Jaguar announces acquisition of additional equity interest in Tiomin

    TORONTO, Oct. 15 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX:
JFC) announced its acquisition today of an additional 390,000 common shares of
Tiomin Resources Inc. ("Tiomin"; TSX: TIO) representing approximately 0.82% of
the total issued common shares of Tiomin. The Tiomin shares were acquired on
the Toronto Stock Exchange for investment purposes at an average price of
$0.059 per share. Combined with the Tiomin common shares previously owned,
Jaguar now owns a total of 47,812,000 common shares, representing
approximately 10.08% of the total issued common shares of Tiomin.
    On September 19, 2008, Jaguar announced that it owned an aggregate of
44,681,000 common shares, representing approximately 10.03% of the total
issued common shares of Tiomin, which, at that time, were 445,365,168. On
September 26, 2008, Tiomin announced that, in connection with a transaction
involving Tiomin and Radiant Resources Inc., Tiomin issued approximately
28,898,635 additional common shares and its total issued and outstanding
common shares increased to 474,263,803.
    Jaguar believes the common shares of Tiomin are undervalued and wishes to
assist in the enhancement of shareholder value.

    About Jaguar Financial Corporation

    Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.

    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.

For further information:

For further information: Vic Alboini, Chairman & Chief Executive
Officer, (416) 644-8110 - or - Kyler Wells, General Counsel & Corporate
Secretary, (416) 644-8177

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