J-Pacific Gold Inc.
NEWS RELEASE No. 7, 2009

J-Pacific Closes Private Placement

VANCOUVER, October 14, 2009 – J-Pacific Gold Inc. (the “Company”; TSXV – JPN) is pleased to announce that it has closed its previously announced private placement and issued 4,250,000 units (the “Units”) for gross proceeds of $425,000. Each Unit was issued at $0.10 and consists of one common share and one warrant (a “Warrant”) entitling the holder to purchase, for a period of 24 months, one additional common share of the Company at a price of $0.12 in the first 12 months and at a price of $0.15 thereafter. The Company has paid a finder’s fee of 280,000 Units to certain finders in connection with the private placement.

All securities issued will be subject to a four-month hold period. The proceeds of the financing will be used for working capital requirements.

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.

For more information, visit www.jpgold.com, or call or e-mail: