SOURCE: Jaguar Mining Enterprises, Inc.

September 09, 2009 16:27 ET

Jaguar Mining Enterprises Issues Special Letter to Shareholders

RICHMOND, TX--(Marketwire - September 9, 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, today announced that it has issued a Special Letter to Shareholders to update existing JAGR investors on the current status of Jaguar Mining, and more importantly, its future growth outlook. Excerpts from the letter follow:

"Currently, our primary emphasis is to develop an iron ore reserve containing 20 million metric tons (mt) at our Cascaronal Project in Jalisco, Mexico. We have completed all necessary studies and documentation for permitting and expect commence extraction within the next 45 days. Our plans are to convert the Cascaronal Mine from pre-production to production, with the mine being brought up to full production within 120 days thereafter. Once mining operations have commenced, we believe that over 2,000 tons of iron ore can be mined daily resulting in over $4.5 million in revenues over the next fiscal year with earnings of nearly $1 million."

"In spite of recent market volatility, we expect that rising worldwide demand will likely produce a tight market into next year. Iron ore prices are normally set in annual talks between major suppliers and customers. As they have been unable to agree upon a benchmark price, iron ore is being sold on the open market. Prices spiked in early August, but we have seen a decline since then. The company's policy of strict fiscal discipline and cost control will help us weather these up and down prices we're now seeing, and allow us to be profitable as we move forward."

The full shareholder letter can be viewed on Jaguar Mining's website at:

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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