PRIVATE PLACEMENT WITH TOP-GOLD COMPLETED

The Board of Directors of J-Pacific Gold Inc. (the "Company") is pleased to announce that the private placement with Top-Gold AG mkV Fund of Liechtenstein reported in the news release of September 18, 2003 has closed. A total of 2,500,000 Units of the Company were issued at a price of $0.40 per Unit for total proceeds of $1,000,000. Each Unit consists of one common share and one warrant, with each warrant exercisable to purchase a further common share of the Company at a price of $0.60 per share until September 23, 2005. The Company issued warrants as a finder's fee of exercisable for a total amount of 250,000 common shares of the Company at an exercise price of $0.60 per common share, exercisable until September 23, 2005.

The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until January 24, 2004 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.

On behalf of the Board of Directors,

"N. Ferris"
President and CEO

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.





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