JetGold Corp. - Silver Bay property samples high grade silver

* Drill-ready viens targeted for 2012 phase-1 geochemical/geophysical program *

* Consistent of a porphyry (Cu-Au) system *

VANCOUVER, Dec. 15, 2011 /PRNewswire/ - JetGold Corp. (TSX-V: JAU) today announced that its 2011 exploration program has been completed on the Silver Bay property located in central British Columbia.  The Silver Bay property totals 13,126 acres and is located east of the Deer Horn Property (TSX: DHM) and 29 kms south of the Huckleberry mine, 50% owned by Imperial Metals Corp (TSX: III). Historically, the region has produced the Equity Silver Mine, Miya (Emerald Glacier) mine and the Berg depost (Cu-Mo porphyry) which contains an estimated 2.1billion lbs copper with significant molybdenum & silver.

JetGold's 2011 exploration program has been completed. It was reconnaissance in nature and was focussed on identifying recorded mineral showings, assessing areas of historical exploration and small scale surface and underground development. The helicopter-supported program took place over two days in mid-September and readily identified the Roosevelt, Nickel Plate and Ace mineral occurrences. Three other recorded mineral occurrences were not located because of poor access, snow conditions and time constraints.

The Roosevelt and Nickel Plate mineral occurrences are separate, semi-massive to massive lead-zinc-copper veins that locally contain excellent gold and/or silver grades. The polymetallic veins occupy discrete northerly trending structures in the western part of the property.

At Roosevelt, veins and subordinate stockwork mineralization occur within a north to northeast trending and west dipping shear zone that is approximately 6 m in width. The shear zone, mineralization and caved underground workings were located on the banks of Camp Creek. Individual chip and grab samples collected in 2011 from the immediate area graded up to 17.3 g/t Au, 1570 g/t Ag, 0.59% Cu, > 20% Pb and 6.61% Zn.  The Roosevelt showing is coincident with the margin of 1.1 km by 0.6 km area of chargeability high - resistivity low IP responses outlined by Equity Silver Mines in 1990. Follow-up diamond drilling of the anomaly in 1991 intersected several narrow zones of precious metal-bearing polymetallic sulphide vein and stockwork mineralization, and established a spatial and genetic association with nearby augite feldspar porphyry intrusions.

Old workings at Nickel Plate mineral occurrence, consisting of an open adit and series of narrow trenches, evaluated a narrow, northwest-trending and steeply east dipping polymetallic quartz veins and associated stringer mineralization.  The workings cover a lineal distance of approximately 170 m. The principal vein is up to 30 cm wide at surface and exhibits banded and comb structures.  Chip samples across the vein and selected grab samples from the dump graded up to 4.90 g/t Au, 551 g/t Ag, 1.0% Cu, 11.2% Pb and 7.75% Zn.

The Ace mineral occurrence is a very impressive alteration system located in the eastern part of the property, a distance of more than 3 km from the closest known vein occurrence.  Ace consists of intense, pervasive limonite and locally intense jarosite coatings on pyritic volcanic rocks that form steep spires and canyon walls along more than 700 m of a creek gulley. The volcanics are cut by a pyritic granite breccia stock.  Sampling of the gossanous rock over a length of approximately 700 m produced anomalous values of copper, lead and zinc.  Previously recorded work identified magnetite-chalcopyrite-bornite skarn mineralization along shear zones 'beyond the pyritic' rocks, and disseminated hematite, pyrite and chalcopyrite in a range of volcanic lithologies rocks approximately 1 km southwest of the canyon examined.

The intense alteration at Ace is consistent with the upper levels or flank of a porphyry (Cu-Au) system.  The polymetallic veins that comprise the Roosevelt and Nickel Plate mineral occurrences may be distal components of, and directly related to, the Ace porphyry system.  Literature review of the other three known mineral occurrences on the property that were not located in 2011 (Dad's Surprise, Deuce and Chikamin Group) are also regarded to be porphyry-related.

In September 2011, a 496 line-km airborne magnetometer and radiometric survey was flown over the entire property by Precision GeoSurveys of Vancouver, BC.  Results from the survey are still pending, but will be the subject of a subsequent news release.

"JetGold's Silver Bay property has seen very little modern exploration. We are extremely encouraged by the precious and base metal tenor of the veins that were sampled at the Roosevelt and Nickel Plate mineral occurrences, and also by the large untested alteration zone that encompasses the Ace prospect.  The company believes that the veins are drill-ready targets and that a comprehensive Phase 1 geochemical and geophysical program, scheduled for 2012, will be successful in identifying additional targets," stated Brad J. Moynes, President of JetGold Corp.

The following table displays the range of values and assay results from the Roosevelt, Nickel Plate and Ace mineral occurences at Silver Bay:

Bob Lane, PGeo, is JetGold's qualified person as defined by National Instrument 43-101, for the Silver Bay project.

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JetGold is a Canadian resource exploration company actively developing gold, silver, copper, zinc, molybdenum and tellurium mineral resource properties in British Columbia, Canada. The company is currently undertaking exploration of its two unique precious metal properties [Big Hammer and Silver Bay] and a base metal property [Kshish].

Big Hammer  Gold/silver/tellurium (Au/Ag/Te) property located 13 km southeast of Terrace

Silver Bay  Silver/zinc/Iron (Ag/Zn/Fe) property located in west central BC

Kshish   Copper/Molybdenum (Cu/Mo) property located 15 km northeast of Terrace

JetGold is strategically investing in the Terrace and Smithers mining districts of British Columbia based on excellent road access, abundant power and water supply and close proximity to the CN rail line and the Fairview Terminal deep water container port in Prince Rupert. The port is an important part of the Government of Canada's "Asia-Pacific Gateway & Corridor Initiative" and the Province of British Columbia's "Pacific Gateway" strategy.

Additional information at: www.jetgoldcorp.com 

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On behalf of the Board of Directors,
JetGold Corp. (TSX.V: JAU)

"Brad J. Moynes"

Brad J. Moynes
President & CEO

Forward Looking Information: 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.

Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.

Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

SOURCE Jet Gold Corp.