Jaguar Mining Inc. announced that it has made an initial draw down of $5 million on its previously announced $30 million standby credit facility with Renvest Mercantile Bancorp Inc. through its Global Resource Fund. Consistent with the terms of the Facility, the Lender received an upfront fee and draw down fee together comprising 570,919 shares of Jaguar's common stock and $150,000 in cash. The Lender has advanced the initial draw down as the process to complete registration of the remaining security under the Facility continues to be completed.

The remaining $25 million under the Facility will be available to be drawn down by the Company once certain of the remaining security has been registered. Jaguar intends to use the proceeds from the initial drawdown and any subsequent drawdowns from the Facility for working capital related to its Turmalina, Paciência or Caeté mining projects in Brazil.