SOURCE: Jaguar Mining Enterprises, Inc.

August 31, 2009 16:14 ET

Jaguar Mining Enterprises, Inc. Seeks Extraction Permit on Cascaronal Mine

RICHMOND, TX--(Marketwire - August 31, 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 confirmed that all necessary studies and paperwork have been received and accepted for the Cascaronal Mine, and is eagerly awaiting the extraction permit on the mine. This permit is expected to be issued within the next 30-45 days. The Cascaronal Mine is located in the State of Jalisco, Mexico, and has an estimated reserve of 20,000,000 MT (metric tons) of iron ore.

Dale Williams, President of Jaguar Mining Enterprises, Inc., stated, "The issuance of the permit on the Cascaronal Mine is one of the final steps needed to bring this mine into production. We are especially excited about this mine in particular due to its high Fe content of over 64%. This allows us to get a better than average price for the ore."

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, 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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