Jaguar Mining Provides 2011-2015 Financial Outlook

CONCORD, NH, Feb. 10 /CNW/ --
JAG - TSX/NYSE

CONCORD, NH, Feb. 10 /CNW/ - Jaguar Mining Inc. ('Jaguar' or the
'Company') (JAG: TSX/NYSE) is providing information concerning its
financial plan to fund its operations in Southern Brazil, develop its
Gurupi Project in Northern Brazil and meet other obligations from
operating cash flow over the period 2011 through 2015 at various gold
prices.  The information presented below assumes the Gurupi Project
does not materially change in size and scope as a consequence of the
30,000 meter drilling program recently announced by the Company. 
Should the drilling program provide evidence of a potentially
significant increase in mineralization, as suggested by drill results
obtained to-date, a decision will be made whether to scale-up the
Gurupi Project or extend the project's life.

Management is providing this information subsequent to the closing of
US$103.5 million aggregate principal amount of its 5.5% senior
convertible notes due 2016 so that investors can better understand
Jaguar's financial plan to fund operations and meet its financial
obligations.  This information may not be appropriate for any other
purpose.

The Company has updated its corporate presentation to include the
information presented within this press release.  The presentation can
be found at www.jaguarmining.com.  All references herein to $ are to US dollars unless otherwise noted.

The following table presents annual gold production over the period 2011
- 2015. These figures are based on existing installed capacity at the
Company's operations in Southern Brazil and the production estimated
from the Gurupi Project as presented in the feasibility study completed
and filed on SEDAR on January 31, 2011.




Jaguar Mining Five-Year Plan: Projected Annual Gold Production (000 ounces)

 __________________________________________________________________
|                |   2011  |   2012  |   2013  |   2014  |   2015  |
|________________|_________|_________|_________|_________|_________|
|Projected Annual|195 - 205|240 - 255|400 - 420|435 - 460|390 - 425|
|Gold Production |         |         |         |         |         |
|________________|_________|_________|_________|_________|_________|

2011 - 2015 Capital Investing Program


Over the next five years, the Company estimates that the capital
investing required to improve and sustain its existing operations in
Southern Brazil, and to fund the development of the Gurupi Project to
meet previously communicated annual production targets, is as follows:




Jaguar Mining Five-Year Plan: Capital Investing ($ millions)

 _________________________________________________________________________________
|           |      2011   |      2012   |      2013   |      2014   |      2015   |
|___________|_____________|_____________|_____________|_____________|_____________|
|Gurupi -   |         41.0|        180.4|         72.2|             |             |
|Development|             |             |             |            -|            -|
|(Base Plan)|             |             |             |             |             |
|___________|_____________|_____________|_____________|_____________|_____________|
|Gurupi -   |             |             |             |          8.6|         10.4|
|Sustaining |            -|            -|            -|             |             |
|Operations |             |             |             |             |             |
|___________|_____________|_____________|_____________|_____________|_____________|
|Southern   |             |             |             |             |             |
|Operations |         65.2|         47.0|         38.2|         43.7|         39.0|
|-          |             |             |             |             |             |
|Sustaining |             |             |             |             |             |
|CAPEX      |             |             |             |             |             |
|___________|_____________|_____________|_____________|_____________|_____________|
|Southern   |             |             |             |             |             |
|Operations |          6.6|          7.4|          7.7|          6.5|          7.0|
|-          |             |             |             |             |             |
|Exploration|             |             |             |             |             |
|CAPEX      |             |             |             |             |             |
|___________|_____________|_____________|_____________|_____________|_____________|
|     Total |        112.8|        234.8|        118.1|         58.8|         56.4|
|Capital    |             |             |             |             |             |
|Investing  |             |             |             |             |             |
|___________|_____________|_____________|_____________|_____________|_____________|

Note: Based upon exchange rate R$1.70 = $1.00

2011 - 2015 Sources of Capital


Over the five-year period through 2015, the Company intends to fund the
capital spending program outlined above from three principal sources:
cash on-hand, cash flow from operations and project-specific financings
that the Company believes it will be able to obtain from the Brazilian
Development Bank ('BNDES').  The BNDES funding, if obtained, will be
used to develop the Gurupi Project as outlined in the feasibility
study. The Company is in the process of preparing an application to
present to the BNDES requesting financing.  Management believes, based
on previous experience with the BNDES, the timing for the financing
will coincide with the build-out of the Gurupi Project during 2012.

