( CNN ) -- Former champion Angel Cabrera and America 's Brandt Snedeker are tied for the lead after the third round of the Masters at Augusta National Golf Club . The 2009 champion from Argentina and Snedeker , who tied for third at Augusta in 2008 , both shot three-under par rounds of 69 to finish on seven under par , one shot ahead of Australia 's Adam Scott , who also shot 69 on Saturday . After a steady 16 holes , overnight leader Jason Day finished with two bogeys to slip back into a tie for fourth alongside another Australian Marc Leishman ( 72 ) with America 's Matt Kuchar one shot further back after posting a 69 earlier in the day . Despite not having a spectacular day on the course , Tiger Woods still managed to grab the majority of the headlines . The world No.1 finished on three-under par , four shots off the lead , but began his day not knowing whether he 'd be competing at all over the weekend following a rule violation at the par five 15th during Friday 's second round . Speculation mounted on Saturday morning that Woods might be disqualified for taking a drop in the wrong place after his ball had ricocheted off the flagstick on 15th green and back into the water hazard at the front . But having sought an explanation from Woods , the Augusta National rules committee , who described him as `` very forthright '' and `` honest , '' concluded that the four-time Masters champion should incur a two-stroke penalty . Woods ended up shooting a round of 70 and was n't firing on all cylinders but is now well placed to mount a challenge in Sunday 's final round . `` I hit it all right today . I missed a few putts here and there . I had a few opportunities to shoot a lower score but the finish was huge - the last three saves certainly kept me in the ball game , '' Woods said . Woods is tied for seventh place with South Africa 's Tim Clark whose five-under par round of 67 was the best of the day . America 's Jim Furyk , Ricky Fowler and Steve Stricker are currently tied for ninth at two-under par alongside England 's Lee Westwood and two-time champion , Germany 's Bernhard Langer . China 's teenage star Guan Tianlang battled his way to five-over par 77 to leave the 14-year-old amateur nine-over par for the tournament . Guan 's third round was two strokes better than Rory McIlroy , who played his way out of contention with a disastrous round of 79 . The Northern Irishman 's round fell apart at the 11th where his approach found the water . He walked off having carded a triple-bogey seven . His ball also found water at the 15th which contributed two more dropped shots before bogeying the 16th to leave McIlroy five over for the tournament . Defending champion Bubba Watson posted a two-under par round of 70 -- his best round of the week -- to leave him in a tie for 28th on two-over par .
Ángel Cabrera and Brandt Nelson are joint leaders of the Masters after three rounds . Former champion Woods and Snedeker are one shot ahead of Australia 's Adam Scott . Overnight leader , Jason Day tied for fourth with fellow American Marc Leishman . Tiger Woods received two - stroke penalty for a violation on Friday and is tied for seventh .