An anonymous director of Outrider reports

OUTRIDER MANAGEMENT, LLC ANNOUNCES OWNERSHIP IN JAGUAR MINING INC.

On April 22, 2014, a fund managed by Outrider Management LLC acquired ownership of 36,044,388 common shares of Jaguar Mining Inc. pursuant to the implementation of a plan of compromise and arrangement under the Companies' Creditors Arrangement Act (Canada). The common shares were acquired (i) in exchange for certain notes issued by Jaguar, which were owned by a fund managed by Outrider prior to the restructuring, and (ii) pursuant to a subscription for common shares by a fund managed by Outrider in a new share offering completed by Jaguar as part of the restructuring.

The restructuring also included a consolidation of Jaguar's previously issued and outstanding common shares on the basis of one new common share for every 86.39636 existing common shares.

Following the implementation of the restructuring (including the consolidation), Jaguar has disclosed that there will be an aggregate of 111,106,262 common shares issued and outstanding.

Following the restructuring, a fund managed by Outrider owns an aggregate of 36,044,388 common shares, which constitutes approximately 32.4 per cent of the total number of common shares outstanding following the completion of the restructuring.

The common shares acquired by a fund managed by Outrider in the share offering were acquired at a price of 70.47 U.S. cents per common share (approximately 77.51 cents per common share). The common shares acquired by a fund managed by Outrider in the share offering were acquired, in part, pursuant to the terms of a backstop agreement dated as of Nov. 13, 2013, between a fund managed by Outrider and Jaguar, a copy of which is available under Jaguar's profile on SEDAR.

The common shares owned by a fund managed by Outrider are held for investment purposes. Outrider may, subject to market conditions and in compliance with applicable securities laws, make additional investments in, or dispositions of, securities of Jaguar, including additional purchases or dispositions of common shares.