TABJ - May 19 - Concord, N.H.-based Jaguar Mining Inc. today provided an update of its Q1 2011 exploration program at its operating properties and exploration concessions in the states of Minas Gerais and Maranhao, Brazil.

Jaguar’s exploration effort during Q1 2011 focused on targets in and around its existing operations: ore bodies A and B at the Turmalina mining complex, NW1 and NW3 targets at the Paciencia mining complex and at the Pilar Mine at the Caeté mining complex.

Significant intercepts of high grade gold mineralization have been confirmed at numerous zones in these brownfield targets. Jaguar also conducted exploration activities of the oxide zones at the Faina and Pontal targets near Turmalina. Jaguar Mining has begun limited mining from these oxide zones and is processing the ore at the Turmalina Plant.

Celso Frizzo, Chief Geologist, Jaguar Mining, said in a statement, “Given the large and diverse mineral concession package Jaguar holds in a prolific mining district in southern Brazil, we are confident the company has the potential to significantly increase its resource and reserve base beneath and near our existing mines.

“The very encouraging results from our 2010 and early 2011 exploration programs support this belief. Equally important, the prospects at the Gurupi Project in northern Brazil, where we are just now beginning a 30,000-metre drill program to further expand our large resource base, could sharply expand the scope of this project.”

A detailed reinterpretation of the existing Cipoeiro and Chega Tudo, geological dataset was undertaken in order to refine the Gurupi Project. Six diamond drill rigs are now operating full time. This effort is primarily focused on the up-strike mineral targets, which Jaguar expects to identify and upgrade to NI 43-101 standards. Jaguar Mining expects a portion of these new resources will be reported during the second half of 2011, with the balance reported in early 2012.

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