SOURCE: Jaguar Mining Enterprises, Inc.

March 08, 2010 06:00 ET

(JAGR): Jaguar Mining Enterprises Declines All Financing Parties as They Are More Than Confident They Will Reach the Company's Goals Without Any Outside Funds and Has Been Talking to Several Large Potential Joint Ventures, Which They May Engage Only if Necessary

RICHMOND, TX--(Marketwire - March 8, 2010) -  Jaguar Mining Enterprises, Inc. (PINKSHEETS: JAGR) is pleased to announce to our shareholders that we are on target of our projected schedule as excavation at the Cascaronal Mine will commence this month.

Due to an influx of inquiries showing a great deal of interest in Jaguar Mining Enterprises from both public and private companies, President and CEO Dale Williams has been traveling the country, and has in the past several weeks engaged in talks with several joint venture potential partners. We have been and are aggressively pooling all of our resources together so we can have all of our mining machinery in place and crews mining in the extreme near term which should be our target date.

Dale Williams said, "We will of course name our joint venture partner when all pieces are in place at the mine if we decide to engage with one of them .I have had my team of geologists and my crews of many years studying this specific mine for some time in order to create more revenue by being more efficient and of course excavating the amount of proven reserves at the mine. We firmly believe our shareholders will be very pleased as we have been efficient in our ways and by having true hands-on professionals on-site preparing to extract. We plan on having live video on-site at Cascaronal mine as we feel our equity holders will enjoy knowing that (JAGR) has been and will continue to work to meet all corporate goals and to ensure the best R.O.I. for our shareholders."

Mr. Williams commented, "At the present time we are not looking for any financing and have no plans in changing our corporate structure at all because we believe we will be able to retain the capital needed to start and finish this project internally or with the joint venture. This is an exciting time for Jaguar Mining Enterprises as we are now much closer to realizing our goal of putting the Cascaronal mining project into full production, generating revenues and profits and enhancing our Shareholder value."

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:

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, iron ore production 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 from the expected results.

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Contact Information

  • Company Contact:
    Dale E. Williams
    Jaguar Mining Enterprises, Inc.
    1860 FM 359, #177
    Richmond, TX 77406
    Phone: (281) 712-1235
    Fax: (281) 520-4378

    Investor Relations Contact:
    Microcap Management, LLC
    2004 A West 120th Avenue
    Westminster, CO 80234
    Phone: (303) 465-2388
    Fax: (303) 465-2507