CORRECTION FROM SOURCE/J.A.G. Mines Ltd.: Final Closing $340,000 Private Placement Amended

This document corrects and replaces the press release that was sent on January 8
at 9 AM EST.


J.A.G. MINES LTD. (TSX VENTURE:JML) has completed the private placement
announced in November 2012 for a total amount of $340,000. This placement was
offered to "Accredited Investors" in units of $5,000, the share price was $0.10
per share. 3,400,000 Class A shares were issued under this private placement
including 2,720,000 in the form of flow-through shares. In addition, 1,700,000
warrants were also issued, each warrant will entitle the holder thereof to
acquire one share of the Issuer (on a non-flow-through basis) at a price of
$0.20 for a period of twelve (12) months following the Closing date.


Shares issued pursuant to the offering will be subject to a four (4) month hold
period. No commissions or finder's fees were paid under the offering. Three (3)
insiders of JAG subscribed a total amount of $105 000 for approximately 31% of
the private placement.


The proceeds (80%) will be used for exploration expenditures on JAG's Properties
in Belleterre-Temiscamingue and St-Robert-Beauce. A drilling campaign is
presently underway in St-Robert. The objective is to drill a minimum of 2,500
meters on this property where historic values have been identified in gold,
silver, zinc and tungsten.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pierre Gevry, President
514-849-7336
514-849-9260 (FAX)
[e-mail]
www.minesjag.com