Jasper Mining Corporation announced that it has entered into a letter of intent dated May 16, 2016 with two arm's length private Alberta companies, Tacitus Ventures Corp. and Delfan Energy Resources Corp, to acquire all the issued and outstanding common shares of Tacitus and Delfan in an all-stock transaction that is anticipated to be completed by way of plan of arrangement. Tacitus's Chairman, Gareth Roberts, will take over as Jasper's new Chairman following the closing of the transaction.

Following the transaction, it is expected that the directors and officers of Jasper will be as follows: Gordon F. Dixon, Q.C., Director: Mr. Dixon is Chairman of the Board and Chief Executive Officer of Jasper Mining Corporation and is in private legal practice at Dixon Law in Calgary, Alberta. Jason Demers, Director and President and Chief Executive Officer. Mr. Demers is a businessman and entrepreneur, having started and subsequently selling an established engineering and regulatory business in Calgary.

Gareth Roberts, Director and Chairman of the Board: Mr. Roberts has over 40 years of experience in the oil industry working initially as a geologist for Texaco, Murphy Oil and Coho Resources. He founded Denbury Management Inc. in 1990. He founded Petro Harvester Oil and Gas in 2011 and is the current Chairman.

Michael Frey, Director and Sr. Vice President Exploration & Development.