TORONTO, July 21 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX:

JFC) today announced an agreement (the "Lock-Up Agreement") with Orvana

Minerals Corp. ("Orvana") (TSX: ORV) to tender all of the shares owned by

Jaguar of Kinbauri Gold Corp ("Kinbauri") (TSX-V: KNB) to Orvana's all cash

$0.75 per share take-over bid for Kinbauri (the "Revised Offer"). Jaguar is

Kinbauri's largest shareholder owning 6,120,000 shares or 10.3% of Kinbauri's

issued and outstanding shares.

On May 25, 2009, Orvana commenced a take-over bid (the "Orvana Offer") to

acquire all of the issued common shares of Kinbauri in an all cash offer for

$0.55 per share. By a notice of extension dated June 30, 2009 and a second

notice of extension dated July 13, 2009, the expiry date of the Orvana Offer

was extended to July 24, 2009.

Today, Orvana announced that it was extending and varying the terms of

the Orvana Offer by increasing the offer price to $0.75 in cash per share and

extending the expiry date to July 31, 2009. Orvana also waived the condition

that all agreements between Kinbauri and Glen Eagle Resources Inc. ("Glen

Eagle") be terminated without penalty or liability to Kinbauri.

Vic Alboini, Chairman and Chief Executive Officer of Jaguar stated: "We

consider the all cash offer by Orvana of $0.75 per Kinbauri share to be

superior to the current offer of ATW Gold Corp. to exchange 1.35 ATW shares

for each Kinbauri share."

Jaguar reserves the right to terminate the Lock-Up Agreement in certain

circumstances if there is a superior bid which is not matched by Orvana.

About Jaguar Financial Corporation

Jaguar is a Canadian merchant bank that invests in undervalued small and

mid-cap companies in a variety of industry sectors.

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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.

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/For further information: Vic Alboini, Chairman & Chief Executive

Officer, (416) 644-8110; Jamie Spratt, Associate, (416) 644-8129/