J-Pacific Reports Drill Results from Montgolfier Project

VANCOUVER, October 7, 2008 � J-Pacific Gold Inc. (�J-Pacific�; TSXV � JPN) today reported final assay results from the 10,000-metre core drilling program at its Montgolfier Project. Located in the Casa Berardi greenstone belt of northwestern Quebec, the Montgolfier Project is 85 kilometres west of Matagami and 40 kilometres east of the Casa Berardi Mine.

PROGRAM SUMMARY

The 2008 program was designed to test the lateral and depth extension of gold mineralization explored in 2007 (see updated technical report filed on SEDAR). The program focused on three main target areas spanning 16 kilometres of strike length along the Casa Berardi Fault (�CFB�). Maps detailing the drill holes are available for download on the J-Pacific website.

Complete assay results have been received for the 16 holes (totalling 9,225 metres) drilled during the 2008 program, which followed up on encouraging results from the 2007 drill program (see updated technical report filed on SEDAR). Salient assay results are shown in Table 1, important highlights of which include the following core length intervals:

 Hole JPN08-28 intersects 1.88g Au/t over 3.0 metres
 Hole JPN08-29 intersects 3.91g Au/t over 1.0 metre
 Hole JPN08-33 intersects 4.40g Au/t over 1.0 metre
 Hole JPN08-39 intersects 0.86g Au/t over 8.0 metres

Five Diamond drill holes were drilled in the western part of the property to pursue positive results from Hole JPN07-04, that intersected a 7.1-metre section grading an average of 2.85g Au/t in a broad zone of quartz-muscovite-pyrite-altered metasedimentary rocks. The 2008 boreholes tested the strike and down-dip extensions of this promising alteration and mineralization envelope on a 100- to 150-metre step-out pattern. Holes JPN08-27 and JPN08-29 were drilled approximately 100 metres west and east, respectively, of Hole JPN07-04. JPN08-27 intersected the target horizon between 240 and 322 metres down the hole but did not intersect notable gold mineralization. JPN08-29 intersected the same thick metasedimentary rock package, including four distinctively muscovite-altered sections carrying up to five percent pyrite. Assay results yielded between 0.4 and 3.9g Au/t over core length intervals up to 5.0 metres.

Holes JPN08-28, JPN08-30 and JPN08-32 were drilled approximately 200 metres behind the above-mentioned holes and targeted the main quartz-muscovite-pyrite alteration zone, approximately 150 metres below the previous holes as well as along strike. The holes intersected the targeted alteration zone, with the best assay results yielding 1.88g Au/t over 3.0 metres in Hole JPN08-28. A second alteration zone was intersected in all three boreholes to the south of the main quartz-muscovite-pyrite target. Hole JPN08-34 was drilled approximately 150 metres behind JPN08-28, to test the depth continuity of this new zone; the hole intersected 4.4g Au/t over 1.0 metre. There is insufficient information to determine if the reported core length intervals represent true widths.

By the end of this year�s drilling program a total of eight holes had been drilled in this prospective area, intersecting a large, variably mineralized quartz muscovite pyrite alteration zone over a strike length of 200 metres to a depth of 150 metres. This zone is open along strike and at depth and remains an attractive exploration target.

Hole JPN08-31 was drilled in the easternmost portion of the property, to follow up on quartz-tourmaline-arsenopyrite mineralization and alteration intersected in JPN07-01. The borehole was drilled from the north to investigate the interpreted northern limit of the Taibi Basin and the CBF. The hole intersected largely unaltered and unmineralized basalt to a depth of 140 metres before progressing into a largely metasedimentary package. The CBF was encountered at a depth of approximately 210 metres. While JPN08-31 intersected a 12.8-metre core length interval grading 0.6g Au/t in an intense silica alteration zone adjacent to a graphitic fault, it did not intersect the targeted quartz-tourmaline-arsenopyrite veining.

The remaining nine holes of the 2008 program were drilled along a 1.5 kilometre section of the CBF in the eastern part of the property, and in the general area where Holes JPN07-16 and JPN07-21, drilled in 2007, returned 10.42g Au/t and 6.44g Au/t over core length intervals of 1.0 and 3.2 metres, respectively.

In this area, the CBF dips slightly to the north and is believed to transect the northern limit of the Taibi Basin; therefore, all 2008 boreholes were drilled from the north to investigate the northern limit of the sedimentary basin. A thick package of mafic metavolcanic rocks was intersected north of the CBF, with predominantly metasedimentary rock farther down the holes, confirming that the CBF broadly marks the northern limit of the Taibi Basin.

