JAU

VANCOUVER, Oct. 6, 2011 /PRNewswire/ - Jet Gold Corp. (TSX-V: JAU) today announced a non brokered private placement of $700,000 to be raised through the issuance of 3,500,000 units ("Units") at a price of $0.20 per Unit.  Each Unit will be comprised of one common share and one common share purchase warrant ("Warrant"). One Warrant will entitle the holder to purchase one common share at a price of $0.25 per share in year one and $0.30 per share in year two.

The proceeds of the financing will be used to further explore the Big Hammer Gold property located in Terrace, BC, and the Silver Bay property in west central BC and for general working capital purposes.

The private placement is subject to TSX Venture Exchange approval.

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].

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

On behalf of the Board of Directors,

Jet Gold 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.