Jaguar announces appointment of directors



    TORONTO, June 4 /CNW/ - Jaguar Nickel Inc. ("Jaguar" or the "Company")
(TSX: JNI) announced today the appointment of Norman Peter Stern, Joseph
Panetta and Sam Di Michele as directors of the Company. Each of Messrs. Stern,
Panetta and Di Michele are successful entrepreneurs.
    Jaguar also announced the resignation of Doug Chornoboy as a director of
the Company. Mr. Chornoboy is Senior Vice President and Chief Financial
Officer of Northern Financial Corporation ("Northern").
    Accordingly, the directors of the Company consist of Messrs. Stern,
Panetta, Di Michele, Richard Pinkerton and Vic Alboini. Mr. Alboini is an
officer and director of Northern and its wholly-owned subsidiary, Northern
Securities Inc. ("NSI") and Mr. Pinkerton is an officer and director of NSI.
Mr. Pinkerton has been appointed Secretary of Jaguar.
    Mr. Stern is an investor, and owner and operator of residential and
commercial properties and movie theatres. Mr. Stern successfully built a chain
of movie theatres which was sold in 1998 to Onex Corporation and resulted in
the formation of Galaxy Entertainment Inc. ("Galaxy"). Mr. Stern was President
of Galaxy from 1999 to 2001. Mr. Stern was past President of the Motion
Picture Association of Canada for 8 years and a director for 10 years. Mr.
Stern is currently engaged as a consultant of Lakeside Steel Corporation
("Lakeside"), a manufacturer of steel pipe and tubular products, to lead its
restructuring.
    Mr. Panetta is an investor and co-owner of several construction
businesses including Diplock Floor Ltd. in the industrial and commercial
construction sector.
    Mr. Di Michele is the founder of Cinema Strategy Group and the former
President of Cineplex Odeon Corporation from 2000 to 2003 and led its
restructuring. Mr. Di Michele was with Cineplex Odeon from 1985 to 2003.
Mr. Di Michele has his Masters of Business Administration from Queen's
University and is a Certified Management Accountant. Mr. Di Michele is
President and Chief Restructuring Officer of Lakeside.

    About Jaguar

    Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors. Jaguar's shares are
traded on the TSX under the symbol JNI.

    The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Jaguar's control which may cause actual
results, performances or achievements of Jaguar to be materially different
from those implied by such forward looking statements.

    %SEDAR: 00002498E




For further information:

For further information: Vic Alboini, Chairman and Chief Executive
Officer, Website: www.jaguarnickel.com, 2705 - 401 Bay Street, P. O. Box 183,
Toronto, Ontario, M5H 2Y4, Tel.: (416) 363-1124, Fax: (416) 360-0728; Trading
Symbol on the TSX: "JNI"

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Jaguar Financial Corporation

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