Jaguar Mining CEO Presenting at Denver Gold Forum

    JAG - TSX/NYSE Arca

    Presentation Outlines Aggressive Drilling Program, New Development
    Schedule and Decision to Eliminate Gold Hedging Program

    CONCORD, NH, Sept. 24 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the
"Company") (JAG: TSX/NYSE Arca, JAG.NT: TSX) announced today that Daniel
Titcomb, Jaguar's President and CEO will present at the Denver Gold Forum
today, Monday, September 24 at 2:55 PM (MDT). Jaguar invites you to watch the
live webcast of the presentation by clicking on the link below.

    You can also view the webcast at under Calendar of
Events. Note that the archived webcast will be available until October 24,
    Mr. Titcomb will provide details of several new initiatives underway at
the Company's mining operations and expanded exploration program in Brazil.
The highlights include:

    Down Strike Deep Drill Program
    Jaguar is initiating a 'go-deep' drill program where several new holes
will be drilled to depths of up to 1,000 meters in selected ore zones at
Turmalina, Roça Grande and Pilar. This program aims to prove the extension of
mineralization that Jaguar's exploration team now believes exists to depth
based on the geological models developed to-date. The Company has acquired a
significant amount of geological data from extensive drilling, which continue
to indicate that Jaguar's three main projects, where resources have been
measured and reported, are open at depth and most of them along strike.
Additional details from this initiative will be provided to investors as
information becomes available.

    Accelerate Expansion of Turmalina
    Accelerate the Expansion I of Turmalina to produce over 100,000 oz of
gold by 2009. The expansion is expected to be completed by the third quarter
of 2008 processing additional ore from the nearby Satinoco ore body, which
will be accessed from a new cross cut from the existing ramp system and mine
entrance. This initiative will require a modest expansion of the leaching
circuits at the existing processing facility as sufficient milling and
grinding capacity exists to exceed 1,500 tpd. It will also require additional
underground development and some new equipment. Total capital costs for the
Expansion I are estimated at $8 million, most of which will be invested in
mine expansion. The feasibility study, which will convert additional resources
to reserves, is underway and scheduled for completion in December 2007.

    Expansion Extends Feasibility Period for Caeté Offsetting Delay
    in Power Supply
    New discoveries of deeper mineralized zones at the Roça Grande property,
coupled with a revised timing of availability of sufficient power resources
required for the new processing plant, allows more time for the Company to
develop the Caeté Project feasibility study. Previously, Jaguar expected to
complete the feasibility study during the current quarter and commission Caeté
in the third quarter of 2008. The new schedule anticipates that the
feasibility study will be completed during the first quarter of 2008 and
commission the facility during the second quarter of 2009. The Company intends
to use the additional time to significantly expand mineral resources through
deeper drilling and extend the mine life beyond the present scope detailed in
the current findings of the feasibility study. Jaguar has elected not to
acquire power generation equipment to internally generate electricity, which
would allow the Company to maintain the previous schedule. The power contract
and mine/plant implementation licenses (LI) have been secured for the 2009

    Eliminate Gold Hedge
    The Company has made the decision to terminate the existing hedge program
and provide 100% of the upside in gold prices to Jaguar's investors.
    Commenting on these latest developments, Mr. Titcomb stated, "Given the
geological setting in which we operate in Brazil, we continue to believe
Jaguar's gold resource base could be expanded, allowing us to sustain an
operating target of more than 400,000 oz/yr for ten years. Our exploration
team has defined the continuity and geometry of the main projects to a depth
of 200-400 meters, confirming resources and that mineralization is open at
depth as well as on strike. Our team now has the confidence to drill these
structures to a depth of 700-1,000 meters. This program is expected to provide
significant upside growth to our resource base faster than previously thought
    Concerning expansion and new development of operations, Mr. Titcomb
added, "With the operating success we have achieved at Turmalina, coupled with
the additional resources now available to us from the Satinoco ore body, we
are deploying the resources, both human and financial, to this operation today
to expand gold production at Turmalina faster than previously planned. The
economic benefits far out-weigh the alternatives and provide a superior return
on investment. As a result of strong local demand for power in Brazil, an
unexpected delay in available electricity to power our Caeté Project has
postponed our development program for this new operation by approximately six
months. Investing the capital to produce power internally to maintain our
original schedule would be costly and imprudent. We have obtained guarantees
from CEMIG, the local power company, that Caeté's power needs will be in-place
by the first quarter of 2009, the date we now expect to begin the
commissioning of that operation. This delay provides us with additional time
to further delineate and measure newly identified mineralization located at
depth to Caeté's Roça Grande ore body. Moreover, it allows us to re-position
the Caeté Project construction team over to Turmalina to devote their efforts
to the expansion, achieving greater capacity from existing infrastructure."
    As it concerns the gold hedge, Mr. Titcomb added, "Our decision to
eliminate the hedge position that we placed in order to obtain the project
financing for Turmalina required us to examine our available capital against
our overall capital commitments. By moving the development of the Caeté
Project back by two quarters, due to the shortage of electricity and the
opportunity to add initial design capacity, we are now better able to settle
the hedge and reward our shareholders with 100% of the upside if gold prices
continue to rise."
    Jaguar Mining will be hosting a tour of its operations in Brazil October
16-19 and is open to qualified investors and analysts. If you have an interest
in participating in this upcoming tour, please contact Valéria DioDato or Bob

    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", "anticipates", "are
estimated", "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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