Jet Gold Announces Private Placement

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Gross Proceeds to be Raised - $810,000

For Release January 27, 2012 - Vancouver, BC - Jet Gold Corp. (TSX-V: JAU) announces a private placement of an aggregate of 5,400,000 units ("Units") at an issue price of $0.15 per Unit for total gross proceeds of $810,000.

Each Unit consists of one common share ("Common Share") and one half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.25 per share in year one and $0.30 per share in year two from the closing date.

The Company intends to use the net proceeds of the offering for general working capital purposes.

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 (Ag/Zn) 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

On behalf of the Board of Directors,

Jet Gold Corp. (TSX.V: JAU)

"Brad J. Moynes"

Brad J. Moynes
President & CEO

For more information, contact:
Brad Moynes (604-601-2070)
[e-mail]

Investor Relations, contact:
Gus Garisto (416-805-3106)

JetGold Corp.
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 / F: 604-683-8125
www.jetgoldcorp.com

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.