2005 drill program tested the north and east extensions of the previously defined Southwest Vein. Drill holes were logged to identify hydrothermal pathways and the distribution of precious and base metals within the veins. Correlation on a larger scale was a focus of the program, incorporating the results from previous exploration programs, mapped vein exposures in two adits, and vein outcrop observations throughout the project area.

Fourteen holes intersected the principal vein zone target, and ten intersections returned significant gold values. Drill holes E05-20, E05-21, E05-28 and E05-35 failed to hit their targets due to technical difficulties. Intersections on the principal vein zone target returned assays up to 9.35 g (0.27 oz) Au/t over widths from 0.30 metres (1.0 foot) to nearly 5.0 metres (16 feet). One intersection of a quartz stringer returned a value of 68 g Au/t over 0.30 metres (1.98 oz Au/t over 1.0 foot).



---------------------------------------------------------------------
Intersection Gold Leng- Gold
DDH From To Length (g th (oz Interval
No. (metres) (metres) Au/t) (feet) Au/t) Description
---------------------------------------------------------------------
---------------------------------------------------------------------
E05-18 174.88 176.15 1.27 3.23 4.2 0.09 Quartz vein with
serpentinitic
character to
contacts; pyrite
and pyrrhotite
---------------------------------------------------------------------
E05-19 17.65 17.95 0.30 68.00 1.0 1.98 Quartz stringer
---------------------------------------------------------------------
E05-19 49.20 50.90 1.70 3.70 5.6 0.11 Quartz vein; two
phases of
secondary
silica
alteration;
pyrite
---------------------------------------------------------------------
E05-19 193.10 194.80 1.70 1.74 5.7 0.05 Quartz vein;
silica overprint
with pyrite
---------------------------------------------------------------------
Includes 193.10 194.00 0.90 3.15 3.1 0.09 Quartz vein,
oxidized, pyrite
in clear quartz
veinlets of a
later phase in
the same pathway
---------------------------------------------------------------------
E05-22 82.10 87.00 4.90 2.60 16.0 0.08 Quartz vein
---------------------------------------------------
Includes 82.10 83.40 1.30 2.88 4.3 0.08
---------------------------------------------------------------------
83.40 84.10 0.70 5.51 2.3 0.16 Quartz vein;
traces of pyrite
---------------------------------------------------
84.10 85.40 1.30 1.46 4.3 0.04
---------------------------------------------------
85.40 87.00 1.60 2.00 5.3 0.06
---------------------------------------------------------------------
E05-26 130.62 132.40 1.78 1.78 5.8 0.05 Quartz vein,
brecciated,
oxidized
---------------------------------------------------------------------
Includes 131.72 132.40 0.68 2.85 2.2 0.08 Trace Mo in
breccia
fragments
---------------------------------------------------------------------
E05-31 67.36 68.88 1.52 5.44 5.0 0.16 Quartz vein
---------------------------------------------------------------------
E05-31 72.00 73.00 1.00 6.35 3.3 0.19 Quartz vein
---------------------------------------------------------------------
E05-32 70.50 73.50 3.00 4.92 9.8 0.14 Quartz zone;
oxidized pyrite
---------------------------------------------------
Includes 71.50 72.50 1.00 9.35 3.3 0.27
---------------------------------------------------
72.50 73.50 1.00 4.35 3.3 0.13
---------------------------------------------------------------------
E05-36 180.06 180.60 0.54 1.25 1.8 0.04 Quartz stringer
with pyrite and
molybdenite
specks
---------------------------------------------------------------------


The Elizabeth Property is known to have a strong "coarse gold effect" and drill hole E05-19 exposed two grains of visible gold from 132.70 to 133.70 metres (437.9 to 441.2 feet) at 2,396 metres (7,907 feet) ASL. As a result, all samples were screened for metallics, in an effort to quantify any "nugget effect" of the vein system. Of special interest, drill hole E05-19 intersected a 78.65 metre (259.5 foot) wide hydrothermal alteration pathway from 197.75 to 276.40 metres (652.6 to 912.1 feet) that included extensive quartz stringers, parallel or at low-angles to the core axis, with extensive pervasive silicification.

SIGNIFICANT COPPER INTERSECTIONS

It is known that copper mineralization frequently occurs within mesothermal veins, as is the case at the Elizabeth Property. To test the idea of porphyry copper roots to this mineralization, drill holes E05-19 and E05-27 were completed through the mineralized zone at deeper levels.



