Jaguar Mining Files Disclosure Document in Connection with Previously Announced Private Placement of Convertible Debentures

PRESS RELEASE

September 24, 2015 2015-21 For Immediate Release TSX-V: JAG

NOT FOR DISTRIBUTION IN THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

JAGUAR  MINING  FILES  DISCLOSURE  DOCUMENT  IN  CONNECTION  WITH   PREVIOUSLY  ANNOUNCED  PRIVATE  PLACEMENT  OF  CONVERTIBLE  DEBENTURES    

Toronto,   Ontario,   Canada   –   September   24,   2015   –   Jaguar   Mining   Inc.   ("Jaguar"   or   the "Corporation")   (TSX-­‐V:   JAG)   announced   today   that,   further   to   its   press   releases   dated September  14,  2015  and  September  18,  2015  announcing  the  proposed  non-­‐brokered  private placement   (the   "Offering")   of   convertible   senior   secured   debentures   ("Debentures"),   the Corporation   has   filed   on   SEDAR   as   a   "Material   Document"   a   disclosure   document   (the "Disclosure  Document")  relating  to  the  Offering  and  the  anticipated  participation  (the  "Outrider Subscription")  by  Outrider  Management,  LLC,  an  insider  of  the  Corporation,  which  Disclosure Document  is  being  provided  to  disinterested  minority  shareholders  whose  written  consent  to the   Outrider   Subscription   will   be   sought   in   connection   with   the   Offering.   A   copy   of   the Disclosure   Document   can   be   accessed   under   the   issuer   profile   of   Jaguar   on   SEDAR   at www.sedar.com.

In   connection   with   the   Offering,   the   Corporation   expects   to   pay   certain   finders   a   cash commission  of  up  to  4%  of  the  total  proceeds  raised  in  the  Offering  from  subscriptions  from purchasers   that   such   finders   introduced   to   the   Offering,   and   finder's   warrants   ("Finder's Warrants")  to  purchase  such  number  of  common  shares  of  the  Corporation  as  is  equal  to  up  to 4%  of  the  total  number  of  common  shares  issuable  on  conversion  of  the  Debentures  issued  to purchasers   that   such   finders   introduced   to   the   Offering.   The   Finder's   Warrants   will   have   an exercise  price  of  $0.15  per  common  share  with  an  expiry  date  of  three  years  from  the  closing date  of  the  Offering,  subject  to  the  approval  of  the  TSX  Venture  Exchange.

This  news  release  shall  not  constitute  an  offer  to  sell  or  the  solicitation  of  an  offer  to  buy  any securities  in  any  jurisdiction.

About  Jaguar  Mining  Inc.

Jaguar  is  a  gold  producer  with  mining  operations  in  a  prolific  greenstone  belt  in  the  state  of Minas   Gerais,   Brazil.   Additionally,   Jaguar   wholly   owns   the   large-­‐scale   Gurupi   Development

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Project  in  the  state  of  Maranhão,  Brazil.  In  total,  the  Corporation  owns  mineral  claims  covering an   area   of   approximately   197,000   hectares.   Additional   information   is   available   on   the Corporation's  website  at  www.jaguarmining.com.

FOR  FURTHER  INFORMATION  PLEASE  CONTACT:  

Derrick  Weyrauch Chief  Financial  Officer (416)  628-­‐9601 [email protected]

FORWARD-­‐LOOKING  STATEMENTS

Certain   statements   in   this   news   release   constitute   "Forward-­‐Looking   Statements"   within   the   meaning  of  the  U.S.  Private  Securities  Litigation  Reform  Act  of  1995  and  applicable  Canadian   securities  legislation.  Such  statements  constitute  forward-­‐looking  statements  (forecasts)  under   applicable   securities   laws   relating   to   future   events   or   future   performance   and,   in   this   news   release,   include   comments   with   respect   to   (i)   the   Debentures   and   the   Offering,   (ii)   the   participation   of   Outrider   Management   in   the   Offering,   (iii)   the   seeking   of   the   consent   of   disinterested  minority  shareholders  with  respect  to  the  Outrider  Subscription,  (iv)  the  amounts   and   form   of   any   finder's   fees   paid   in   connection   with   the   Offering,   and   (v)   the   terms   of   the   Finder's  Warrants.  Forward-­‐looking  statements  can  generally  be  identified  by  the  use  of  words   such  as  "expected",  "forecasted",  "targeted",  "approximately",  "intends",  "plans",  "anticipates",   "projects",   "continue",   "estimate",   "believe"   or   variations   of   such   words   and   phrases,   or   statements  that  certain  actions,  events  or  results  "may",  "could",  "would",  "might",  or  "will"  be   taken,   occur   or   be   achieved.   In   this   news   release,   information   contained   in   forward-­‐looking   statements  is  based  on  current  expectations,  estimates  and  projections  that  involve  a  number  of   known  and  unknown  risks  and  uncertainties,  including  among  others  the  uncertainties  inherent   to  capital  markets  in  general,  uncertainties  with  respect  to  the  success  of  the  Offering,  and  risk   of   not   obtaining   all   regulatory   and   minority   shareholder   approvals,   which,   if   incorrect,   may   cause  actual  results  to  differ  materially  from  those  anticipated  by  Jaguar  and  described  herein.    

For  additional  information  with  respect  to  these  and  other  factors  and  assumptions  underlying   the   forward-­‐looking   statements   made   in   this   news   release,   see   Corporation's   most   recent   annual   information   form   and   management's   discussion   and   analysis,   as   well   as   other   public   disclosure  documents  that  can  be  accessed  under  the  issuer  profile  of  "Jaguar  Mining  Inc."  on   SEDAR  at  www.sedar.com.  The  forward-­‐looking  information  set  forth  herein  reflects  Jaguar's   expectations  as  at  the  date  of  this  news  release  and  is  subject  to  change  after  such  date.  The   Corporation   disclaims   any   intention   or   obligation   to   update   or   revise   any   forward-­‐looking   statements,  whether  as  a  result  of  new  information,  future  events  or  otherwise,  other  than  as   required   by   law.   The   forward-­‐looking   information   contained   in   this   news   release   is   expressly   qualified  by  this  cautionary  statement.  

The  TSX  Venture  Exchange  does  not  accept  responsibility  for  the  adequacy  or  the  accuracy  of   this  release.