SOURCE: Jaguar Mining Enterprises, Inc.

September 23, 2009 16:15 ET

Jaguar Mining Enterprises Announces Revised Projections on Cascaronal Mine

RICHMOND, TX--(Marketwire - September 23, 2009) - Jaguar Mining Enterprises, Inc. (PINKSHEETS: JAGR), an independent mining company engaged in the acquisition, development, and exploitation of iron ore primarily mined in Mexico, announced today that it has received a revised estimate on the reserves of the Cascaronal Mine. In addition to the main body of iron ore estimated at 20 million metric tons, it is projected that there is an additional 10-15 million metric tons of iron ore located just outside of the main body.

"This additional amount of iron ore located at the Cascaronal Mine expands our options of production," said Dale Williams, President of Jaguar Mining Enterprises. "While this extends the life of the mine, it also raises the possibility of expanding the workforce to increase production."

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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