CONCORD, New Hampshire, Dec. 6, 2011, 2011 (Canada NewsWire via COMTEX) --
Jaguar Mining Inc.
("Jaguar" or the "Company") (TSX: JAG) (NYSE: JAG) announced that
Daniel Titcomb will be leaving his role as President and Chief
Executive Officer of the Company effective today.
On an interim basis, the Chairman of the Board of Directors, Gary E.
German, together with two other Jaguar directors, Gil Clausen and John
Andrews, will form a newly-created Office of the Chairman to fulfil the
duties of the Chief Executive Officer. These directors also constitute
a Special Committee of the Board charged with oversight of the
Company's strategic process announced in November.
Mr. German has over 35 years of experience in developing and financing
global resource projects and companies. Mr. Clausen is the President
and Chief Executive Officer and a director of Augusta Resource
Corporation. He has over 25 years of executive, operational, business
development/finance, project, and engineering management experience in
the mining industry. Mr. Andrews has more than 40 years of executive
and mining operations management experience in the precious and base
metals industry in the United States, Canada, South America and
Africa. He is currently the principal owner of Andrews PGM Consulting
and previously served as President, Chief Operating Officer and
Director of Stillwater Mining Company.
The Board expresses its gratitude to Mr. Titcomb for his dedicated
service to Jaguar since the company was founded in 2003. "Dan led the
Company from inception through the development of multiple producing
mines, the acquisition of Gurupiand growth of the operations team to
over 2,200 employees," said Mr. German. "We thank him for the value he
has added to our company and wish him success in his future
Jaguar is a gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais. Jaguar is also engaged in
developing the Gurupi Project in the state of Maranhão as described
above. 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
256,300-hectare land base in Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
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SOURCE: Jaguar Mining Inc.
Gary E. German, Chairman of the Board 647-274-0587