September 29, 2010 16:49 ET

Olitra Inc : Important Nomination to the Board of Directors and to the Technical Advisory Committee

Private Quebec Oil and Gaz Exploration Subsidiary of JAG Mines

MONTREAL, QUEBEC--(Marketwire - Sept. 29, 2010) - JAG MINES (TSX VENTURE:JML) wishes to announce the nomination of four Directors to the Board of its Quebec Oil and Gas exploration subsidiary, OLITRA inc. Charles Alexander, P. Eng., Jean Desmarais and Henri Jarque are joining Pierre Gévry, President of JAG, to form this subsidiary's Board of Director. Eric Tremblay, P. Eng., is nominated as Chairman of the company's Technical Advisory Committee.

Board of Directors

Charles Alexander, B. Sc., P. Eng, MBA., is a senior business executive with 25 years of experience leading rapidly-growing entrepreneurial firms within the software, publishing, and consumer goods sectors, as well as contributing to the growth and strategic direction of large well-established public companies in the construction, finance and energy industries.

Mr. Alexander is currently employed with the CANAM Group (TMX: CAM) as Director of Business and Strategic Development, responsible for the firm's Green Building offering, corporate partnerships and sustainable development initiatives.

Prior to CANAM, Mr. Alexander was Senior Partner with the private equity firm XLCAP Investments where he was responsible for investing in and managing numerous high-growth small and medium-sized businesses. Mr. Alexander remains active as a Board Member with a number of these firms.

Prior to XLCAP, Mr. Alexander held executive positions with Nstein Technologies (TSX-V:EIN) as VP Sales and Marketing, and with IronHorse as President and CEO.

Mr. Alexander began his career working as a Civil Engineer for Montreal Engineering Co, followed by Canadian National (TMX:"CN") and Export Development Corporation – chiefly on large energy projects in Canada and the Middle East.

Jean Desmarais has an extensive experience in the Securities industry. He holds his Securities Partner, Director and Officer ("PDO") license as well as his Option Supervisor license. He was an Investment Adviser since 1997, initially with BMO Nesbitt Burns, before becoming Vice-President and Branch Manager with Valeurs Mobilières Desjardins until Agust 2009. As part of his activities he assisted a number of corporations in various industries in raising financing and becoming publicly listed. Mr. Desmarais has an extensive knowledge of Corporate Finance as well as various activities related to this field. He is the President of Amseco Exploration Ltd. (TSX-Venture Exchange : « AEL ») an junior mineral exploration corporation.

Henri Jarque, graduated from Université Laval where he obtained his Masters in International Relations in 1991. He worked at the Department of External Affairs-Canada in the negotiation team and helped in implementing various International Trade Agreements including NAFTA. He then assisted in the organization of various projects promoting sustainable energy development in a number of developing countries. Mr. Jarque has been an Institutional Affairs and International Relations advisor for the Executive of Hydro-Québec since 2000 where he has been involved in a number of national and international files. He was seconded by Hydro-Québec as Program Director to the "World Energy Conference" held in mid-September 2010 in Montréal, QC.

Technical Advisory Committee:

Eric Tremblay, B. Sc., P. Eng., President and Chief Executive Officer Aston Hill (TSX-Venture Exchange : « AHF») since 2006. This Corporation acts as an Institutional Investment Manager in the Energy field with priority given to Oil and Gas investments. He graduated from Ryerson University, Toronto, On, with a Bachelor in Engineering, aerospace. He started his career as aeronautic engineer between 1986 and 1993 with Boeing Airplane Company and Canadair. He worked at British Petroleum before joining Enerplus Inc. in 1993 as Manager Corporate Development, and eventually became Senior Vice-President-Capital Markets, until 2005. He was a Board Member of Enermark Inc., a publicly listed corporation from January 2001 to 2005.


Since April 2006, JAG has held Oil and Gas exploration permits covering a total area of 332,790 hectares spread in three regions of Quebec: Témiscouata, Lac St-Jean and Charlevoix. During 2010, JAG transferred to Olitra title to the properties in exchange for 32,474,440 million shares of this corporation.

The Témiscouata property is part of the Appalachian Sedimentary Bassin (Lower St-Lawrence-Gaspé) and to date remains largely unexplored for its hydrocarbon potential. Surface geology shows evidence of potential structural traps and a succession of diversified sedimentary rocks, Shales, sandstone and carbonated rocks which could host potential oil and gas reservoir which led to JAG acquiring an interest in the area.

The Lac-St-Jean and Charlevoix properties are part of the Lower St-Lawrence Lowlands covering a sequence of sedimentary rocks sequences which are stratigraphically equivalent to the Trenton limestone and the Utica Shales.

More than $2 million has been invested to date in exploration on these properties since their acquisition. The exploration is lead by Dr. Marc Richer-Laflèche, P. Geo. and Professor at «Institut National de la Recherche Scientifique de Québec». The results obtained to date seem to indicate the presence of conventional natural on the Temiscouata property, and the presence of conventional natural gaz and liquid hydrocarbons on the Charlevoix and Lac St-Jean properties.

The geological portion of this press release was written by Geneviève Camiré, geologist, and reviewed by Dr. Marc Richer-LaFlèche, P. Geo., a qualified person under NI 51-101.

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

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