Jet Acquires Rare Metals - Gold-Silver-Tellurium (Au-Ag-Te)

VANCOUVER, Feb. 22 /PRNewswire-FirstCall/ - Robert L. Card, President, Jet Gold Corp. (TSX-V: JAU) is pleased to announce that the Company has negotiated an option agreement to acquire a 100% interest in the Big Hammer property near Terrace, British Columbia, Canada. The Big Hammer property hosts a new rare metals, Gold-Silver-Tellurium (Au-Ag-Te), discovery made by the British Columbia Geologic Survey in 2007.

The terms of the option agreement calls for the payment of $250,000, the issue of one million common shares and the expenditure of one million dollars for exploration work over a four year period. The option agreement is subject to the approval of the TSX Venture Exchange.

The property consists of six tenures with a total area of 1,617 hectares (3,996 acres) and is located 13 kilometers southeast of Terrace B.C. on the lower elevations of Thornhill Mountain. It is situated on the western flank of the Intermontane Belt and bounded on the west by the Coast Crystalline Belt. The Big Hammer's Au-Ag-Te mineralization was first discovered on new logging road cuts in 2007 within a thick series of sheeted, low-angle quartz-pyrite veins. Host rocks are Tertiary granitics and possibly altered basement. The multiple Big Hammer Au-Ag-Te showings are also anomalous in lead (Pb), copper (Cu), zinc (Zn), cobalt (Co) and tungsten (W).

Intrusive associations and extensional structures combined with good assays and trace geochemical returns make the Big Hammer a target for gold and the byproduct tellurium. The significant extent, greater than 1,000m horizontal and 300m vertical, of the known Big Hammer mineralization suggests additional veins may be found with mapping, surface trenching and diamond drilling.

Tellurium is one of the rarest elements found on earth and is a significant and relatively new semiconductor. It is used in a wide range of uses with medical, solar cell, metallurgical and computer memory applications. Cadmium telluride solar panels have achieved some of the highest efficiencies for solar power generation. Tellurium sub-oxide is used in several types of rewritable optical discs. Much of this new technology, Blu-Ray discs for example, are critically dependant on tellurium. Due to low production and high demand the value of tellurium has gone up 500% since 2004.

Results stated in this report are non National Instrument 43-101 compliant and as such are subject to change as further work is undertaken on the property. A further description of the property, previous assay results, etc., will be released shortly.

    On behalf of the Board of Directors
    Jet Gold Corp

    "Robert L. Card"
    Robert L. Card
    President

SOURCE Jet Gold Corp.