Mr. Dick Falconer reports

JAGUAR MINING ANNOUNCES THE APPOINTMENT OF DAVID PETROFF AS CEO AND PRESIDENT

Jaguar Mining Inc. is appointing David M. Petroff as the new president and chief executive officer of the company. He has also joined the board of directors, effective immediately.

"This is an important time in Jaguar's history as the company implements its turnaround plan. David's wealth of mining and finance experience, together with his proven track record of successful mining company turnarounds makes him uniquely qualified to lead Jaguar," said Dick Falconer, chairman of the board of directors. "The board is very pleased that it was able to attract an executive of David's calibre and we are excited to welcome him to the company."

Mr. Petroff has nearly 30 years experience in the mining industry. Most recently, he was the president and chief executive officer of Breakwater Resources Ltd. from November, 2009, until it was acquired by Nyrstar Canada in August, 2011. For nearly 25 years prior to that, he held senior management positions with Centerra Gold Inc., Cameco Corp. and Denison Mines Ltd. Mr. Petroff received a bachelor of mathematics from the University of Waterloo in 1978 and a master of business administration (finance concentration) from the Schulich School of Business, York University, in 1980.

With the appointment of Mr. Petroff as the president and chief executive officer, John Andrews has stepped down from the role of interim chief executive officer.

"In the short time that John acted as interim CEO, he had a significant impact on the company and has been instrumental in implementing the company's turnaround effort," Mr. Falconer said. "We thank John for his insight, hard work and dedication to our shareholders."