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US$19 million Debt Facility From the Industrial and Commercial Bank of China

BEIJING, CHINA Jinshan Gold Mines Inc. (TSX:JIN) announces that its subsidiary, Ningxia Pacific Mining Co. Ltd., has received proceeds of the Renminbi ("RMB") 130 million (US$19 million) bridge loan ("Bridge Loan") announced September 8, 2008, with the Industrial and Commercial Bank of China ("ICBC"), the largest commercial bank in China. The Bridge Loan is unsecured, requires no gold hedging and is designed to support operations at the CSH Gold Mine during the installation of crushers and Phase II construction. A larger senior facility is expected to be arranged with ICBC that will retire the Bridge Loan facility. The Bridge Loan is denominated in Renminbi, and interest will be payable monthly at an annual interest rate of 6.21%. The principal amount will be repayable in installments of RMB 30 million (US$4.4 million) in January 2009, RMB 50 million (US$7.3 million) in February 2009, and RMB 50 million (US$7.3 million) in March 2009. The Bridge Loan is guaranteed by Jinshan's controlling shareholder, China National Gold Corporation and Jinshan will maintain its current position as an entirely un-hedged gold producer.

CSH Gold Mine Production Update

Jinshan continues to make operational improvements at the CSH Gold Mine as reflected in steadily increasing production over recent months. Gold production in June was 4,810 ounces; in July, 5,234 ounces; in August, 6,415 ounces and in September 6,454 ounces.