We propose a magnetomechanical device that exhibits many properties of a laser. The device is formed by a nanocantilever and dynamically polarized paramagnetic nuclei of a solid sample in a strong external magnetic field. The corresponding quantum oscillator and effective two-level systems are coupled by the magnetostatic dipole-dipole interaction between a permanent magnet on the cantilever tip and the magnetic moments of the spins, so that the entire system is effectively described by the Jaynes-Cummings model. We consider the possibility of observing transient and cw lasing in this system, and show how these processes can be used to improve the sensitivity of magnetic resonance force microscopy.