JAGGF News & Events

Jaguar Mining entered into an agreement with Red Cloud Securities as lead underwriter and bookrunner on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase for resale 4,545,455 common shares in the capital of the Company at a price of C$5.50 per Offered Share on a "bought deal" basis in a private placement for gross proceeds of C$25,000,002.50. The Company will grant to the Underwriters an option, exercisable up to 48 hours prior to the Closing Date to purchase for resale up to an additional 545,455 Offered Shares at the Offering Price for additional gross proceeds of up to C$3,000,002.50. The Underwritten Offering and the securities issuable upon exercise of the Over-Allotment Option shall be collectively referred to as the "Offering". The Company intends to use the net proceeds of the Offering to fund the restart of the Turmalina Mine at the Company's MTL Complex, exploration activities across the Company's properties as well as general working capital and corporate purposes, as is more fully described in the Offering Document. The Offering is scheduled to close on October 15, 2025, or such other date as the Company and Red Cloud may agree. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

Jaguar Mining announced a comprehensive five-year exploration plan designed to expand its gold resources and support future production growth. This initiative has been developed to systematically explore the Company's extensive mineral tenements in Brazil, with a focus on both expanding existing deposits and identifying new prospective targets. The plan encompasses all 46,619 hectares of the Company's mineral rights, with exploration efforts concentrated on the most prospective areas to advance opportunities that could support future resource growth and production potential. Key Highlights of the Five-Year Exploration Plan: Significant Gold Endowment Potential: This initiative is designed to investigate a total gold endowment ranging between 4-7 million ounces across all projects, underscoring the scale of potential within the Company's land package. Proposed Drilling Campaign: Between 2026 and 2030, the plan is to complete approximately 222,000 meters of drilling. This extensive program will be critical to expanding and defining the Company's gold resources at least at the inferred category. Strategic Project Focus: The plan outlines targeted exploration across key project areas, ensuring resources are allocated to the most prospective targets with the greatest potential to advance toward development: Paciencia Complex: Exploration will focus on extending known mineralization at Santa Isabel, Marzagao and Chame, including testing deep extensions and pursuing new discoveries such as Bahu and BIF North. The Chame project alone carries an estimated upside potential of 325,000-520,000 ounces, supported by 6,175 meters of drilling scheduled to begin in 2025. Caete Complex - Roca Grande Project: Exploration will focus on areas of established potential, including Boa Vista and Morro da Mina, alongside regional reconnaissance work at Sabara Extension, Lavra Velha, and Ze Firme. MTL Complex: Exploration will focus on the Pontal project, with the goal of fully assessing all opportunities within the area. Drilling of approximately 11,000 meters could support an estimated upside potential of 134,000-400,000 ounces. Oncas de Pitangui Project: Exploration will focus on infill drilling, alongside exploration at Aparicao, Caldas, and Taboca targets, supporting overall resource growth. Systematic Exploration Approach: This plan outlines a methodical sequence of work, including comprehensive geological mapping, geochemical surveys, and extensive exploration drilling. This approach is designed to ensure efficiency and maximize the probability of new discoveries and resource upgrades. Environmental Stewardship: All exploration activities will adhere strictly to environmental regulations, including ongoing environmental licensing processes reflecting the Company's commitment to responsible mining practices. Team and Technology: The plan incorporates a robust exploration team of experienced geologists and technical personnel, supported by advanced exploration techniques and integrated data systems to optimize results.

