Jaguar Mining Announces First Gold Pour at Caet

CONCORD, NH - Jaguar Mining Inc. reported that the first gold pour at its new Caet operation was completed on August 17th. Two additional gold pours have taken place since then for an aggregate of 3,440 ounces. Based on the success of the initial commissioning phase at the CaetÄ operation, management remains confident that the operation will be declared 'commercial' in early Q4, if not before.

Commenting on the initial gold pour at the CaetÄ operation, Dan Titcomb, Jaguar's President and CEO stated, "This important milestone at Caet is further evidence of the ability of Jaguar's operating team in Brazil. From breaking ground to the first gold pour, which took place over a 16-month period, the development and commissioning of the Company's third integrated gold processing operation has been on plan in terms of both schedule and budget."

Jaguar's management reiterates its gold production target at the new Caet operation will total approximately 10,000 ounces in Q3 2010 and 20,000 ounces in Q4 2010.

Jaguar has operations in a prolific greenstone belt in the state of Minas Gerais and has plans to develop the Gurupi Project in northern Brazil in the state of Maranhïo. Jaguar is actively exploring and developing additional mineral resources at its approximate 575,000-acre land base in Brazil.

The company's address is 125 North State Street, Concord, NH 03301, (603) 224-4800, fax: (603) 228-8045, email: [email protected].