JAG - TSX/NYSE
CONCORD, NH, Nov. 16, 2011 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG: TSX/NYSE) in response to news articles today regarding an unsolicited offer to buy
the Company, acknowledges that it has received proposals over the past
The Company confirmed that, in light of the publicized unsolicited
offer, the Board of Directors has determined to initiate a strategic
process to explore alternatives to maximize shareholder value. At this
time, none of these proposals has progressed beyond the exploratory
stage. The Board has retained financial and legal advisors to assist
in this regard. There is no assurance that the process will culminate
in a change of control transaction.
Jaguar's Board of Directors intends to update the shareholders of the
Company at the appropriate time.
Jaguar is a gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais. Jaguar is also engaged
in developing the Gurupi Project in the state of Maranhão as described
above. Based on its development plans, Jaguar is one of the fastest
growing gold producers in Brazil. The Company is actively exploring and
developing additional mineral resources at its approximate
256,300-hectare land base in Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
SOURCE Jaguar Mining Inc.
For further information:
Investors and Analysts may contact:
Vice President, Investor Relations
Members of the media may contact:
Valéria Rezende DioDato
Director of Communication