All boreholes intersected altered metasedimentary rocks variably impregnated with pyrite and minor quartz-pyrite veining in close proximity to the CBF. These alteration zones are anomalous in gold, except Hole JPN08-40A, which encountered no significant gold mineralization. Holes JPN08-36 and JPN08-37A yielded the most promising results, respectively 0.92g Au/t over 6.3 metres, including 1.2g Au/t over 4.6 metres; and a broad 19.0-metre core length interval averaging 0.35g Au/t, including 0.6g Au/t over 7.9 metres. The gold mineralization is associated with silica-carbonate alteration with minor pyrite in close proximity to the CBF. Other anomalous core lengths intervals are shown in Table 1.

The results from the 2008 drilling program are being compiled and integrated with the project database. In the western portion of the project, drilling on three sections spaced 100 metres apart outlined two corridors of strong quartz-muscovite-pyrite alteration developed south of the CBF and discontinuously auriferous. Although the 2008 drilling did not successfully replicate the encouraging assay results obtained in 2007, both corridors that remain open along strike and at depth suggest the presence of a significant gold-related alteration system.

In the eastern portion of the project, the 2008 drilling suggests that the CBF does mark the northern boundary of the Taibi Basin with mafic volcanic rocks. This contact is characterized by strong silica, carbonate and pyrite alteration and graphitic faults. Drilling over a 1,400-metre strike length suggests that the mafic volcanic rocks are mostly unaltered and barren of gold mineralization. All hydrothermal alteration and gold mineralization are restricted to the immediate vicinity of the CBF and the metasedimentary rocks to the south. The data collected from this drill program confirms the conceptual geological model in this area of the project, and will be used to develop new exploration targets.

THIS PRESS RELEASE CONTAINS MAPS. PLEASE CLICK HERE TO VIEW.

Table 1: Salient Assay Results from 2008 Drill Program

* Core length intervals. There is insufficient information to determine if the reported core length intervals represent true widths. However, assuming the intervals are sub-vertical true widths are estimate at between sixty and  seventy-five percent of reported intervals.

BACKGROUND

The Montgolfier Project straddles the Casa Berardi Tectonic Zone, approximately 40 kilometres east of the Casa Berardi Mine, where Aurizon Mines Ltd. has outlined proven and probable mineral reserves of 3.087 million tonnes grading 9.3g Au/t (918,000 oz Au); a measured and indicated mineral resource of 3.613 million tonnes holding 662,000 oz Au; and an inferred mineral resource of 5,484 million tonnes holding 1,214,000 oz Au (Source: Aurizon Mines Ltd. website).

The presence of gold reserves and resources at the Casa Berardi Mine does not necessarily indicate that gold reserves and resources will be delineated on the Montgolfier Project. However, SRK Consulting Ltd. (�SRK�) has extrapolated similarities in the stratigraphy and structural setting of the Montgolfier Project to those of the Casa Berardi Mine, as well as to other occurrences of gold mineralization in the Casa Berardi Tectonic Zone.

Assay samples were collected from NQ-size core cut in half lengthwise with a Diamond saw. Assay sample lengths vary from 0.2 to 2.0 metres, depending on geology. Gold assays were performed using fire assay procedures with an atomic absorption finish on a 30-gram charge. Assay results grading above 1.0g Au/t were repeated with a gravimetric finish. J-Pacific employs industry best practices quality assurance and quality control procedures for all its exploration programs. All assays were conducted by Laboratoire Expert Inc. of Rouyn-Noranda, Quebec, which is independent, maintains an internal quality control program, and participates annually in the CANMET round-robin proficiency testing, but is not ISO certified. Analytical quality control measures included the use of replicate assays, and certified reference samples and blanks in all batches of assayed samples.

The drilling was performed by Major Drilling Group International Inc. On-site geological expertise was provided by IOS Services G�oscientifiques Inc., a Quebec-based geological consulting company, under the supervision of SRK�s Dr. Jean-Francois Couture, P.Geo, J-Pacific�s qualified person for this project for the purpose of NI 43-101, who has reviewed and approved this news release.

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

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J-Pacific Gold Inc.
802�1166 Alberni St.
Vancouver, BC, Canada  V6E 3Z3
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E-mail: info@jpgold.com