Jalna Minerals Ltd.
NEX BOARD : JMA.H

Jalna Minerals Ltd.

October 16, 2007 09:00 ET

Jalna Minerals Ltd. Announces Flow-Through and Common Share Financing

KELOWNA, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2007) - Jalna Minerals Ltd. ("Jalna") (NEX:JMA.H) is pleased to announce a non-brokered private placement financing for total proceeds of up to C $1,000,000 to be used to finance the acquisition and development of the Nonacho Basin property previously announced on October 4, 2007.

The financing will consist of one common share at $0.25 per share up to a maximum of 2,000,000 shares, and one flow-through common share at $0.30 per share up to a maximum of 1,666,650 shares.

A finders fee of 7.5% will paid on gross proceeds from the offering in accordance with the policies of the exchange. The financing is subject to regulatory and TSX Venture Exchange approvals.

Jalna Minerals Ltd. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of mineral properties. Headquartered in Kelowna, British Columbia, Jalna's Common Shares are listed on the NEX Exchange under the symbol "JMA.H".

ON BEHALF OF THE BOARD

Devinder Randhawa, President, Chief Executive Officer

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the news release, which has been prepared by management.

Contact Information

  • Jalna Minerals Ltd.
    David Ward
    (250) 979-7022