June 11, 2008 09:00 ET

J.A.G. Mines Ltd.: Private Placement of $750,000

MONTREAL, QUEBEC--(Marketwire - June 11, 2008) - J.A.G. MINES LTD. (TSX VENTURE:JML) wishes to announce that it has closed a private placement today, for the expected maximum of $750,000. This private placement was addressed to qualified investors and implicated the issuance of a maximum of 3,000,000 shares at a price of $0.25 a share. A total of 1,500,000 warrants will also be issued and every unit will give the possibility to the holders, to buy a share at a fixed price of $0.35 for a 12-month period.

The proceeds from the $750,000 financing will be used for working capital.

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

Finder's fee will be payable on the transaction to :

Valeurs Mobilieres Desjardins : $10,000
Sediamek Inc. : $20,000
Financiere Banque Nationale : $2,250

The private placement was conditionally approved by the TSX.

About "J.A.G."

J.A.G. holds since April 2006, permits of research for oil and natural gas, covering an area of 332,790 hectares (932,000 acres) located in three regions of Quebec. More than $300,000 of exploration work was realized so far with the collaboration of geologists from l'Institut National de la Recherche Scientifique (INRS). J.A.G. is presently active on its properties.


The Company was active on its Belleterre project in 2007. A complete compilation from previous work done has been prepared by Mr. Jeff Ackert, qualified geologist, followed by a drilling program of 3,084.2 metres. We are still waiting for the report of the geologist. The Company will definitely be active in Belleterre in 2008. We plan a similar drilling campaign then the one of 2007.

TSX exchange does not accept any responsibility for the content or the veracity of the information contained in this release.

Contact Information