Announcement • Jun 15

Jaguar Mining Reports Consistent Drilling Results At The BA Zone Of The Pilar Gold Mine Brazil Demonstrating Down-Plunge Continuity

Jaguar Mining Inc. reported the latest results from its ongoing diamond drilling program at the Pilar Gold Mine, located within the Iron Quadrangle in Minas Gerais, Brazil. The current campaign successfully targeted the down-plunge extensions of the BA Zone within the Pilar Mine, demonstrating that high-grade mineralization remains robust and predictably continuous at depth. Drilling confirms that the BA Zone mineralization extends over 1.5 km down-plunge and remains open at depth, indicating significant untapped potential. Consistent gold grades and structural thickness support high-certainty modeling for an additional 300 vertical meters beyond current mining levels. These results validate the strategy to convert the gold mineralization in this highly prospective exploration target into formal Mineral Resources, supporting the potential expansion of the Life of Mine. Key intercepts significantly exceed the mine's current average reserve grade, including 5.30m @ 8.52 g/t Au and 10.00m @ 5.82 g/t Au. The mineralized zones at the Pilar Mine are primarily hosted within a robust Banded Iron Formation sequence. The gold mineralization is structurally controlled by the intersection of regional fold axes with the Banded Iron Formation layer, which creates concentrated mineralized shoots of higher-grade material. The open nature of these folds at depth is a critical factor for the deposit's scale. These structural elements provided the necessary accommodation space for the circulation of gold-bearing hydrothermal fluids during the mineralizing event. Because these folds are continuous and well-defined, the resulting mineralization follows a predictable geometry. The risk of losing the mineralized zone at depth is significantly reduced, as the geological model continues to be validated by every new drill hole. The following table summarizes the most significant intercepts from the recent drilling campaign at the BA Zone. All grades are reported as uncut, and widths represent the Estimated True Width. The Company believes that the property has the potential for additional ounces below the extent of the current active underground workings. This is based on previous exploration on the property, including over 2,873 historic drill holes. The exploration target potential was derived by modeling the identified vein systems, and their surrounding halo mineralization, as evidenced by drill intercepts in the exploration target area, across vertical long sections of the mine area. There has been insufficient exploration to define a mineral resource with respect to the exploration target, and the Company cautions that there is a risk further exploration will not result in the delineation of a mineral resource. Jaguar Mining maintains a rigorous QA/QC program at the Pilar Mine. All diamond drill core is logged, photographed, and split with a diamond saw at the Company’s secure facility. Samples are transported to the Company’s on-site laboratory or accredited third-party laboratories. The program includes the insertion of certified standards, blanks, and duplicates into the sample stream to ensure the precision and accuracy of the analytical results.

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Jaguar Mining Reports Consistent Drilling Results At The BA Zone Of The Pilar Gold Mine Brazil Demonstrating Down-Plunge Continuity

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