Jaguar Nickel announces acquisition of equity interest in Engenuity

    TORONTO, March 19 /CNW/ - At the request of the Autorité des marchés
financiers (the "AMF"), Québec securities regulator, Jaguar Nickel Inc.
("Jaguar" or the "Company") (TSX: JNI) announced that as of February 21, 2007,
the date 4341392 Canada Inc. (a wholly-owned subsidiary of CAE Inc.) formally
commenced its offer to acquire all of the common shares of Engenuity
Technologies Inc. ("Engenuity") (the "Engenuity Offer"), Jaguar owned
1,427,300 common shares of Engenuity for investment purposes, representing
approximately 8.18% of Engenuity's total issued and outstanding common shares.
Subsequent to February 21, 2007, Jaguar purchased an additional 72,700
Engenuity common shares on February 26, 2007, 103,200 Engenuity common shares
on February 28, 2007 and 141,800 Engenuity common shares on March 5, 2007.
Each purchase of Engenuity common shares was made over the facilities of the
Toronto Stock Exchange for investment purposes. As at the date hereof, Jaguar
owns 1,745,000 Engenuity common shares, representing approximately 9.99% of
Engenuity's total issued and outstanding common shares. Jaguar is not, and has
not been, acting jointly or in concert with any other party with respect to
Jaguar's investment in Engenuity common shares.
    The AMF request was made after Jaguar purchased, following February 21,
2007, the date the Engenuity Offer was formally made, Engenuity common shares,
when added to Jaguar then owned Engenuity common shares, constituting 5% or
more of the outstanding Engenuity common shares. Jaguar was therefore required
to issue a press release reporting the purchase made on February 26, 2007
before the opening of trading on the business day following such purchase.
Jaguar was not aware of, and inadvertently did not comply with, this
requirement as prescribed by applicable securities legislation.
    Depending on market and other conditions, Jaguar may sell any or all of
its Engenuity common shares. Jaguar's current intention is to tender its
Engenuity common shares to the Engenuity Offer.

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

    %SEDAR: 00002498E

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