Jaguar Nickel Inc.

Jaguar Nickel Inc.

October 31, 2006 11:54 ET

Jaguar Nickel Provides Update on Shareholder Rights Plan

TORONTO, ONTARIO--(CCNMatthews - Oct. 31, 2006) - JAGUAR NICKEL INC. ("Jaguar Nickel") (TSX:JNI) announced today that on October 30, 2006, the Bureau de decisions et de revisions en valeurs mobilieres (Quebec) issued a cease-trade order with respect to the shareholder rights plan adopted by Jaguar Nickel on September 19, 2006 (the "Rights Plan"). The Bureau has indicated that it will issue reasons at a later date. The application for the cease-trade order was brought by Northern Financial Corporation. Jaguar Nickel is disappointed with the ruling and is considering the alternatives available to it to protect the interests of all of its shareholders.

About Jaguar Nickel

Jaguar Nickel is a well funded Canadian mineral exploration and development company. It has entered into an exploration alliance with BHP Billiton for the exploration and development of nickel mining properties in Canada, Alaska, the mid-continental United States and Greenland, excluding certain properties currently held by BHP Billiton. Jaguar Nickel's shares are traded on the TSX under the symbol JNI.

This news release may contain certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from those implied by such forward looking statements.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jaguar Nickel Inc.
    David Goldman
    (416) 363-1124
    (416) 360-0728 (FAX)