Jetcom Inc.

Jetcom Inc.

April 13, 2007 08:00 ET

Jetcom Options Additional Interests in Quebec

TORONTO, ONTARIO--(CCNMatthews - April 13, 2007) - Jetcom Inc. (TSX VENTURE:JTM)(FRANKFURT:YGH), is pleased to announce it has signed an option agreement to acquire 6 mining claims in the Lac a David, Saguenay area of Quebec located in the township of Dumas. The Company has been granted the exclusive and irrevocable option to purchase a 100% interest in the claims. The Property has been under private ownership for over 12 years. Exploration has taken place over this period including airborne geophysical and ground surveys, geochemical surveys, trenching, stripping, assaying and petrographic studies. Values of platinum, palladium and gold were obtained in the conduct of such studies.

This transaction is subject to TSX Venture Exchange approval and review in connection to the change of business submission pursuant to TSX policy 5.2

The technical and exploration information in this press release was reviewed and approved by Edwin Gaucher, P.Ing., Ph.D. in his capacity as a Qualified Person (Q.P.).

Mr. Gaucher examined a report by Virginia Mines, written in January 2003 by Mathieu Savard, today an experienced geologist still working for Virginia Mines. Based on his examination Mr. Gaucher reports the following: "The report has been submitted to the MRN-Geoinformation and carried the number GM 60044. The report covers a large area which includes a group of 6 claims registered in the name of Nicolas Lavoie. The claims, numbered CDC1012416 to 1012421 , are renewed until 2008.

In the middle of claim 1012422, the above report describes the works completed by Virginia on a PGM showing previously discovered by a prospector. Five parallel trenches separated by some 25 meters were dug by a power shovel. Altered pyroxenite encountered in the three middle trenches were channel sampled. Three intervals in the middle trench over a distance of 14 meters assayed 2.12 g/t PGM and gold over 7.55 meters, 1.08 g/t PGM and gold over 3.25 meters. Smaller values in the two adjoining trenches suggest a lateral extension of the favourable horizon.

The assays were done by fusion by Chimitec Bondar Clegg, a reputable Canadian laboratory. The average grade in the middle trench is quite reliable, as the content of Au, Pt and Pd is reasonably uniform grade in the 15 individual one-meter wide channel samples assayed.

The examination of this showing was perhaps interrupted by Virginia, as no other occurrence of the favourable pyroxenite was discovered neither in the last two trenches nor in a large area around the showing. Such a decision was in my opinion perhaps premature: such a valid showing should be further stripped, trenched at the right angle to the existing ones. Then, a few DDH should check the possible vertical extent of the mineralization."

The total purchase price is payable in cash, shares and a work commitment over the next four (4) years. Payment of $1,000 upon signing. An additional payment of $6,000 in cash by May 15, 2007 plus 50,000 common shares of Jetcom. An additional payment of $12,000 in cash by May 15, 2008 plus 50,000 shares. An additional payment of $18,000 in cash by May 15, 2009 plus 50,000 shares and an additional payment of $24,000 in cash plus 50,000 shares by May 15, 2010.

The work commitment is as follows: Completion of exploration work in the amount of $18,000 by May 15, 2008. In addition, Completion of exploration work in the amount of $30,000 by May 15, 2009. In addition, Completion of exploration work in the amount of $36,000 by May 15, 2010 and completion of exploration work in the amount of $48,000 by May 15, 2011.

About Jetcom Inc.:

Jetcom is a holding company with a proposed transaction for uranium exploration properties through its wholly owned subsidiary Yellowcake Resources Inc. whereby the Company has been granted an option to purchase a 100% interest in 23 uranium claims totaling 3100 acres in the Campbell's Bay area of Quebec (see press release dated Nov. 15, 2006). It also has interests in satellite television programming and telehealth technology. More information can be found on the SEDAR website at

Corporate update:

The Company is continuing to work with the TSX Venture Exchange ("TSXV") regarding its submission pursuant to TSXV Policy 5.2

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular or Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the COB may not be accurate or complete and should not be relied upon. Trading in the securities of Jetcom Inc. should be considered highly speculative.


Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. The Company does not undertake any obligation to publicly update or revise any forward-looking statements. The Company advises that these forward-looking statements are based on information provided to the Company by the proposed vendors and the Company has not conducted any work to independently verify the results reported.

Jetcom Inc. has 38,765,971 outstanding common shares.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Jetcom Inc.
    Rich Kaiser
    Investor Relations
    Jetcom Inc.
    A. G. Dragone
    (416) 447-4884
    (416) 447-8868 (FAX)