SOURCE: Jaguar Mining Enterprises, Inc.

December 16, 2009 07:00 ET

Production at Jaguar Mining Enterprises' Cascaronal Mine to Commence in January 2010

RICHMOND, TX--(Marketwire - December 16, 2009) - Jaguar Mining Enterprises, Inc. (PINKSHEETS: JAGR) announced today that iron ore extraction at its Cascaronal Mine is scheduled to commence on January 19, 2010. The company has recently contracted a local firm to begin construction of roads to facilitate the extraction and transportation of iron ore from the mining site. Production at Cascaronal is now anticipated to commence in January, with ramp up likely to be completed by April. With estimated reserves of 20 million metric tons, at full capacity the Cascaronal Mine is expected to contribute 25,000 tons per month of production to Jaguar Mining.

Dale Williams, President and CEO of Jaguar Mining, commented: "Commencing production at a new mine is a milestone for any company to achieve. Our mining team has worked diligently to achieve this goal under very difficult financial conditions. We thank our strategic partners who patiently worked with us to make this a reality."

About Jaguar Mining Enterprises, Inc.:

Jaguar Mining Enterprises, Inc. is an independent mining company engaged in the acquisition, development, and exploitation of iron ore primarily mined in Mexico. The Company specializes in the exploitation of iron ore mines with proven reserves. The Company's strategy is to locate, acquire and develop mine locations that contain sufficient quantities of iron ore and require minimal start-up costs. For additional information regarding Jaguar Mining Enterprises please visit: www.jaguarminingenterprises.com

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.

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