Jaguar Resources Continues to Intercept Long Intervals of Strong Gold Mineralization At Tocantinzinho.

HOUSTON -- Jaguar Resources Corporation (TSX VENTURE:JRS) has received assay results from 385 samples from the first three (3) diamond drill holes of the twelve-hole, 3000-meter Phase II drilling program at its Tocantinzinho Project, located in the gold-rich Tapajos region in Para State, Brazil.

All three holes intercepted mineralization, with the best intercepts assaying 174 meters at 2.41g/t gold in Hole #11, including 4 meters at 20.5g/t gold, 16 meters at 3.98g/t gold and 16 meters at 4.98g/t Au. Hole #10 resulted in five (5) intercepts over 1g/t gold varying in width between 12.4 and 36.8 meters (total 137.8 m), with best intercepts of 33.5 meters at 3.9g/t gold and 36.8 meters at 1.58g/t gold. At Hole #9 the longest intercept assayed 78 meters at 1.06 gold, including 22 meters at 1.69g/t gold. In addition, this hole hit another three (3) intervals with grades greater than 1g/t gold over a total of 53.5 meters. At all three holes mineralization started at surface or near surface, and Hole #9 ended in mineralization.

Complete results from these three holes follow:

GRAMS
               FROM:       TO:                  PER      TOTAL DEPTH
 DRILL HOLE (depth in  (depth in   INTERVAL     TONNE      (meters)
              meters)    meters)   (meters)    (Gold)
----------------------------------------------------------------------
TOC 9              0       13.5       13.5       1.41
----------------------------------------------------------------------
                  64        142         78       1.06
 Including        90        112         22       1.69
            ----------------------------------------------------------
               159.6      177.1       17.5       0.66
            ----------------------------------------------------------
                 184        194         10       1.23
            ----------------------------------------------------------
                 200        230         30       1.06           233
----------------------------------------------------------------------
TOC 10             4       23.4       19.4       0.78
----------------------------------------------------------------------
                26.6         39       12.4       1.02
            ----------------------------------------------------------
                42.2       55.3       13.1       1.26
            ----------------------------------------------------------
                 102        144         42       1.18
            ----------------------------------------------------------
               165.8      202.6       36.8       1.58
            ----------------------------------------------------------
               208.5        242       33.5       3.90           253
----------------------------------------------------------------------
TOC 11             0         32         32       0.89
----------------------------------------------------------------------
                  72       83.9       11.9       1.56
            ----------------------------------------------------------
                 106        280        174       2.41
 Including       136        140          4       20.5
 Including       204        220         16       3.98
 Including       264        280         16       4.98           300
----------------------------------------------------------------------
Intercepts calculated at a cut-off of 200 ppb Au.

To date ten (10) out of the eleven (11) holes for which results have been received encountered significant mineralization. Five (5) holes had intercepts ranging from 91 meters to 174 meters with values of from 1 g/t gold to 2.4 g/t gold. In addition, some short but high grade intercepts were encountered in the following holes:

Hole #4:    1.9 meters at 31g/t gold and 1.2 meters at 29g/t gold
    Hole #5:    2 meters at 15g/t gold and 0ne (1) meter at 13g/t gold
    Hole #11:   4 meters at 20g/t gold

The results indicate an open-pit mineable situation with the potential of later underground mining the high-grade zones of 1.2 to 4 meters in width.

Mineralization is hosted in a course-grained brecciated granite with very dense sheeted quartz veinlets. The granite is in places intruded by andesite-dikes that are generally not mineralized and are often the barren gaps between the mineralized intercepts in these three holes.

A strike length of a minimum of 450 meters of mineralization has been confirmed and the results of Hole #11 show that it is open-ended to the southeast. Results from Hole #16, drilled 75 meters further to the southeast, will test this area. Drilling to the north has not delineated northern extensions of the mineralization, but more work is required to confirm this possible closure. Mineralization is open ended at depth and in several places the eastern boundary has not yet been delineated. A map showing all intercepts and drill hole locations can be viewed at the Company's Web site at www.jaguarresources.com.

Leendert Krol, president and director of Jaguar Resources, commented: "I am very excited with these additional results that confirm and extend the significant mineralization encountered in our Phase 1 program. The fact that Hole #11, our best hole to date, is the most southeasterly hole drilled so far, indicates the potential of significant additional strike-length in that direction. We are very positive about the potential for Hole #16, drilled 75 meters further to the southeast."

Regarding the additional nine holes of the twelve-hole, Phase Two program: Two holes are yet to be drilled, and seven holes are pending assay results due to a backlog at the lab. Results of the entire Phase II program are expected to be received and announced by the end of August.

Exploration ridge and spur auger-soil sampling has commenced on the Tocantinzinho claims to the east of the drilling area, to determine the origin of the alluvial gold occurrences in the drainages of this area. At the Company's Mamoal project, an exploration team has started mapping, channel sampling and auger soil sampling of this well-known and productive garimpo located 30 km southeast of Tocantinzinho.

The Tocantinzinho and Mamoal projects lie along a major WNW-ESE "mineralized trend" in the Tapajos that hosts several significant productive garimpos including Sao Jorge, Cuiu Cuiu and Bom Jardin, all of which host extensive primary gold mineralization.

The exploration program is being carried out under the direction of Dennis Moore, director of Jaguar Resources do Brazil, and exploration manager (a member of the Society of Economic Geologists and the Qualified Person for the project). Mr. Moore spent several years exploring the Tapajos on behalf of Altoro Resources in the late 1990s.

Jaguar Resources has the option to earn a 100% interest in the 28,275-hectare Tocantinzinho concession by making staged payments in cash and shares and spending US$ 1 million in exploration over four years.

Sampling Procedures

The recovered NTW and BTW-size cores are split in half by a standard rock saw. Half of each split is sampled depending on geological parameters, in intervals not greater than 3.5-meter with the remaining half stored on site. The samples were bagged in lots of ten (10) and flown from the project site to Itaituba, from where they were airfreighted to the Lakefield Geosol Laboratorios Ltda. (LGL) Sample Prep Facility at Parauapebas in Para State.

Based on initial analytical results, an "intermediate preparation" procedure was chosen over the usual "standard prep" procedure. Samples are dried at 105 degrees C, crushed to 2mm, homogenized, and then a 1.0 kg split is taken from approximately 2-3kg of material (as opposed to a 250g split for the standard procedure). This material is pulverized to -150 mesh and a 50g split is then taken from this portion for the fire assay.

At Parauapebas, one "blank" (pure pulverized quartz) is inserted every 40 samples and a sieve test for crushing (90%-2mm) and pulverizing (95%-150#) is performed every 20 samples. The pulps (150 grams) were then airfreighted to the Lakefield Geosol analytical laboratory in Belo Horizonte for Fire Assay/AAS analysis. LGL is an ISO9001/2000-certified mining and environmental analysis laboratory, and, in addition, participates in various inter-laboratory proficiency testing programs.

In addition to the laboratory quality control, Jaguar has added its own check samples every 10th sample, starting with Hole TOC 04-05 and onwards.

Mark E. Jones III

Chairman

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The news release includes certain "forward-looking statements." All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of Jaguar Resources, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Jaguar's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.