Jaguar Mining Five-Year Plan: Sources of Capital ($ millions)

 ____________________________________________________________________________
|           |      2011  |      2012  |      2013  |      2014  |      2015  |
|___________|____________|____________|____________|____________|____________|
|           |        39.2|       115.2|       134.6|       245.7|       260.0|
|Beginning  |            |            |            |            |            |
|Cash       |            |            |            |            |            |
|Balance    |            |            |            |            |            |
|___________|____________|____________|____________|____________|____________|
|           |            |            |            |            |            |
|Convertible|        99.3|           -|           -|           -|           -|
|Notes due  |            |            |            |            |            |
|2016 - net |            |            |            |            |            |
|___________|____________|____________|____________|____________|____________|
|   Gurupi  |            |            |            |            |            |
|Project    |           -|       125.0|           -|           -|           -|
|Loans:     |            |            |            |            |            |
|BNDES      |            |            |            |            |            |
|___________|____________|____________|____________|____________|____________|
|   Cash    |            |            |            |            |            |
|from       |        95.3|       129.2|       229.2|       253.7|       230.0|
|operations |            |            |            |            |            |
|@$1,350/oz |            |            |            |            |            |
|gold       |            |            |            |            |            |
|___________|____________|____________|____________|____________|____________|
|      Total|       233.8|       369.4|       363.8|       499.4|       490.0|
|Sources of |            |            |            |            |            |
|Funds      |            |            |            |            |            |
|___________|____________|____________|____________|____________|____________|

Note: Based upon exchange rate R$1.70 = $1.00




Recognizing the uncertainty with respect to forward gold prices,
projected year-end cash balances (below) at gold prices of $1,250,
$1,350 and $1,450 per ounce have been presented. These figures
incorporate cash generated by operations over the period at these same
gold prices.

2011 - 2015 Use of Funds


The following table presents the summary of the Company's expected use
of funds over the 2011 - 2015 period, which includes capital investing
and debt repayment.  For the purposes of estimating its use of funds
over the next five years, the Company has assumed that none of the
outstanding 4.5% senior convertible notes due November 2014 will be
converted prior to maturity.  These notes are convertible into Jaguar
common shares at a price of $12.75.




Jaguar Mining Five-Year Plan: Use of Funds ($ millions)

 _______________________________________________________________________
|         |      2011  |      2012  |      2013  |   2014  |      2015  |
|_________|____________|____________|____________|_________|____________|
|Total    |       112.8|       234.8|       118.1|         |        56.4|
|Capital  |            |            |            |     58.8|            |
|Spending |            |            |            |         |            |
|_________|____________|____________|____________|_________|____________|
|Repayment|            |            |            |         |            |
|of debt -|         5.7|           -|           -|     15.6|        31.3|
|principal|            |            |            |         |            |
|_________|____________|____________|____________|_________|____________|
|Repayment|            |            |            |         |            |
|of 4.5%  |           -|           -|           -|    165.0|           -|
|notes due|            |            |            |         |            |
|11/2014  |            |            |            |         |            |
|_________|____________|____________|____________|_________|____________|
|         |       118.6|       234.8|       118.1|         |        87.7|
|Total Use|            |            |            |    239.4|            |
|of Funds |            |            |            |         |            |
|_________|____________|____________|____________|_________|____________|

Note: Based upon exchange rate R$1.70 = $1.00




Projected Year-End Cash On-Hand


Jaguar has provided a sensitivity of projected year-end cash on-hand at
annual gold prices of $1,250, $1,350 and $1,450 per ounce, holding all
other variable constant, i.e. annual gold production, exchange rates and cash operating costs. The
following table presents projected year-end cash balances under the
three gold price scenarios:




Jaguar Mining Five-Year Plan: Projected Year-end Cash On-Hand ($ millions)