--------------------------------------------------------------------
Intersection
DDH From To Length Length Cu
No. (metres) (metres) (feet) (%) Interval Description
--------------------------------------------------------------------
--------------------------------------------------------------------
E05-25 98.60 99.40 0.80 2.6 0.12 Low-angle silica
veinlets with pyrite,
chalcopyrite,
molybdenite
--------------------------------------------------------------------
E05-27 139.29 140.30 1.01 3.3 0.23 Disseminated
malachite grains on
fractures in altered
porphyry
--------------------------------------------------------------------
E05-27 191.87 192.24 0.37 1.2 0.19 Quartz stringer;
traces of
chalcopyrite and
malachite
--------------------------------------------------------------------
E05-27 192.97 193.98 1.01 3.3 0.29 As above but without
malachite.
--------------------------------------------------------------------
E05-27 204.56 205.21 0.65 2.1 0.11 Two quartz stringers
with masses of
chalcopyrite
--------------------------------------------------------------------
E05-27 245.60 246.11 0.51 1.7 0.64 Quartz vein with
disseminated
chalcopyrite, pyrite
and malachite
--------------------------------------------------------------------


The first significant evidence of copper mineralization was observed in drill hole E05-19 at depths between 239.92 and 252.58 metres (791.7 and 833.5 feet), between 2,159 and 2,170 metres (7,125 and 7,161 feet) ASL, with chalcopyrite, bornite and covellite in a major hydrothermal pathway. Significant copper intercepts occurred in drill holes E05-25 and E05-27, with values reaching 0.64% Cu over widths ranging from 0.37 to 1.01 metres (1.2 to 3.3 feet).

SIGNIFICANT MOLYBDENUM INTERSECTIONS

The 2005 drill program unexpectedly returned five potentially significant molybdenum intersections with values ranging up to 0.598% Mo vein widths up to 1.22 metres (4 feet). Interestingly, drill hole E05-25 intersected a 0.80 metre (2.6 feet) wide discrete molybdenite-rich quartz stringer at 2,318 metres (7,649 feet) ASL that assayed 0.522% Mo, and a subsidiary 0.84 metre (2.8 feet) zone of 0.117% Mo at 2,315 metres (7,640 feet) ASL.



---------------------------------------------------------------------
Intersection
DDH From To Length Length Mo
No. (metres) (metres) (feet) (%) Interval Description
---------------------------------------------------------------------
---------------------------------------------------------------------
E05-18 120.40 121.62 1.22 4.0 0.117 Quartz stringer;
pyrite
---------------------------------------------------------------------
E05-25 91.72 92.52 0.80 2.6 0.522 Clumpy molybdenite in
quartz stringer and
disseminated
molybdenite in
secondary silicified
phase
---------------------------------------------------------------------
E05-25 132.48 133.32 0.84 2.8 0.117 Quartz veinlets with
chalcopyrite and
molybdenite on
fractures
---------------------------------------------------------------------
E05-33 142.20 142.75 0.55 1.8 0.404 Quartz vein
---------------------------------------------------------------------
E05-35 68.37 69.13 0.76 2.5 0.198 Serpentinized
harzburgite
---------------------------------------------------------------------
E05-35 154.64 155.45 0.81 2.7 0.598 Serpentinite-
chlorite-talc altered
feldspar porphyry
----------------------------------------------
E05-35 175.22 175.58 0.36 1.2 0.166
---------------------------------------------------------------------


In addition, drill hole E05-33 hit a 0.55 metres (1.8 feet) discrete molybdenite-bearing quartz vein that assayed 0.404% Mo at 2,290 metres (7,557 feet) ASL, while drill hole E05-35 hit three molybdenum-rich zones: 0.76 metres (2.5 feet) grading 0.198% Mo at 2,213 metres (7,302 feet) ASL; 0.81 metres (2.5 feet) grading 0.598% Mo at 2,128 m (7,022 feet) ASL; and a 0.36 metre (1.2 feet) zone averaging 0.166% Mo at 2,121 metres (7,000 feet) ASL.

SOUTHWEST ZONE GOLD MINERALIZATION

The Southwest Gold Vein is the largest mineralized vein and could form the core of any eventual gold resource. However, quartz veins, veinlets, and stringers frequently occur in the predominant host rock lithology, a feldspar porphyry. Typically, wall rock silicification - which may contain clear and white quartz stringers, pyrite and arsenopyrite - occurs in the wallrock adjacent to the veins. The veins are variably mineralized with pyrite, chalcopyrite, molybdenite, arsenopyrite and visible gold.

Sampling and assaying of quartz veins was carried out when the veins were considered to be geologically significant or of apparent economic interest. In the following table, however, only the major vein targets are tabulated.



