TORONTO – JAGUAR NICKEL has signed a definitive share purchase agreement with a BHP BILLITON subsidiary whereby the latter company will acquire 100% ownership of JAGUAR NICKEL, S.A., which holds exploration licences in the Lake Izabal area of Guatemala. The purchase price is set at Cdn$19 million in cash.
When this transaction closes, Jaguar plans to enter into an alliance with another BHP BILLITON subsidiary for the exploration and development of nickel sulphide properties in North America. The sale of Jaguar Nickel, S.A. will be put to a shareholder vote next month, and the deal is expected to close by the end of February 2006.
For additional information contact Richard Weizenbach, executive VP and COO at Jaguar Nickel, 416-363-1124.