J.A.G. Mines Ltd.: Private Placement of Up to 250 000 $

J.A.G. MINES LTD. (TSX VENTURE:JML) announce that it is currently completing a
private placement in the amount of $250 000. This placement is being offered to
"Accredited Investors" in units of $0.05. Each unit is made up of:




--  1 class "A" shares at $0.05 per share, 
--  1/2 class "A" share purchase warrants, one warrant shall entitle the
    holder thereof to acquire one class "A" share of the Issuer at a price
    of $0.12 until the date which is twelve (12) month following the Closing
    date.



The Private Placement proceeds will be for the Corporation working capital
requirements.


The shares issued under the terms of this placement are subject to a regulatory
hold period of four (4) months.


The company does not expect to pay any finder's fee for this placement. The
placement is subject to regulatory approvals.


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.


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