Jaguar Mining Announces Normal Course Issuer Bid

    JAG - TSX/NYSE Arca

    CONCORD, NH, Aug. 28 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the
"Company") (JAG: TSX/NYSE Arca, JAG.NT: TSX) announced today that it has
received approval from the Toronto Stock Exchange ("TSX") for a notice filed
by Jaguar of its intention 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. In addition, the
Company's aggregate purchase of shares during any trading day will not exceed
the lesser of 36,909 shares, being 25% of the average daily trading volume of
the shares based on their trading volume on the TSX for the most recently
completed six calendar months preceding the date of the notice of intention,
excluding purchases made by the Company through the facilities of the TSX, and
the maximum number of shares that Jaguar may purchase on any trading day
pursuant to applicable U.S. securities laws, subject in each case to the
Company's ability to make "block" purchases through the facilities of the TSX
in accordance with the TSX rules. Jaguar currently has 55,204,497 common
shares outstanding.
    The normal course issuer bid will commence on August 30, 2007 and will
terminate on August 29, 2008. This is the second normal course issuer bid
undertaken by Jaguar. Under its first normal course issuer bid which took
place during the 12-month period from August 25, 2006 to August 24, 2007,
Jaguar repurchased for cancellation an aggregate of 63,400 common shares at a
weighted average price of Cdn.$5.79 per share. The common shares will be
acquired through the facilities of the TSX and the purchase and payment for
the shares will be made by Jaguar in accordance with the requirements of the
TSX and all other applicable laws. The price paid by Jaguar for any common
shares acquired by it will be the market price of the shares at the time of
acquisition. All shares acquired by Jaguar under this bid will be cancelled.
    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 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

    Forward Looking Statements

    Certain statements in this press release constitute "Forward-Looking
Statements" within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities legislation. This press release
contains Forward-Looking Statements, including statements concerning Jaguar's
future objectives and future profitability. Forward-Looking Statements can be
identified by the use of words, such as "are expected", "is forecast",
"approximately" or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-Looking Statements involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results or performance to be materially different from any future results or
performance expressed or implied by the Forward-Looking Statements. These
factors include the inherent risks involved in the exploration and development
of mineral properties, the uncertainties involved in interpreting drilling
results and other ecological data, fluctuating gold prices and monetary
exchange rates, the possibility of project cost delays and overruns or
unanticipated costs and expenses, uncertainties relating to the availability
and costs of financing needed in the future, uncertainties related to
production rates, timing of production and the cash and total costs of
production, changes in applicable laws including laws related to mining
development, environmental protection, and the protection of the health and
safety of mine workers, the availability of labour and equipment, the
possibility of labour strikes and work stoppages and changes in general
economic conditions. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking information, there may be
other factors that cause actions, events or results to differ from those
anticipated, estimated or intended.
    These Forward-Looking Statements represent our views as of the date of
discussion. The Company anticipates that subsequent events and developments
may cause the Company's views to change. The Company does not undertake to
update any Forward-Looking Statements, either written or oral, that may be
made from time to time by or on behalf of the Company subsequent to the date
of this discussion. For a discussion of important factors affecting the
Company, including fluctuations in the price of gold and exchange rates,
uncertainty in the calculation of mineral resources, competition, uncertainty
concerning geological conditions and governmental regulations and assumptions
underlying the Company's Forward-Looking Statements, see the "CAUTIONARY NOTE"
regarding Forward-Looking Statements and "RISK FACTORS" as filed in the
Company's Annual Information Form for the year ended December 31, 2006 filed
on SEDAR and available at, and its filings, including the
Company's Registration Statement on Form 40-F filed with the U.S. Securities
and Exchange Commission on June 18, 2007, which are available at
through EDGAR.

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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