Jaguar Mining Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported gold sales of $41,170,000 against $50,972,000 a year ago. Loss before income taxes was $6,723,000 against earnings before income taxes of $1,996,000 a year ago. Comprehensive loss for the period was $6,926,000 against comprehensive income for the period of $2,809,000 a year ago. Diluted loss per share was $0.08 against diluted earnings per share of $0.03 a year ago. Net cash from operating activities was $11,071,000 against net cash used in operating activities of $6,127,000 a year ago. Mineral exploration projects were $367,000 against $5,162,000 a year ago. Purchase of property, plant and equipment was $7,316,000 against $18,976,000 a year ago. The first quarter 2013 result includes an interest expense of $8.2 million, a loss on disposition of property of $1.7 million, and a $1.1 million unrealized non-cash gain on the conversion option embedded in convertible debt. Excluding non-operating items, Jaguar's first quarter result was a net income of $1.9 million or $0.04 per fully diluted share. The company announced gold production for the quarter ended March 31, 2013 totaled 24,836 ounces compared to 31,233 ounces of gold in the first quarter of 2012. The decline in comparative quarterly production levels was the result of the company's decision to place the Paciência operation on care and maintenance beginning in May 2012 and a transition of mining and ground support methods which, during the course of implementation, negatively impacted production cycle times in the Turmalina operation. The company announced 4% increase in gold production (excluding Paciência) from 23,895 ounces in first quarter 2012 to 24,836 ounces in first quarter of 2013. The company announced that it reiterates 2013 gold production guidance of between 85,000 to 95,000 ounces and cash operating costs are expected to be in the range of $950 to $1,100 per ounce (based on an assumed exchange rate of BRL 2.0 per $1.0). Capital expenditures for 2013 are anticipated to be approximately $36.6 million of which $21.7 million is expected to be spent at Caeté and $12.7 million at Turmalina. Capital expenditures for 2013 are targeted at development, infill diamond drilling and resource diamond drilling to improve the quality of information available to the mining teams so appropriate decisions can be made concerning grade control and plant feed.

Jaguar Mining Inc., Q1 2013 Earnings Call, May 14, 2013

Jaguar Mining Inc. announced that the remaining $25 million under the $30 million standby credit facility with Renvest Mercantile Bancorp Inc. through its Global Resource Fund is now available to be drawn down by the company. At this time the company has no immediate plans to draw down any funds under the facility. Jaguar previously referenced the Facility in the news releases dated January 25, 2013 and December 17, 2012. The Facility is available for, among other things, working capital requirements related to Jaguar's Turmalina, Paciência and Caeté mining projects in Brazil.