Jaguar Mining Inc. announced the appointment of Mr. Vernon Baker as Chief Executive Officer. Ben Guenther, interim CEO will step down, effective immediately but will remain on Jaguar Mining's Board of Directors. The appointment of Mr. Baker as CEO is the conclusion of Jaguar's review of strategic alternatives previously announced by the Company.

The Board believes that the execution of the Company's business plan under Mr. Baker's leadership will be the best path forward for the Company to maximize value for shareholders. The Company also announced the acceptance of Mr. Richard Falconer's resignation as an independent director and the appointment of Rodney Lamond to the Board. Mr. Lamond previously served as Jaguar Mining Chief Executive Officer from December 2015 to August 2018.

Mr. Vernon Baker will be appointed as the new Chief Executive Officer effective August 6, 2019. Mr. Baker brings over 35 years of mining industry experience. He has extensive management and operations expertise at globally focused mid-tier and senior mining companies.

Most recently, he was General Manager at Goldcorp's Cerro Negro Mine in Argentina, overseeing 3,000 tonnes per day of high-grade production and implementing programs to reduce costs, grow production and development, and leading strong safety improvement to achieve an AIFR of 0.28 in 2017. Previously, Mr. Baker held management and senior leadership roles with various mining companies including President at Duluth Metals Limited, Vice President of Operations at FNX Mining, General Manager at Barrick Goldstrike Mines Inc., and General Manager of Hemlo Operations, a Joint Venture of Teck Cominco and Barrick Gold.