Jaguar Nickel Inc.
TSX : JNI

Jaguar Nickel Inc.

November 15, 2005 08:00 ET

Ministry Grants Matanzas License to Jaguar Nickel

TORONTO, ONTARIO--(CCNMatthews - Nov. 15, 2005) -

Reconnaissance results indicate strong potential for nickel laterite deposit

Jaguar Nickel Inc. (TSX:JNI) today announces that the Company has been granted a new exploration license ("Matanzas license") by the Ministry of Energy and Mines of Guatemala.

The Matanzas license covers an area of 28 km 2 and together with the Quisis exploration license and the Rio Colorado application for license forms part of a 12 km long contiguous block located west of the Sechol Project and lying within the Baja Verapaz ophiolitic belt, a belt that includes major nickel deposits. The block of licenses is centered on the town of La Union Barrios and transected by highway CA-14.

Two main laterite occurrences have been identified thus far within the licensed area and Rio Colorado application. Preliminary field investigations by Jaguar include 35 auger holes up to 13 meters deep completed within the Quisis license area with Ni grades up to 1.11% encountered at shallow depth. The auger holes did not penetrate into the saprolite zone.

There is evidence from field reconnaissance work in the Matanzas area of a laterite profile averaging in excess of 10 metres of limonite. Our experience in other similar areas leads us to believe that greater or similar thicknesses of saprolite material lies below the limonite.

"These results are encouraging and indicative of the strong potential for nickel laterite development within the area", indicates Mr. Richard Weizenbach, Chief Operating Officer.

Follow-up detailed mapping and pitting is planned to establish the full extent of laterite development at the Matanzas license.

Jaguar's revised minerals rights holdings in Guatemala now include 14 granted licenses and 5 licenses under application including one extension. Maps identifying the Matanzas license and the other Jaguar licenses and applications for license in Guatemala can be viewed on the company's website (www.jaguarnickel.com).

Exploration work on the Sechol project is supervised by Paul Nagerl, P.Geo., Chief Geologist at Jaguar Nickel Inc., a Qualified Person as defined in National instrument 43-101.

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.

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.
    Richard Weizenbach
    Executive Vice-President and Chief Operating Officer
    416-363-1124
    416-360-0728 (FAX)
    www.jaguarnickel.com