Jaguar Nickel Inc.

Jaguar Nickel Inc.

May 12, 2005 08:00 ET

Jaguar Nickel Inc. 2005 Exploration Program On Target

TORONTO, ONTARIO--(CCNMatthews - May 12, 2005) -

From access roads and drilling to government and community relations, Jaguar continues to meet its objectives.

Jaguar Nickel Inc. (TSX:JNI) today announces it is proceeding with its 2005 exploration program which comprises drilling, land access, government and community relations and process research.

"We are very pleased with the progress we have made as this means every aspect of the exploration program is advancing successfully towards project development," explained Mr. John Yates, President and CEO.

During April, the Company achieved its exploration targets including:

- Completion of Phase One of the drilling program and preparations for Phase Two are underway.

- Successfully negotiated access to the Rio Negro area and started line cutting and planning the access road in preparation for diamond drilling.

- As part of the regional exploration program, completed field reconnaissance mapping and sampling at the La Ruidosa license area and completed a second annual report for its El Tunico license area and submitted it to the Ministry of Environment and Mines.

- Opened seven pits at the El Inicio deposit to extract samples for process research.

- Provided access to qualified medical treatment to residents of the project area.

Jaguar is also in active discussions with an operating company to determine whether its existing pyrometallurgical process will be economically suitable for treating the ores of its Sechol deposits to produce Ferronickel.

About Jaguar Nickel Inc.

Jaguar Nickel Inc. (TSX:JNI) is a professionally managed Canadian nickel exploration and mine development Company. The Company's current exploration and development program is focused on the nickel laterite deposits of its licensed properties in Guatemala, Central America.

Trading Symbol on the TSX: "JNI"

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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