J.A.G. Mines Ltd.: Private Placement of $750,000

Thu May 22, 12:11 PM

MONTREAL, QUEBEC--(Marketwire - May 22, 2008) - J.A.G. MINES LTD. (TSX VENTURE: JML.V) wishes to announce that it is proceeding with a private placement of a maximum of 150 units at $5,000 per unit.

Each unit is made up of 20,000 common shares at $0.25 each and 10 000 share purchase warrants, each warrant entitling the holder to purchase one common share at $0.35 for a 12-month period.

Proceeds from the financing will be used for working capital.

Shares issued pursuant to the offering will be subject to a four-month hold period. No finder's fee will be payable on the transaction, which is subject to regulatory approval.

TSX exchange does not accept any responsibility for the content or the veracity of the information contained in this release.

Contacts

514-849-7336
Pierre Gevry, President
514-849-9260 (FAX)
st-jacques@qc.aira.com