11/20/2006- Closes Final Tranche of PP

[Franko10 ™]

J-Pacific Closes Final Tranche of Private Placement

10:56 EST Monday, November 20, 2006

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 20, 2006) - J-Pacific Gold Inc. ("J-Pacific" or the "Company") (TSX VENTURE:JPN)(OTCBB:JPNJF) is pleased to announce that further to its news releases dated October 16th and October 25th it has closed the final tranche of its non-brokered private placement. The Company has issued 2,000,572 units (the "Units") a price of $0.35 per Unit and 3,375,000 flow through units ("FT Units") at a price of $0.40 per FT Unit for gross proceeds of $2,050,200. On October 25th the Company announced the closing of the first tranche of the private placement for gross proceeds of $2,351,125. Each Unit consists of one common share and one warrant (a "Warrant"), which will entitle the holder to purchase one additional common share at a price of $0.55 per share for a period of 24 months after the closing of the private placement. Each FT Unit will consist of one common share, which will qualify as a "flow-through share" for the purposes of the Income Tax Act (Canada) and one Warrant. The Company has paid a finder's and administration fee to certain finders in the total amount of $129,111 and has issued 100,000 finder's warrants. Each finder's warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.55 per share for a period of 24 months after the closing of the private placement.

All securities issued will be subject to a four-month hold period. The proceeds of the financing will be used to pursue exploration programs on J-Pacific's Blackdome, Elizabeth, Montgolfier and Callaghan projects and for corporate working capital. The proceeds from the sale of the FT Units will be used for exploration expenses that will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2006 taxation year.

On behalf of the Board of Directors,

Nick Ferris, Chairman

Statements in this press release, other than statements of historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, some of which are described below. Such forward-looking statements include comments regarding the establishment and estimates of mineral reserves (and non-reserve mineralized material), future increases in mineral reserves, the recovery of any mineral reserves, construction cost estimates, construction completion dates, equipment requirements and costs, production, production commencement dates, grade, processing capacity, potential mine life, results of feasibility studies, development, costs and expenditures. Factors that could cause actual results to differ materially include timing of and unexpected events during construction, expansion and start-up; variations in ore grade, tons mined, crushed or milled; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms for equipment, construction, working capital and other purposes; the availability of adequate power and water supplies; the availability of adequate mining equipment; technical, permitting, mining or processing issues; and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management.

The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC) over the past 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.

FOR FURTHER INFORMATION PLEASE CONTACT:

J-Pacific Gold Inc.
Nick Ferris
Chairman
[phone]
or
J-Pacific Gold Inc.
Michael Michaud
President and CEO
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.jpgold.com
or
Marston Webb International - Media Inquiries
Victor Webb
[phone]
or
Marston Webb International - Media Inquiries
Madlene Olson
[phone]
[phone] (FAX)
Email: [e-mail]

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.