Jaguar Mining Closes Previously Announced C$86.25 Million Private Placement of Units

Mar 22, 2007 Download PDF

Jaguar Mining Inc. ("Jaguar" or "the Company") (JAG-TSX) announced today that it has closed its previously announced private placement (the "Offering") of C$75,000,000 of Units. The Units were sold by a syndicate led by TD Securities Inc. and included Blackmont Capital Inc., BMO Capital Markets and RBC Capital Markets. The underwriters exercised the option to purchase an additional 15% of the number of the Units offered to cover over-allotments, resulting in aggregate gross proceeds of C$86.25 million.

Each Unit is comprised of a secured note in the principal amount of C$1,000, bearing a coupon of 10.5%, payable semi-annually in arrears, and 25 common shares of Jaguar, which in aggregate represents approximately 2.16 million shares, which will result in dilution of approximately 3.5% to shareholders.

As previously stated, the Company intends to use the proceeds from this Offering to continue exploration and development work in the Paciência Region, advance other Company properties including assessment and feasibility studies at the Caeté Project, and acquire long lead-time components critical to the overall development of mining operations, and other general corporate purposes.

About Jaguar
Jaguar is one of the fastest growing gold producers in Brazil with operations in a prolific greenstone belt in the state of Minas Gerais. Jaguar is actively exploring and developing additional mineral resources at its 72,000 acre land base. Additional information is available on the Company's website at

For Information:

Investors and analysts:

Bob Zwerneman
Director of Investor Relations

Media inquiries:
Valéria Rezende DioDato
Director of Communication