--------------------------------------------------------------------
Estim- Estim- Eleva-
ated ated tion
true true above
Intersection Thick- Thick- thick- thick- sea
DDH From To ness ness ness ness level
No. (metres) (metres) (feet) (metres) (feet) (metres)
--------------------------------------------------------------------
--------------------------------------------------------------------
E05-18 172.10 176.15 4.05 13.28 2.50 8.20 2,207
--------------------------------------------------------------------
E05-19 188.76 197.75 8.99 29.49 6.70 22.00 2,217
--------------------------------------------------------------------
E05-22 80.26 86.95 6.69 21.94 4.60 15.10 2,330
--------------------------------------------------------------------
E05-23 87.20 94.23 7.03 23.06 4.80 15.70 2,328
--------------------------------------------------------------------
E05-24 116.60 125.62 9.02 29.59 6.20 20.30 2,254
--------------------------------------------------------------------
E05-25 147.23 164.60 17.37 56.97 13.70 44.90 2,216
--------------------------------------------------------------------
E05-26 129.42 133.37 3.95 12.96 2.70 8.90 2,242
--------------------------------------------------------------------
E05-27 191.87 196.85 4.98 16.33 3.90 12.80 2,176
--------------------------------------------------------------------
E05-29 126.40 130.00 3.60 11.81 2.40 7.90 2,316
--------------------------------------------------------------------
E05-30 120.70 122.72 2.02 6.63 1.40 4.60 2,262
--------------------------------------------------------------------
E05-31 63.00 76.80 13.80 45.26 7.50 24.60 2,362
--------------------------------------------------------------------
E05-32 71.50 81.70 10.20 33.46 5.60 18.40 2,361
--------------------------------------------------------------------
E05-33 117.35 120.80 3.45 11.32 2.40 7.90 2,302
--------------------------------------------------------------------
E05-34 133.35 138.39 5.04 16.53 3.10 10.20 2,157
--------------------------------------------------------------------


FUTURE PLANS

Upon review of the final 2005 drilling campaign data, J-Pacific intends to have the 3-D model updated, which will allow for a better visualization of the structural continuity and assist in identifying and locating ore shoots. J-Pacific will review the results of the 2004 and 2005 programs, and evaluate the timeliness of a resource calculation.

Future exploration will likely concentrate on fill-in drilling to increase the confidence in the continuity of mineralization for a gold resource calculation, and drilling to further define the extent of the structure to the north and at depth. Drill targeting will include the evaluation of testing for a buried copper-molybdenum deposit. As well, plans will be evaluated for an airborne geophysical survey, and geologic mapping and geochemical sampling along the largely unexplored northwesterly trend toward the Poison Mountain porphyry copper deposit.

BACKGROUND

The Elizabeth Gold Property, consisting of 8,625 hectares (21,217 acres) of owned and optioned crown grants and mineral claims, is centrally located in prospective terrain 30 kilometres (18 miles) south-southwest of the permitted mill at the J-Pacific-owned Blackdome Gold Mine, and 30 kilometres (18 miles) north-northeast of the historic gold mining town of Bralorne, where over four million ounces of gold have been produced. Given the proximity to our permitted gold mill at the Blackdome Gold Mine, any eventual production from the Elizabeth Property could be accommodated at the Blackdome facility, and could be complimentary to any future production at Blackdome. The high grades identified in several veins and the property location makes the Elizabeth Property an attractive exploration target that can be rapidly advanced.

In 2002, J-Pacific's initial exploration program included geochemical sampling along extensive grids that returned significant high-grade gold anomalies over the Southwest Zone, and gold and copper anomalies over the No. 9 Vein Zone. During 2003, road building and trenching into these areas uncovered a large series of veins that demonstrated significant gold mineralization.

During 2004, J-Pacific completed an 18-hole drill program in two phases totalling 2,696 metres (8,845 feet). Very encouraging results from the 2004 drilling came from the Southwest Zone, as the drill program outlined well-mineralized gold-bearing structures over significant widths that appear to have continuity at depth. As well, the shallow holes in the No. 9 Zone encountered altered porphyry that returned low-grade copper and gold values. Highlights of the 2004 Southwest Zone drill program included intersections of 88.47 g Au/t over 2.0 metres (2.60 oz Au/t over 6.6 feet); 5.33 g Au/t over 7.85 metres (0.16 oz Au/t over 25.75 feet); 4.53 g Au/t over 4.5 metres (0.13 oz Au/t over 14.76 feet); and 20.0 g Au/t over 1.0 metres (0.65 oz Au/t over 3.3 feet).

QA/QC PROTOCOLS

Gregory Z. Mosher, P.Geo., of North Vancouver, B.C., a qualified person as defined by NI 43-101, was retained to carry out the program.

Eco Tech Laboratory Ltd. of Kamloops, B.C., carried out all the analytical work for the project. QA/QC protocols included secure sample storage, handling and shipping, and the use of sample standards and repeat analysis.

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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