October 15, 2009 14:17 ET

J.A.G. Mines Ltd. : Flow-through Private Placement of $300,000

MONTREAL, QUEBEC--(Marketwire - Oct. 15, 2009) - J.A.G. MINES LTD. (TSX VENTURE:JML) wishes to announce that it is proceeding with a private placement of a maximum of 100 units at $3,000 per unit for a total of $300,000. This placement is offered the "Qualified Investors" only. Each unit is made up of 20 000 flow-through common shares at $0.12 each; ii) 5,000 non flow-through common shares at $0.12 each and; iii) 12 500 share purchase warrants, each warrant entitling the holder to purchase one common share at $0.25 for a 12-month period.

Flow-through proceeds (80%) from the financing will be used for the Gold property in Belleterre (Temiscamingue). JAG is currently active on its property with a minimum of 4,000 meters drilling program.

Shares issued pursuant to the offering will be subject to a four-month hold period.

The company has no plan to pay any finder's fee on the transaction, which is subject to regulatory approval.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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