Owner
Post by Franko10 ™ on Mar 2, 2005 9:35:05 GMT -5
NOVEMBER 21, 2003
J-PACIFIC COMPLETES PURCHASE OF BLACKDOME GOLD MINE
J-Pacific Gold Inc. is pleased to announce that it has completed the purchase of the remaining 50% interest in No. 75 Corporate Ventures Ltd., which owns the Blackdome Gold Mine project from Jipangu Inc. of Tokyo with the payment of C$600,000 and the issuance of 1,500,000 J-Pacific common shares. Through this wholly owned subsidiary, J-Pacific now has a 100% ownership interest in the Blackdome Gold Mine.
The Blackdome Gold Mine is located in the Clinton Mining District of British Columbia approximately 250 kilometers (155 miles) north of Vancouver and 70 kilometers (45 miles) west northwest of the town of Clinton. The property consists of 27 mineral claims totaling 258 units, 10 crown granted mineral claims totaling 169 hectares (417 acres), and two mining leases totaling 978 hectares (2,417 acres). The property has a modern, well-maintained flotation and gravity mill with a current capacity of 200 tons per day. All of the project’s mining permits are in good standing.
J-Pacific views the property as a long-term asset, with significant exploration potential to provide the additional gold resources needed to proceed to an independent feasibility study, as a precursor to any future production.
The shares issued to Jipangu Inc. are subject to a hold period and may not be traded in British Columbia until March 21, 2004, except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Nick Ferris -Telephone 1-888-236-5200.
J-PACIFIC COMPLETES PURCHASE OF BLACKDOME GOLD MINE
J-Pacific Gold Inc. is pleased to announce that it has completed the purchase of the remaining 50% interest in No. 75 Corporate Ventures Ltd., which owns the Blackdome Gold Mine project from Jipangu Inc. of Tokyo with the payment of C$600,000 and the issuance of 1,500,000 J-Pacific common shares. Through this wholly owned subsidiary, J-Pacific now has a 100% ownership interest in the Blackdome Gold Mine.
The Blackdome Gold Mine is located in the Clinton Mining District of British Columbia approximately 250 kilometers (155 miles) north of Vancouver and 70 kilometers (45 miles) west northwest of the town of Clinton. The property consists of 27 mineral claims totaling 258 units, 10 crown granted mineral claims totaling 169 hectares (417 acres), and two mining leases totaling 978 hectares (2,417 acres). The property has a modern, well-maintained flotation and gravity mill with a current capacity of 200 tons per day. All of the project’s mining permits are in good standing.
J-Pacific views the property as a long-term asset, with significant exploration potential to provide the additional gold resources needed to proceed to an independent feasibility study, as a precursor to any future production.
The shares issued to Jipangu Inc. are subject to a hold period and may not be traded in British Columbia until March 21, 2004, except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
On behalf of the Board of Directors,
“N. Ferris”<br>President and CEO
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
For further information, please contact Nick Ferris -Telephone 1-888-236-5200.
