Mr. Roger Hendriksen reports

JAGUAR MINING RESPONDS TO MARKET SPECULATION

Jaguar Mining Inc. is issuing this news release in response to recent market speculation and increased trading volume in its shares. Jaguar is not aware of any developments that would merit such trading activity.

The strategic review process initiated by the board of directors and led by the special committee is continuing and the board will provide further updates to shareholders as circumstances warrant. There can be no assurance that this strategic review process will result in Jaguar entering into or consummating any change of control or merger transaction.