Lago Dourado Engages Dr. David Groves as a Technical Advisor to the Company

TORONTO, ONTARIO--(Marketwire - June 23, 2011) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM), (the "Company") is pleased to announce that it has engaged the services of Dr. David Groves as a Technical Advisor to the Company focusing on exploration at the Juruena Gold Project in Mato Grosso, Brazil. The Agreement was effective June 22, 2011.

Dr. Groves, formerly a Professor of Economic Geology at the University of Western Australia, has co-authored over 500 geological and scientific publications with a particular focus on economic geology, the formation of mineral deposits, particularly gold, and conceptual targeting of mineral deposits. He has received eleven medals for his research including the 2011 SGA-Newmont Gold Medal of the European Society of Economic Geologists, the 2010 Penrose Gold Medal of the Society of Economic Geologists, and the 1995 Geological Association of Canada Medal. He is a Fellow of the Australian Academy of Science and formerly the President of the Geological Society of Australia, the Society of Economic Geologists and SGA. David Groves has served on the Boards or acted as a Consultant to several major mining companies as well as to other junior exploration companies.

"We are very pleased to have someone of David's calibre and experience involved in the exploration process at our flagship Juruena Gold Project" said Forbes Gemmell, President and CEO. "We believe his extensive geological experience, especially his focus on world-class to giant mineral deposits across all continents, will be a key factor in achieving exploration success at Juruena."

About the Company:

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing its 100%-owned Juruena gold project in the state of Mato Grosso, Brazil. Extensive gold mineralization has been identified, and at least 0.5 million oz of gold has been mined from surface workings, over 10 square kilometres of the property, which remains largely untested. An expanded phase I drill campaign (18,000 metres) is currently underway and is expected to continue throughout 2011. The Company currently has 62.1 million shares outstanding.

For further information about the company, please visit www.lagodourado.com or www.sedar.com.

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.