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J-Pacific Releases Technical Report for the Elizabeth Gold Property
Thu Sep 10, 9:30 AM

http://ca.news.finance.yahoo.com/s/10092009/28/link-f-ccnmatthews-j-pacific-releases-technical-report-elizabeth-gold-property.html

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - J-Pacific Gold Inc. ("J-Pacific") (TSX VENTURE: JPN.V) announces that it has released a technical report for its Elizabeth Gold Property. The report is available for download at SEDAR and on the J-Pacific website.

On June 8, 2009, J-Pacific announced that it had received an initial inferred gold mineral resource estimate for the Elizabeth Gold Property of 522,900 tonnes, grading an average of 12.3g Au/t using a cut-off grade of 5.0g Au/t, for a total of 206,100 oz Au. The resource estimate was prepared by SRK Consulting (Canada) Inc. ("SRK").

The Elizabeth Gold Property is located in the Lillooet Mining District of British Columbia, approximately 220 kilometres north of Vancouver and 30 kilometres southwest of the Blackdome Gold Mine and mill.


Mineral Resource Statement
Elizabeth Gold Property, British Columbia
Prepared by SRK Consulting, June 4, 2009
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Domain Grade Metal
Quantity Gold Gold
(tonnes) (g Au/t) (ounces)
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Inferred mineral resources
Southwest Vein 328,300 13.63 143,900
West Vein 194,600 9.95 62,200
Main Vein(ii) - - -
Northwest Vein(ii) - - -
Total inferred 522,900 12.26 206,100
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(i) Mineral resources are not mineral reserves and have demonstrated
no economic viability. All figures are rounded to reflect the
relative accuracy of the estimate. Reported at a cut-off grade
of 5.0g Au/t, assuming an underground mining scenario, a gold
price of US$1,000 per ounce, and 100 percent metallurgical
recovery.
(ii) At the cut-off grade of 5.0g Au/t, the Main and Northwest veins
currently host no significant mineral resources.
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FUTURE PLANS

J-Pacific has initiated plans for extensive surface and underground exploration programs, along with infrastructure upgrades, in an effort to further expand the resource. Permitting for this phase of work is in place, and proposals for an independent scoping study are currently being reviewed.

BACKGROUND

Since acquiring the Elizabeth Gold Property in 2002, J-Pacific has drilled 67 diamond drill holes totalling 9,053 metres, of which 38 holes totalling 5,664.2 metres have targeted the Southwest Vein system. Drilling has also targeted the West and No. 7 veins. Structural interpretation of the Elizabeth vein system by SRK in 2005 was instrumental in the design of J-Pacific's 2007 drilling program on the Southwest Vein.

The Elizabeth Gold Property, 9,811 hectares of owned and optioned Crown grants and mineral claims, is centrally located in prospective terrain 30 kilometres south-southwest of the permitted mill at the J-Pacific-owned Blackdome Gold Mine, and 30 kilometres north-northeast of the historical gold mining town of Bralorne, where over four million ounces of gold have been produced. The Elizabeth Gold Property's proximity to J-Pacific's permitted gold mill at the Blackdome Gold Mine means any eventual production from Elizabeth could be accommodated at the Blackdome facility, complementary to any future production at Blackdome. The high grades identified in several veins at the Elizabeth Gold Property and its location make it an attractive exploration target that can be rapidly advanced.

The technical content of this news release has been reviewed and approved by Dr. Jean-Francois Couture, P.Geo., and Dorota El-Rassi, P.Eng., of SRK, and J-Pacific's independent qualified persons for this project for the purpose of NI 43-101 regulations.

Neither the 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.

Contacts

Nick Ferris
J-Pacific Gold Inc.
President & CEO
[phone]
[phone] (FAX)
[e-mail]
www.jpgold.com

Victor Webb/Madlene Olson
Marston Webb International
Media Inquiries
[phone]
[phone] (FAX)
[e-mail]