 _____________________________________________________________________
|         |     2011  |     2012  |     2013  |     2014  |     2015  |
|_________|___________|___________|___________|___________|___________|
|Gold     |      101.0|      103.7|      184.7|      165.0|      275.5|
|@$1,250  |           |           |           |           |           |
|per ounce|           |           |           |           |           |
|_________|___________|___________|___________|___________|___________|
|Gold     |      115.2|      134.6|      245.7|      260.0|      402.3|
|@$1,350  |           |           |           |           |           |
|per ounce|           |           |           |           |           |
|_________|___________|___________|___________|___________|___________|
|Gold     |      129.5|      158.7|      290.4|      335.2|      510.3|
|@$1,450  |           |           |           |           |           |
|per ounce|           |           |           |           |           |
|_________|___________|___________|___________|___________|___________|

Note: Based upon exchange rate R$1.70 = $1.00 and previously issued production and cash
operating costs.

Commenting on the Company's recent note offering and the 2011 - 2015
financing plan, Mr. Daniel R. Titcomb, Jaguar's President and CEO
stated, 'The convertible notes we issued in early February provide us
with the financing necessary to commence the advancement of the Gurupi
Project on a timeline that we believe will bring this new project
on-line in 2013. We are confident that the completion of the Gurupi
feasibility study will strengthen our application for project financing
to the Brazilian Development Bank.  We believe that this financing, if
obtained, will be all the financing needed to advance Gurupi toward
production.'

Mr. Titcomb added, 'To the extent gold prices remain firm, and our
operating assets perform as expected, we believe Jaguar's value will be
recognized.'

About Jaguar


Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and is developing the
Gurupi Project in northern Brazil in the state of Maranhão.  Based on
its development plans, Jaguar is one of the fastest growing gold
producers in Brazil. The Company is actively exploring and developing
additional mineral resources at its approximate 575,000-acre land base
in Brazil.  Additional information is available on the Company's
website at www.jaguarmining.com.

Forward Looking Statements


Certain statements in this press release constitute 'forward-looking
statements' within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Canadian securities legislation. This
press release contains forward-looking statements, including statements
concerning projected cash flows from operations at various gold prices,
capital spending, estimates of projected year-end cash at various gold
prices, completion dates for the Gurupi Project, uncertainties related
to the potential scaling-up of the Gurupi project based on current
drilling and the Company's ability to finalize a financing with the
BNDES during 2012. Forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
timing of commissioning, production and results of operations to be
materially different from any future results or performance expressed
or implied by the Forward-Looking Statements.  These factors include
the inherent risks involved in the exploration and development of
mineral properties, the uncertainties involved in interpreting drilling
results and other geological data, fluctuating gold prices and monetary
exchange rates, the possibility of project cost delays and overruns or
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, uncertainties
related to production rates, timing of production and the cash and
total costs of production, changes in applicable laws including laws
related to mining development, environmental protection, and the
protection of the health and safety of mine workers, the availability
of labour and equipment, the possibility of labour strikes and work
stoppages  and changes in general economic conditions.  Although the
Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors
that cause actions, events or results to differ from those anticipated,
estimated or intended.  These forward-looking statements represent the
Company's views as of the date hereof. Subsequent events and
developments could cause the Company's views to change. The Company
does not undertake to update any forward-looking statements, either
written or oral, that may be made from time to time by or on behalf of
the Company subsequent to the date of this discussion other than as
required by law. For a discussion of important factors affecting the
Company, including fluctuations in the price of gold and exchange
rates, uncertainty in the calculation of mineral resources,
competition, uncertainty concerning geological conditions and
governmental regulations and assumptions underlying the Company's
forward-looking statements, see the 'CAUTIONARY NOTE' regarding
forward-looking statements and 'RISK FACTORS' in the Company's Annual
Information Form for the year ended December 31, 2009 filed on System
for Electronic Document Analysis and Retrieval and available at http://www.sedar.com and the Company's Annual Report on Form 40-F for the year ended
December 31, 2009 filed with the United States Securities and Exchange
Commission and available at www.edgar.com.

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