Lago Dourado Recommences Phase 2 Diamond Drill Program to Test New Porphyry Target at Juruena Project, Brazil

Lago Dourado Minerals Ltd. (TSX VENTURE:LDM), (the "Company") is pleased to
announce that Phase 2 diamond drilling has recommenced on its flagship
100%-owned Juruena Project located in Mato Grosso, Brazil. Drilling will
initially test the new porphyry target identified by the recently completed IP
survey and multi-element soil sampling program. To ensure the project was
advancing in a cost-effective manner, the diamond rig was temporarily halted in
June. This stoppage of the diamond drilling has allowed for the full integration
of results from the IP survey, 3D magnetic inversion study, and the ongoing RC
drill campaign, as well as current petrology and alteration mapping work. An
8,000 metre diamond drill program is currently planned initially with one drill
rig ramping up to two rigs in the coming months.


RC Drilling Update 

Reconnaissance-style RC drilling is ongoing in the Tomate Zone and in the
central part of the main IP anomaly. RC drilling is in its final stages with
approximately 6,000 metres (80 holes) drilled to date. 


RC drilling at the Donna Maria zone has confirmed the continuity of high-grade
gold mineralization at this zone. Hole JRNRC031, drilled at the southern end of
the Donna Maria Zone intercepted 4 metres of 12.97g/t gold at a depth of 13
metres. High-grade mineralization at Donna Maria has now been proven to extend
for over 200m and is still open to the north and at depth. Drill intercepts from
this zone, including recently reviewed historic drill holes, are outlined in
Table 1 and a plan map is attached with Figure A:
http://media3.marketwire.com/docs/LDMFigureA.jpg. 


Table 1 - Donna Maria Result Summary:



----------------------------------------------------------------------------
Hole Number  Metres x           Hole Type     From       To   Length      Au
                Grams                          (m)      (m)      (m)   (g/t)
----------------------------------------------------------------------------
JRNRC030            -        Phase 2 - RC    No significant mineralization  
----------------------------------------------------------------------------
JRNRC031           52        Phase 2 - RC       13       17        4    13.0
----------------------------------------------------------------------------
including                                       14       15        1    42.8
----------------------------------------------------------------------------
JRND012           101   Phase 1 - Diamond       59       60        1   101.1
----------------------------------------------------------------------------
                   34                          105      121       16     2.1
----------------------------------------------------------------------------
J-07              153            Historic    107.7    118.2     10.5    14.6
----------------------------------------------------------------------------
                  304                        124.7    130.5      5.8    52.4
----------------------------------------------------------------------------
J-24               56            Historic     76.4     78.0      1.6    35.3
----------------------------------------------------------------------------
J-47               32            Historic    157.5    158.4      0.9    35.8
----------------------------------------------------------------------------
J-61               22            Historic    128.2    129.1      0.9    24.3
----------------------------------------------------------------------------



Note - Historic drill results are quoted as per the October 2010 Juruena
Technical Report and have not been verified. Intervals are based on a bottom
cut-off of 0.15g/t gold and do not necessarily indicate true widths. 


The intercepted high-grade zone in hole JRNRC031 was beneath shallow artisanal
workings and in an area that had not been previously drill tested.
Mineralization in the Donna Maria zone is related to an intense shear zone
splaying off the Juruena Fault and is likely connected to Au-Ag-Cu
mineralization at the adjacent Crentes Zone. The Donna Maria Zone has not been
extensively drill tested by the Company (two RC holes and one diamond hole
only), although 15 shallow holes (less than 200 metres) were drilled at this
zone historically. 


Three short step-out RC holes to the east and west of the Crentes Zone along the
main Fault and two step-out holes to the south of Crentes were drilled with no
significant mineralization intercepted. The plan map included in Figure A shows
the location of these drill holes. 


In addition to the Donna Maria and Crentes drilling, six short step-out RC holes
were drilled at the high-grade Querosene Zone to test its along strike
continuity (see Figure B: http://media3.marketwire.com/docs/LDMFigureB.jpg).
None of the holes intercepted significant mineralization. It was confirmed that
the Juruena Fault does terminate the Querosene Zone at its western end. The
mapped late and flat-lying dolerite dyke in the southern wall of the Querosene
pit, that is responsible for the abrupt discontinuance of the Querosene Zone,
was intercepted in all three holes drilled to the south. This extends its known
extent further than previously interpreted, and prevented the positive
confirmation of the extension of the high-grade mineralization further south in
the shallow RC holes. Further step-out holes below and past the late dyke
dolerite to the south will be required to continue testing the extension of this
zone. Shallow reconnaissance-style RC drilling has also been completed at the
Pista Zone (four holes) and Capixaba Zone (ten holes) however no meaningful
zones of mineralization were intercepted. 


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.
Lago Dourado Minerals Ltd. (TSXV:LDM)
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