MONTREAL, QUÉBEC--(Marketwired - May 8, 2013) - J.A.G. MINES LTD. (TSX VENTURE:JML) - On May 2nd, 2013 the Autorité des marches financiers (AMF) issued a Cease Trade Order notice, stating that JAG failed to file its annual financial statements, its annual Management's Discussion and Analysis and its annual attestations for the year ended December 31st, 2012.

On April 30th, 2013, JAG made a request to the AMF to implement a Management Cease Trade Order. This was rejected due to the failure of JAG to file its 51-101 Oil & Gas Annual Disclosure form relating to its subsidiary, Olitra Inc.

The default existing in Alberta has since been remedied as the two 51-101 reports in question were deposited on Sedar this week pursuant the article 2.1 of the Law 51-101.

JAG's audited financial statements are currently being completed. Management expects that these documents will be deposit within the next two to three weeks.

JAG' management team apologizes for any inconveniences caused.

Neither 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.

Contact Information:

Pierre Gevry, President
(514) 849-7336
(514) 849-9260 (FAX)