Mr. David Petroff reports

JAGUAR MINING TO APPOINT DOUGLAS WILLOCK AS CFO FOLLOWING THE RESIGNATION OF JAMES ROLLER

Jaguar Mining Inc. will appoint Douglas Willock as the company's chief financial officer in January, 2013, following the resignation of James Roller, who is leaving the company to pursue other opportunities. Mr. Willock, who was born in Brazil, has over 30 years of experience in corporate finance with leading Canadian and international investment banks, as well as managing junior resource companies. Most recently he served as president, chief executive officer and director of Polar Star Mining Corp., and is currently a director and chair of the audit committee for Orestone Mining Corp. Mr. Willock holds a master of business administration degree with a major in finance from the Richard Ivey School of Business, Western University, and a bachelor of arts (history) degree from the University of British Columbia. He attended the Beijing Language Institute on a joint government of Canada and China scholarship from 1976 to 1977.

Commenting on Mr. Willock's appointment, David Petroff, Jaguar's president and CEO, stated: "We are very pleased and fortunate to have Doug step in to fill this important role at this critical time for Jaguar. In addition to his extensive knowledge, experience and relationships in corporate finance, Doug brings to the company a can-do attitude and leadership style that I am certain will be highly valuable to our organization. We welcome him to the company and to the management team.

"We also want to express our thanks to Jim for his many valuable contributions to Jaguar. He has been a key member of the management team for many years, and played an important role in the company's growth and expansion. His leadership and constancy will be missed. We wish Jim the very best in his future endeavours."