Jaguar provides update on requisition of shareholders' meeting of Tiomin Resources

    TORONTO, April 24 /CNW/ - Jaguar Financial Corporation ("Jaguar" or the
"Company") (TSX: JFC) today announced that it will not proceed with its
requisition of a special meeting of shareholders of Tiomin Resources Inc.
("Tiomin") (TSX: TIO) that was previously announced on February 13, 2009.
Jaguar had requisitioned the meeting to consider, among other things, certain
matters related to the proposed transaction between Tiomin and Cadiscor
Resources Inc. ("Cadiscor") (TSXV: CAO) as disclosed in the joint
Tiomin-Cadiscor press release of February 10, 2009 (the "Proposed Business
    In response to Jaguar's requisition, Tiomin announced on February 19,
2009, that it was no longer pursuing the Proposed Business Combination with
Cadiscor. As a result of this announcement by Tiomin, Jaguar will not be
proceeding with its requisition. The annual and special meeting of Tiomin's
shareholders is currently scheduled for Tuesday May 26, 2009. Jaguar will
continue to pursue all available legal remedies in respect of Tiomin, its
officers and directors and other parties.

    About Jaguar

    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 press release may contain
forward-looking statements with respect to the Company, its operations,
strategy, financial performance and condition. These statements generally can
be identified by use of forward looking words such as "may", "will", "expect",
"estimate", "anticipate", intends", "believe" or "continue" or the negative
thereof or similar variations. The actual results and performance of the
Company discussed herein could differ materially from those expressed or
implied by such statements. Such statements are qualified in their entirety by
the inherent risks and uncertainties surrounding future expectations.
Important factors that could cause actual results to differ materially from
expectations include, among other things, general economic and market factors,
and competition. The cautionary statements qualify all forward-looking
statements attributable to the Company and persons acting on their behalf.
Unless otherwise stated, all forward-looking statements speak only as of the
date of this press release and the Company has no obligation to update such

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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