Lago Dourado Identifies Major New Porphyry Gold-Copper Target from Recently Completed IP Survey

Lago Dourado Minerals Ltd. (TSX VENTURE:LDM), (the "Company") recently completed
an IP survey at its flagship, 100%-owned Juruena Project located in Mato Grosso,
Brazil. The 80 line-kilometre gradient IP survey was completed by FUGRO Brasil
and covered the extensive artisanal workings as well as adjacent
intrusion-related targets to the north and south. The survey was commissioned
following the Phase 1 drill campaign which identified an association between
sulfide content and gold mineralization at Juruena, indicating that significant
mineralized zones should be conductors. Highlights from the IP survey include: 




--  New porphyry target identified - the largest and strongest near-surface
    chargeability anomaly (greater than 1km x 1.5km) was identified within
    a triangular area bounded by the Crentes, Uiliam & Chico mineralized
    zones. This major IP anomaly is located directly underneath some of the
    highest gold-in-soil anomalies (greater than 200ppb) at the project and
    corresponds with the strongest coincident 'porphyry' and 'epithermal'
    elements identified from recent multi-element soil sampling (see Figure
    A). It is south of drill holes at Crentes that had significant
    disseminated Cu sulfides over long drill intervals that also had
    significant gold grades. The conductive zone is located between two
    mineralized faults and also bears a similar magnetic signature (mag
    high/mag low contact zone) to other known mineralized zones on the
    project. The size and ovoid shape of the chargeability anomaly, its
    location adjacent to the high-sulfidation Au-Cu Crentes zone, and the
    multi-element soil anomalies are all strong indicators of the Au-Cu
    porphyry potential of this target area. The strongest chargeability
    anomalies within this footprint have not yet been drill tested.  
    
--  Arrastro SE porphyry potential confirmed - an extensive elongated and
    deep (greater than 200m) chargeability anomaly was identified at the
    Arrastro SE target, situated under the centre and south eastern flank of
    the anomalous and highly-altered felsic Arrastro Hills intrusive and
    volcanic complex. This IP anomaly also corresponds with strong
    coincident 'porphyry' and 'epithermal' elements identified by soil
    sampling. This target has not been drill tested. 
    
--  The interpretation of results over South Mag/Noventa Graus is still
    ongoing. 
    
--  The collected IP & Resistivity data has been independently verified as
    being of exceptionally high quality, enabling drill hole targeting to
    proceed with confidence. The survey line spacing was approximately 400
    metres, but, within the central Crentes-Uiliam area and at Arrastro SE,
    the line spacing was reduced to 200m for increased definition and
    confidence.



Phase 2 drill program update

The Company initiated a 12,000 metre Phase 2 drill program in April consisting
of 4,000 metres of RC drilling and 8,000 metres of diamond drilling. To ensure
the project is advancing in a cost-effective manner, the diamond rig has been
temporarily halted with drilling expected to recommence in September. This
stoppage of the diamond drilling will allow for the full integration of results
from the recently completed IP survey, 3D magnetic inversion study, and the
ongoing RC drill campaign, as well as current petrology and alteration mapping
work. This ensures that the diamond drill hole targeting will be based on a much
more comprehensive and complete data set. Two follow-up drill holes at the
Uiliam Zone (Phase 1 drilling intercepted 216 metres at 0.55g/t Au) were
completed prior to the shutdown (assay results are still pending). 


Shallow reconnaissance-style RC drilling is ongoing. Although the depth
attainable by the RC rig is limited to 50-100 metres, the drilling is still able
to identify near-surface mineralized zones as well as provide valuable
geological information. The RC rig will be moved to test the new porphyry target
identified by the IP survey in the coming weeks. Initial drill results from the
RC drilling will be released once QA/QC checks have been finalized. 


Qualified Person 

Murray Paterson, P.Geo, Vice President Exploration and Development for Lago
Dourado Minerals Ltd, is the Qualified Person, within the meaning of NI
43-101,who reviewed the technical data in this news release. Samples were fire
assayed by Acme Analytical Laboratories S.A. in Santiago, Chile. 


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 over 15 square
kilometres of the property, and at least 450,000 oz of gold has been mined from
surface workings. The Company has conducted systematic exploration programs over
portions of the property and priority target areas will be drill tested with a
Phase 2 drill campaign that is expected to be ongoing through 2012. 


For further information about the company, please visit www.lagodourado.com or
www.sedar.com.


Forward-Looking Statements

This news release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as "forward-looking
statements") within the meaning of Canadian securities laws. All statements
other than statements of historical fact are forward-looking statements. Undue
reliance should not be placed on forward-looking statements, which are
inherently uncertain, are based on estimates and assumptions, and are subject to
known and unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or circumstances
contemplated by the forward-looking statements will not occur. Although Lago
Dourado believes that the expectations reflected in the forward looking
statements contained in this press release, and the assumptions on which such
forward-looking statements are made, are reasonable, there can be no assurance
that such expectations will prove to be correct. Readers are cautioned not to
place undue reliance on forward-looking statements included in this document, as
there can be no assurance that the plans, intentions or expectations upon which
the forward-looking statements are based will occur. By their nature,
forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will not occur,
which may cause Lago Dourado's actual performance and results in future periods
to differ materially from any estimates or projections of future performance or
results expressed or implied by such forward-looking statements. The
forward-looking statements contained in this news release are made as of the
date hereof and Lago Dourado does not undertake any obligation to update
publicly or to revise any of the included forward-looking statements, except as
required by applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.


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Lago Dourado Minerals Ltd. (TSXV:LDM)
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