J.A.G. MINES LTD.

J.A.G. MINES LTD.

February 24, 2005 09:00 ET

J.A.G. Mines Grants an Option for its Belleterre Gold Property


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: J.A.G. MINES LTD.

TSX VENTURE SYMBOL: JML

FEBRUARY 24, 2005 - 09:00 ET

J.A.G. Mines Grants an Option for its Belleterre Gold
Property

MONTREAL, QUEBEC--(CCNMatthews - Feb. 24, 2005) - J.A.G. (TSX
VENTURE:JML) wishes to announce that it has entered into an agreement
with Enviropave International Ltd. a North Vancouver company allowing it
to earn a 50% interest in the J.A.G.'s Belleterre Property located in
the Northwest quadrant of Guillet Township, at Belleterre, Temiscaming
Quebec.

This property is part of the "Belleterre-Angliers" volcanic-sedimentary
Greenstone Belt and encompasses 77 claims covering 1150 hectares
including the Aubelle Mine with its 550 feet deep 3 level vertical
shaft. Historically, 353,000 metric tonnes of open ore resources
grading 4.4 g/t Au, were calculated. More than 28 known gold bearing
veins lie on JAG's property.

Enviropave has the right to earn a 50% interest in the property by
making a cash payment of $50,000, issuing a total of 300,000 shares in
stages, and incurring $3,000,000. in expenditures on the property over 3
years with a minimum commitment of $500,000 in the first year.

It is intended that this agreement will qualify as Enviropave's
"Qualifying Transaction" as a capital pool corporation and it is
therefore, subject to the satisfaction and the requirements of Policy
2.4 of the TSX Venture Exchange.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    J.A.G.
    Pierre Gevry
    President
    (514) 849-7336
    (514) 849-9260 (FAX)
    st-jacques@qc.aira.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.