Lago Dourado Minerals Ltd. Announces Closing of First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwire - March 30, 2012) -

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Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) ("Lago Dourado" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") pursuant to which it has issued an aggregate of 19,550,000 units ("Units") at a price of $0.40 per Unit to raise aggregate gross proceeds of approximately $7,820,000. Each Unit consists of one common share and one-half of one share purchase warrant of Lago Dourado, each whole such share purchase warrant entitling the holder thereof to acquire one additional common share of Lago Dourado for a period of 18 months at an exercise price of $0.60 per share.

In connection with the Offering, Lago Dourado paid finder's fees to qualified registrants assisting in the Offering in an amount equal to 6% of the gross proceeds raised by such finders. Lago Dourado also issued 700,500 broker warrants to qualified registrants assisting in the Offering, with each broker warrant entitling the holder to acquire one Unit at an exercise price of $0.40 for a period of 18 months. The private placement remains subject to the final approval of the TSX Venture Exchange.

The securities issued are subject to a hold period expiring July 31, 2012 in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.

The second tranche of the Offering is scheduled to close on or about April 5, 2012.

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 approximately 0.5 million oz of gold has been mined from surface workings over 10 square kilometres of the property, which remains largely untested.

Forward-Looking Statements

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Lago Dourado, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.