April 10, 2006 09:00 ET

JAG Acquires Permits to Explore for Oil and Natural Gas in Quebec

MONTREAL, QUEBEC--(CCNMatthews - April 10, 2006) - J.A.G. Mines Ltd. (TSX VENTURE:JML) is pleased to announce that it has obtained 16 oil and natural gas exploration permits from the Ministere des Ressources naturelles et de la Faune du Quebec - Direction generale du developpement des hydrocarbures. These permits cover an area of 332,790 hectares in three regions previously identified by the Company's advisors.

Nine permits have been granted for an area of 193,587 hectares in the Bas St-Laurent-Temiscouata region, five permits for 99,945 hectares in the western portion of the Lac St-Jean area and two permits for 39,258 hectares in the Charlevoix region. The annual statutory obligations to maintain the permits consist of $166,395 in exploration work and $33,279 in rental payments.

These acquisitions could potentially signify a change of business for the Company, subject to shareholder approval at the appropriate time. JAG will soon grant a mandate for a technical report on the three properties, to include recommendations on work to be carried out over the next two years and the related budget estimates. The report should be completed around mid-June, at which time JAG will indicate its intentions with regard to this area of exploration along with any related budgets to be allocated. JAG must also comply with the TSX's Policy 2.1 on minimum listing requirements.

JAG continues to be active on its mining properties, particularly the Belleterre gold properties in Temiscamingue, where exploration will resume this year. The property is well located in an area that has seen considerable activity in recent years by companies searching for gold and diamonds. Meanwhile, Britannica will fund $300,000 on exploration on the Company's Malartic property this year and $1.5 million over the next three years. The Malartic property also has good gold potential, being located in the Blake River formation, which hosts known mines such as Doyon, Bousquet and La Ronde, and near Agnico Eagle's Lapa zone.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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