Mr. Daniel Titcomb reports

JAGUAR MINING REPORTS Q2 2010 AND YTD 2010 EARNINGS

Jaguar Mining Inc. has released its financial and operational results for the period ended June 30, 2010. All figures are in U.S. dollars unless otherwise indicated.

Second-quarter highlights for 2010:

• Second-quarter net loss in 2010 was $5.9-million or a loss of seven cents per basic and fully diluted share, compared with net income of $9.7-million or 12 cents per basic and fully diluted share in the second quarter 2009. Net income for the second quarter, 2010, was adversely impacted by significantly higher cash operating costs caused by higher dilution than planned at its underground mines, especially at Turmalina.
• Second-quarter gold sales decreased to 30,646 ounces at an average price of $1,203 per ounce, yielding revenue of $36.9-million compared with second-quarter gold sales in 2009 of 35,561 ounces at an average price of $922 per ounce and revenue of $32.8-million.
• Second-quarter gold production totalled 30,586 ounces at Turmalina and Paciencia in 2010, at an average cash operating cost of $746 per ounce, compared with 35,806 ounces at an average cash operating cost of $447 per ounce during the same period last year. The 15-per-cent drop in gold production and the net increase in cash operating costs from the prior year were attributable to a significant decrease in run-of-mine grades primarily caused by abnormally high dilution.
• Second-quarter average feed grade was 3.17 grams per tonne in 2010, compared with 4.18 g/t during the second quarter of 2009. The company continued to encounter geomechanical issues at the third level in the Turmalina orebody A ore shoot, which resulted in dilution averaging 30 per cent -- double than planned. As a consequence, less ore was shipped from the orebody to the Turmalina plant. Management believes this will continue to have an impact on the grades and production at the Turmalina operation through the balance of 2010, until the development of the fourth level is completed and Jaguar employs the new mining method.
• The decision was made in early 2010 to change the mining method from selective stoping to cut-and-fill at the fourth level and below, in the Turmalina orebody A. This changeover has been slower than planned due to geomechanical issues, specifically in developing the access ramp within the level. Management has tested and believes these modifications will significantly contribute to higher ROM grades in early 2011. A complete review and reconciliation of the grades mined and processed, compared with what was anticipated from the block model, confirm there is no change in the geology -- no decrease in in situ grades. The primary issue is fully implementing different mining techniques.
• Second-quarter gross profit for 2010 decreased to $2.1-million from $9.1-million in the second quarter of 2009.
• Second-quarter cash provided by operating activities was $4.5-million compared with $12.6-million in the second quarter of 2009. The decrease was primarily due to the higher average operating cash costs.
• The formal inauguration of Jaguar's Caete gold operation took place on June 23, 2010. The Caete plant was completed in late May and the crushing circuit was activated on May 25, 2010. Testing of the milling circuit was conducted in early June. The plant was charged with ore on June 12, 2010, formally entering the commissioning phase.
• Jaguar invested $36.5-million in growth projects in the second quarter compared with $20.1-million invested in the second quarter of 2009.
• As of June 30, 2010, the company held cash holdings of $65.4-million, including $5.9-million in short-term certificate of deposits and $900,000 in restricted cash.

Commenting on the second-quarter results, Daniel R. Titcomb, Jaguar's president and chief executive officer, stated: "Our second-quarter operational and financial performance was sharply below our plans as a result of geomechanical rock issues at the Turmalina operation. To overcome this issue, our technical team has been changing the mining method from selective stoping to cut-and-fill -- however, at a slower pace than planned. We are confident the transition to a cut-and-fill method will decrease dilution and lead to improved feed grades into the plant. Although still early, we are achieving sharp improvements in the limited number of cuts mined during July, with overall dilution now running approximately 12 to 15 per cent. However, we will not have the new development and sequencing in place until later this year, required to increase the tonnage from the primary orebody at Turmalina to meet our previous targets. Our plan to reach mid-tier status remains intact. However, we will not be in a position to provide updated production and capital expenditure figures until our engineering team completes the review of new technologies that management believes should sharply reduce our capital requirements and lower our operating costs. This analysis will be completed later this fall. Based on our present mine plans, which include the changes in mining methods at Turmalina, feed grades should improve in 2011. Moreover, with the contribution of the Caete operation, which is ramping up as anticipated, we estimate 2011 gold production could rise nearly 40 per cent over this year's revised outlook."

