Jaguar Mining Closes Previously Announced C$86.25 Million Private Placement of Units



    JAG - TSX

    CONCORD, NH, March 22 /CNW/ - Jaguar Mining Inc. ("Jaguar" or "the
Company") (JAG-TSX) announced today that it has closed its previously
announced private placement the ("Offering") of C$75,000,000 of Units. The
Units were sold by a syndicate led by TD Securities Inc. and included
Blackmont Capital Inc., BMO Capital Markets and RBC Capital Markets. The
underwriters exercised the option to purchase an additional 15% of the number
of the Units offered to cover over-allotments, resulting in aggregate gross
proceeds of C$86.25 million.
    Each Unit is comprised of a secured note in the principal amount of     
C$1,000, bearing a coupon of 10.5%, payable semi-annually in arrears, and 25
common shares of Jaguar, which in aggregate represents approximately
2.16 million shares, which will result in dilution of approximately 3.5% to
shareholders.
    As previously stated, the Company intends to use the proceeds from this
Offering to continue exploration and development work in the Paciência Region,
advance other Company properties including assessment and feasibility studies
at the Caeté Project, and acquire long lead-time components critical to the
overall development of mining operations, and other general corporate
purposes.

    About Jaguar

    Jaguar is one of the fastest growing gold producers in Brazil with
operations in a prolific greenstone belt in the state of Minas Gerais. Jaguar
is actively exploring and developing additional mineral resources at its
72,000 acre land base. Additional information is available on the Company's
website at www.jaguarmining.com.




For further information:

For further information: Investors and analysts: Bob Zwerneman, Director
of Investor Relations, (603) 224-4800, bobz@jaguarmining.com; Media inquiries:
Valéria Rezende DioDato, Director of Communication, (603) 224-4800,
valeria@jaguarmining.com


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