JAG - TSX/NYSE
BELO HORIZONTE, Brazil, Sept. 10, 2012 /CNW/ - Jaguar Mining Inc. (JAG:
TSX/NYSE) today announced that David M. Petroff has been appointed as
the new President and Chief Executive Officer of the Company and has
joined the Board of Directors effective immediately.
"This is an important time in Jaguar's history as the Company implements
its turnaround plan. David's wealth of mining and finance experience,
together with his proven track record of successful mining company
turnarounds makes him uniquely qualified to lead Jaguar." said Dick
Falconer, Chairman of the Board of Directors. "The Board is very
pleased that it was able to attract an executive of David's calibre and
we are excited to welcome him to the Company."
David has nearly 30 years' experience in the mining industry. Most
recently, he was the President and Chief Executive Officer of
Breakwater Resources Ltd. from November 2009 until it was acquired by
Nyrstar Canada in August 2011. For nearly 25 years prior to that, he
held senior management positions with Centerra Gold Inc., Cameco
Corporation and Denison Mines Limited. Mr. Petroff received a Bachelor
of Mathematics degree from the University of Waterloo in 1978 and a
Master of Business Administration degree (finance concentration) from
the Schulich School of Business, York University in 1980.
With the appointment of Mr. Petroff as the President and Chief Executive
Officer, Mr. John Andrews has stepped down from the role of interim
Chief Executive Officer.
"In the short time that John acted as interim CEO, he had a significant
impact on the Company and has been instrumental in implementing the
Company's turnaround effort." Mr. Falconer said. "We thank John for
his insight, hard work and dedication to our shareholders."
About Jaguar Mining
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and is developing the
Gurupi Project in Northern Brazil in the state of Maranhão. The Company
is actively exploring and developing additional mineral resources at
its approximate 220,000-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:
Vice President, Investor Relations
Valéria Rezende DioDato
Director of Communication