Jaguar Mining announces automatic share purchase plan

    JAG - TSX/NYSE Arca

    CONCORD, NH, March 31 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the
"Company") (JAG: TSX/NYSE Arca, JAG.NT: TSX) announced today that it has
entered into an automatic share purchase plan with a broker in order to
facilitate repurchases of its common shares under its previously announced
normal course issuer bid. On August 28, 2007, Jaguar announced that it had
received approval from the Toronto Stock Exchange ("TSX") to make a normal
course issuer bid to purchase up to the lesser of 2,760,224 common shares,
being 5% of the issued and outstanding common shares of Jaguar, and the number
of common shares equal to a maximum aggregate purchase price of
Cdn.$5,250,000. The normal course issuer bid commenced on August 30, 2007 and
will terminate on August 29, 2008, or such earlier date as the Company may
complete repurchases under the bid.
    Under the Company's automatic share purchase plan, the Company's broker
may repurchase shares under the normal course issuer bid at times when the
Company would ordinarily not be permitted to due to self-imposed blackout
periods. Jaguar anticipates renewing the plan from time to time during the
course of its normal course issuer bid to enable purchases of its common
shares to be made during internal blackout periods. Purchases will be made by
the Company's broker based upon the parameters prescribed by the TSX and
applicable Canadian securities laws and the terms of the parties' written
agreement. The automatic share purchase plan has been approved by the TSX and
will be implemented effective as of March 31, 2008.
    A total of 232,300 common shares have been repurchased for cancellation
under the Company's current normal course issuer bid and Jaguar currently has
64,047,419 common shares outstanding.
    Jaguar is engaging in a normal course issuer bid because it believes
that, from time to time, the market price of its common shares may not fully
reflect the underlying value of its business and its future business
prospects. As a result, depending upon future price movements and other
factors, Jaguar believes that its outstanding common shares may represent an
attractive investment, since a portion of Jaguar's excess cash can be invested
for an attractive risk adjusted return on capital through its normal course
issuer bid.

    About Jaguar Mining

    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 and on SEDAR at

    %CIK: 0001333849

For further information:

For further information: Investors and analysts: Bob Zwerneman, Director
of Investor Relations, (603) 224-4800,; Media Inquiries:
Valéria Rezende DioDato, Director of Communication, (603) 224-4800,

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