Jaguar Mining Reports Updated Mineral Reserves and Mineral Resources

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Boosts Proven and Probable Mineral Reserves by 63%

TORONTO, ON / ACCESS Newswire / March 31, 2025 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG)(OTCQX:JAGGF) is pleased to announce its annual Mineral Reserves and Mineral Resources (MRMR) statement for 2024.

Detailed tabulations and discussion of this 2024 MRMR disclosure may be found within the Company's Annual Information Form for the year ended December 31, 2024, which was filed today. An updated Technical Report for the MTL complex was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and also filed today. Both documents can be found under Jaguar's profile on SEDAR+ https://www.sedarplus.ca.

HIGHLIGHTS

• Proven and Probable Mineral Reserves (2P Mineral Reserves) increased by 63% to 764 koz (5,903 kt @ 4.03 g/t Au), net of mining depletion. The Onças de Pitangui projectreported the first Mineral Reserves of 284 koz (2,122 kt @ 4.16 g/t Au).

• Measured and Indicated (M&I) Resources decreased by 1% net of depletion to 1,659 koz (12,325 kt @ 4.19 g/t Au).

• Inferred Mineral Resources increased to 1,676 koz (14,621 kt @ 3.56 g/t Au), highlighting the Company's strong growth potential.

• Onças de Pitangui project measured and indicated resources increased by 2% to 457 koz (3,547 kt @ 4.01 g/t Au) and inferred resources increased by 29% to 490 koz (4,184 kt @ 3.64 g/t Au).

• Life of Mine (LOM) plans at Pilar demonstrate five years of production starting in 2025, while the MTL complex LOM, with the inclusion of the Onças de Pitangui reserves and resources, demonstrates gold production well past 2030.

On December 7, 2024, a slump occurred in the north wall of the Satinoco dry-stack (waste rock and tailings) pile at the Company's MTL complex in the state of Minas Gerais, Brazil, approximately 130 kilometers northwest of the city of Belo Horizonte. As a result of the Incident, the Company's operating license at the complex's Turmalina mine was temporarily suspended until further notice. The mine's personnel and nearby community members were evacuated before the slump occurred, and there were no reported injuries or significant environmental impacts as a result of the incident.For more information please see the press releases issued on December 9, 2024, December 30, 2024, January 7, 2025 and March 26, 2025, which can be found on the Company's website and under Jaguar's profile on SEDAR+ at .Qualified PersonsThe scientific and technical information contained in this press release has been reviewed and approved (i) in respect of the estimated Mineral Reserves, by Jason Cox, P.Eng. and Jeff Sepp, P.Eng., and (ii) in respect of the estimated Mineral Resources, by Pierre Landry, P. Geo. (MTL and Paciência complexes), Reno Pressacco, P. Geo. (Caeté and Paciência complexes), and Dorota El-Rassi, P. Eng. (Pontal deposit) of SLR Consulting Canada Ltd (SLR), which office is situated at 55 University Avenue, Suite 501, Toronto, Ontario, M5J 2H7, Canada.SLR is an independent mining consultancy. Mr. Cox, Mr. Sepp, Mr. Landry, Ms. El-Rassi and Mr. Pressacco are each "qualified persons" within the definition of NI 43-101.During the preparation of the updated Mineral Resource and Mineral Reserve estimates, discussions were held on a weekly basis with Jaguar personnel and Deswik Brazil Holdings Pty Ltd. (Deswik).Mr. Pressacco, Mr. Cox and Mr. Sepp have visited the MTL, Caeté and Paciência complexes several times. Mr. Pressaco and Mr. Sepp's latest visit to the properties occurred in December 2022.All remaining scientific and technical information (other than described above) contained in this press release has been reviewed and approved by Jean-Marc Lopez BSc. PGeo, FAusIMM, of JML Consulting & Geology EI, who is a "qualified person" as defined by NI 43-101.Quality ControlAll sampling and samples utilized at Jaguar for Mineral Resource and or Mineral Reserves estimation uses a quality-control program that includes insertion of blanks and commercial standards in order to ensure best practice in sampling and analysis.HQ, NQ, and BQ size drill core is sawn in half with a diamond saw. Samples are selected for analysis in standard intervals according to geological characteristics such as lithology and hydrothermal alteration. Rock channel sampling of the underground development follows the same standard intervals as for the drill core.Half of the sawed sample is forwarded to the analytical laboratory for analysis while the remaining half of the core is stored in a secure location. The drill core and rock chip samples for resource-reserve conversion and grade control samples are transported for physical preparation and analysis in securely sealed bags to the Jaguar in-house laboratory located at the company´s Caeté Complex, Caeté, Minas Gerais. Growth exploration samples are sent to the independent ALS Brazil (subsidiary of ALS Global) laboratory located in Vespasiano, Minas Gerais, Brazil. The analysis of these exploration samples is conducted at ALS Global's respective facilities (fire assay is conducted by ALS Global in Lima, Peru, and multi-elementary analysis is conducted by ALS Global in Vancouver, Canada). ALS has accreditation in a global management system that meets all requirements of international standards ISO/IEC 17025:2005 and ISO 9001:2015. All major ALS geochemistry analytical laboratories are accredited to ISO/IEC 17025:2005 for specific analytical procedures.For a complete description of Jaguar's sample preparation, analytical methods, and QA/QC procedures, please refer to "Technical Report on the Roça Grande and Pilar Operations, Minas Gerais State, Brazil", a copy of which is available on the Company's SEDAR profile at .Mineralized material for each orebody was classified into the Measured, Indicated, or Inferred Mineral Resource categories based on the search ellipse ranges obtained from the variography study, the observed continuity of the mineralization, the drill hole and channel sample density, and previous production experience from these orebodies.The Mineral Resources are inclusive of Mineral Reserves. For those portions of the Mineral Resources that comprise the Mineral Reserve, stope design wireframes were used to constrain the outlines of the Mineral Resource volumes.The Iron QuadrangleThe Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in 1699-1701 of gold contaminated with iron and platinum-group metals in the south-eastern corner of the Iron Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world-class multi-million-ounce gold deposits such as Morro Velho, Cuiabá, and São Bento. Jaguar Mining is the second largest operating gold company tenement holder in the Iron Quadrangle, holding or having access to approximately 46,600 hectares distributed among 56 mining and exploration titles (23,800 hectares held by Jaguar and 22,900 hectares held by Iamgold).About Jaguar Mining Inc.Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims. The Company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the MTL Mining Complex (Turmalina mine and plant) and Caeté Mining Complex (Pilar and Roça Grande mines, and Caeté plant). The Roça Grande mine has been on temporary care and maintenance since April 2019. The Company also owns the Paciência Mining Complex (Santa Isabel mine and plant), which had been on care and maintenance since 2012 and is planned to restart in 2025. Additional information is available on the Company's website at .