Highlights for the first half of 2010:

• Net loss was $10.5-million or 13 cents per basic and fully diluted share for the six months ended June 30, 2010, compared with net income of $14.5-million or 20 cents per basic share and 19 cents per fully diluted share for the same period in 2009. The net loss for 2010 was unfavourably impacted, mostly by higher costs on fewer ounces sold during the second quarter of 2010, but also by the requirement to recognize non-cash interest expense associated with Jaguar's 4.5-per-cent senior convertible notes which totalled $4.0-million for the first half of 2010.
• For the first half of 2010, gold sales totalled 67,535 ounces at an average price of $1,148 per ounce, yielding revenue of $77.5-million, compared with gold sales of 71,440 ounces at an average price of $925 per ounce and revenue of $66.1-million for the same period in 2009.
• For the first half of 2010, gold production totalled 61,810 ounces at Turmalina and Paciencia at an average cash operating cost of $671 per ounce, compared with 68,675 ounces at an average cash operating cost of $434 per ounce during the same period last year. The company's gold production for the six months ended June 30, 2010, decreased 16 per cent from the comparable period in 2009, due largely to the shutdown of oxide leaching operations at Sabara and the geomechanical issues at Turmalina.
• Gross profit for the six months ended June 30, 2010, decreased to $9.5-million from $20.4-million during the same period in 2009.
• Cash provided by operating activities during the first half of 2010 totalled $11.2-million compared with $19.3-million during the first half of 2009.
• Jaguar invested $73.4-million in growth projects during the first half of 2010, up from the $25.6-million invested during the same period in 2009. The development of the new Caete operation represented the largest investment during the first half of 2010.
• The company achieved underground development targets of 9.2 kilometres for the six months ended June 30, 2010, on plan.

Additional details are available in the company's filings on SEDAR and EDGAR, including management's discussion and analysis of financial condition and results of operations, as well as interim consolidated financial statements for the period ended June 30, 2010. The table is included in Jaguar's audited financial statements as filed on SEDAR. Readers should refer to those filings for the associated footnotes which are an integral part.

 INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
                      ($ in thousands of U.S. dollars)

                  Three months  Three months    Six months    Six months
                         ended         ended         ended         ended
                        June 30,     June 30,      June 30,      June 30,
                           2010         2009          2010          2009

Gold sales              $36,853      $32,786       $77,522       $66,072
Production costs        (25,683)     (18,568)      (50,823)      (35,651)
Stock-based 
compensation               (253)        (155)         (380)         (181)
Depletion and
amortization             (8,819)      (4,952)      (16,852)       (9,835)

Gross profit              2,098        9,111         9,467        20,405

Operating expenses
Exploration               1,171          691         2,279         1,330
Stock-based
compensation              1,246        1,090         1,173         2,084
Administration            4,819        4,059         9,116         7,821
Management fees             297          278           636           802
Amortization                126          114           250           216
Accretion expense           326          192           726           380
Other                       329          141         1,018           895

Total operating 
expenses                  8,314        6,565        15,198        13,528

Income (loss) before
the following            (6,216)       2,546        (5,731)        6,877
Loss (gain) on 
forward foreign
exchange derivatives        (61)        (540)          192          (827)
Foreign exchange 
loss (gain)                 988      (10,414)        1,477       (12,992)
Interest expense          4,268        2,650         8,249         4,864
Interest income          (1,146)      (1,251)       (2,507)       (1,750)
Disposition of 
property                 (4,956)        (455)       (5,453)         (915)
Other non-operating
expenses                      -            -             -           741

Total other
expenses (income)          (907)     (10,010)        1,958       (10,879)

Income (loss) before
income taxes             (5,309)      12,556        (7,689)       17,756

Income taxes
Current                     139          349         2,523           790
Future                      465        2,483           306         2,483

Total income taxes          604        2,832         2,829         3,273

Net income (loss)
and comprehensive
income (loss) for
the period               (5,913)       9,724       (10,518)       14,483

The company will hold a conference call on Aug. 10 at 10 a.m. EDT, to discuss the results. Management will review a presentation during the conference call that includes graphics concerning the second quarter's performance and details concerning the current initiatives at the company's operations. The presentation can be downloaded from Jaguar's website.

Callers from North America should dial 800-218-5691. International callers should dial 213-416-2192. For the replay, please dial 800-675-9924 (North America) or 213-416-2185 (international), replay No. 81010. For the webcast, please visit the company's website.