Jaguar Mining announced the conclusion of negotiations regarding a significant environmental fine with the State of Minas Gerais, Brazil. The Company has reached a favorable agreement to settle this administrative penalty for BRL59,988,878.25, representing a substantial reduction from an initial estimated liability of R$320M. This landmark settlement underscores Jaguar Mining's proactive engagement and unwavering commitment to responsible corporate conduct, strengthening its financial position and providing clarity for future operations. The environmental fine stemmed from an infraction notice issued following a partial slide at the Satinoco dry stacking pile (refer to News Release dated December 09, 2024). From the outset, Jaguar Mining has been dedicated to a transparent and responsible approach to addressing the incident and its implications. Through extensive negotiation, the Company and the State of Minas Gerais reached a comprehensive agreement that acknowledges mitigating factors and reciprocal concessions, leading to the greatly reduced final amount. The settlement is structured with terms aimed at supporting the Company's financial liquidity and operational continuity, while providing fair compensation for the recognized damages caused by the incident: Socio-Environmental Projects Contribution:BRL24,500,000.00 will be allocated to specific socio-environmental projects within the State of Minas Gerais. Jaguar Mining will directly acquire the necessary items for these projects, allowing for flexibility in payment terms negotiated directly with suppliers, potentially extending payment periods and becoming more favorable to the Company's cash flow. The full completion of these projects is planned within 36 months of the agreement's judicial confirmation. Installment Payment: The remaining balance of BRL35,488,878.25 will be paid in 60 equal monthly installments.. Grace Period: A grace period of 12 months to start both installments, commencing from the date of the agreement's judicial confirmation, will precede the start of the monthly installment payments. For the 60 month installment principal amount, this grace period will incur interest determined by the SELIC rate. The SELIC is Brazil's basic interest rate, set by the Brazilian Central Bank to influence the economy, control inflation, and serve as a benchmark for other interest rates. This provides Jaguar Mining with valuable time to further stabilize its operations and financial flows before payments commence. Notably, Jaguar Mining can choose to anticipate the start of payments at any time during this grace period. Should this occur, the grace period will immediately terminate, and the timeline for paying the remaining installments will begin. This comprehensive agreement not only resolves a substantial administrative penalty for a significantly reduced amount (an approximate 81.3% reduction from the initial BRL320 million estimated liability) but also includes provisions that are highly beneficial to Jaguar Mining's financial planning and operational focus.

Jaguar Mining provides an update on its remediation efforts and progress made since a slump occurred in the north wall of the Satinoco dry-stack pile at its Turmalina mine, as initially announced by the Company on December 9, 2024. Operations at the Turmalina mine remain temporarily suspended while the Company works constructively with the Brazilian National Mining Agency and other authorities. The Turmalina mine is part of the Company's MTL mining complex located in the state of Minas Gerais, Brazil, approximately 130 kilometers northwest of the city of Belo Horizonte. The Company's Pilar mine in Brazil remains operational. Within hours of the slump, the Company installed geological radars to monitor the Satinoco pile. Within two days, additional radars were installed to track any movement of the full pile. Four sumps were also constructed to manage water runoff around the slumped material, which is important given the start of the rainy season in the region. Despite recent heavy rainfall, no significant movement has been detected in the pile. The lateral extension of the slumped material damaged seven houses in the adjacent Casquilho community, which was evacuated ahead of the slide occurring. As a result, approximately 85 families have been relocated to temporary accommodations. The Company will continue to support these families until they can return to their homes or other permanent arrangements have been made. To ensure the adjacent community is protected from potential further movement of the slumped material, the Company has constructed a 400-metre-long containment barrier. This barrier was constructed within seven days of the slide, using waste rock that was stockpiled nearby. The return of residents to their homes will be dependent on assuring the future safety of the area. As previously announced, there were no reported injuries. The Company also reports that waterways in the area have not been impacted. The Company continues to work diligently to minimize the impact to the environment, local communities, and to ensure the safety of all personnel working to stabilize the pile. Planning efforts are focused on ensuring long-term stability of the pile. All actions and future plans are being coordinated between Jaguar personnel, multiple national and state agencies, and third-party specialists hired by the Company. The Company is still evaluating the timing and cost to resume operations. Next steps will include removing the material that slumped off the pile as well as beginning the process of removing material from the remaining pile to ensure its long-term stability. The Turmalina mines infrastructure is reparable, and resumption of operations will be based on ensuring future stability and safety of the area as well as the repair to affected infrastructure. The Company has reduced expenses at the MTL complex, which are trending toward care-and-maintenance levels. The Company is also developing plans to relocate some personnel and equipment from the Turmalina mine to its other two nearby mines, the operating Pilar mine and the Santa Isabel mine where a test mining project is planned. The Jaguar team remaining at the MTL complex will continue to focus on managing community relations, engaging with government agencies, planning, and the maintenance of the plant, mine and equipment for a smooth restart. It is possible that both civil and criminal lawsuits could arise from this incident and historic precedents indicate that fines are likely to be imposed. The Company does not know what the scale of these fines could be but believes that its rehabilitation efforts in the area to-date, including its proactive, responsible work with local communities and agencies, may potentially impact the level of any future fines. Based on prior incidents involving other companies in Brazil, the Company anticipates that any fines imposed on it, if applicable, would likely be paid in instalments over an extended timeframe.