Lago Dourado Minerals Ltd. Announces Closing of Second Tranche of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) ("Lago Dourado" or the "Company")
is pleased to announce that it has closed the second and final tranche of its
previously announced non-brokered private placement (the "Offering") pursuant to
which it has issued an aggregate of 2,835,000 units ("Units") at a price of
$0.40 per Unit to raise aggregate gross proceeds of approximately $1,134,000,
which in addition to the $7,820,000 raised in the first tranche totals
$8,954,000. Each Unit consists of one common share and one-half of one share
purchase warrant of Lago Dourado, each whole such share purchase warrant
entitling the holder thereof to acquire one additional common share of Lago
Dourado for a period of 18 months at an exercise price of $0.60 per share.  


In connection with the Offering, Lago Dourado paid finder's fees to qualified
registrants assisting in the Offering in an amount equal to 6% of the gross
proceeds raised by such finders. One of the finders under the Offering has
elected to receive their cash commission in the form of Units at $0.40 per Unit
for an aggregate of 204,000 Units. Lago Dourado also issued 54,600 broker
warrants to qualified registrants assisting in the Offering, with each broker
warrant entitling the holder to acquire one Unit at an exercise price of $0.40
for a period of 18 months. The private placement remains subject to the final
approval of the TSX Venture Exchange. 


The securities issued are subject to a hold period expiring August 12, 2012 in
accordance with the rules and policies of the TSX Venture Exchange and
applicable Canadian securities laws.


About the Company: 

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on
advancing its 100%-owned Juruena gold project in the state of Mato Grosso,
Brazil. Extensive gold mineralization has been identified and approximately 0.5
million oz of gold has been mined from surface workings over 10 square
kilometres of the property, which remains largely untested. 


Forward-Looking Statements

Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Lago Dourado, including, but not limited to the impact of general economic
conditions, industry conditions, volatility of commodity prices, risks
associated with the uncertainty of resource and reserve estimates, currency
fluctuations, dependence upon regulatory approvals, the availability of
financing and exploration risk. Readers are cautioned that the assumptions used
in the preparation of such information, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.

Lago Dourado Minerals Ltd. (TSXV:LDM)
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