Mr. Luis Albano Tondo reports

JAGUAR MINING INC. ACCELERATES 5-YEAR EXPLORATION PLAN WITH TIER 1 DRILLING PARTNERSHIPS

Jaguar Mining Inc. has made significant progress in advancing its five-year exploration plan with the strategic engagement of two world-class drilling contractors, Major Drilling Group International Inc., and GEOSOL Geologia e Sondagens S.A., to fully operationalize the program at the Chame and Bahu corridor in the Iron Quadrangle, Minas Gerais, Brazil. This area is one of the highest-priority exploration targets for Jaguar Mining as it is within one kilometre of the Santa Isabel mine underground workings and processing plant in the company's Paciencia complex.

The five-year exploration plan, first announced in 2025, has already seen early progress, with drilling at the Chame target commencing in December, 2025, through a local contractor (five holes, three of which have assays pending). Building on this foundation, Jaguar is now elevating the initiative to a Tier 1 operational standard by securing the services of Major Drilling and GEOSOL -- two industry leaders known for their technical excellence and global experience in mineral exploration.

The expanded five-year program is expected to cover a total of 227,200 metres of drilling, with an estimated cost of $43-million (U.S.) during this time. This longer-term initiative is aligned with the company's goal to explore this highly prospective gold region, with specific 2026 activities focused on the Chame and other high-priority zones in the so-called Chame and Bahu geological trend. All targets in the five-year plan are located on mineral tenements held by Jaguar Mining.

Strategic scale and operational excellence

The decision to engage Major Drilling and GEOSOL reflects the company's commitment to operational excellence and the highest standards of exploration. These partnerships are expected to enhance drilling efficiency, data quality and overall project execution, positioning the Chame target as a flagship initiative for the company's long-term growth strategy. The agreements incorporate flexible termination provisions, allowing the company to conclude the partnerships within established notice periods should exploration results deviate from the company's strategic objectives.

Armando Jose Massucatto, general manager of exploration of Jaguar Mining, commented: "The engagement of Major Drilling and GEOSOL marks a pivotal step in the evolution of our five-year exploration plan. These partnerships not only reinforce our technical capabilities but also demonstrate our commitment to delivering results at the highest operational standard. We are confident that this elevated approach will unlock the full potential of the Chame target and contribute meaningfully to our long-term exploration goals."

Luis Albano Tondo, chief executive officer, added: "By scaling up our operations with Tier 1 partners, we are ensuring that our exploration activities are conducted with the precision and dedication required to meet our ambitious targets. This strategic exploration initiative is designed to consolidate Jaguar's established position within the Iron Quadrangle, reinforcing our long-term vision of becoming a pre-eminent producer in this world-class mineral province.

Qualified person

The technical information in this release has been reviewed and approved by Armando Jose Massucatto, PGeo, general manager of exploration for Jaguar Mining. Mr. Massucatto is a qualified person as defined under National Instrument 43-101 and is responsible for the technical content of this news release.

Iron Quadrangle exploration

The Iron Quadrangle, one of the most historically significant gold-producing regions in Brazil, continues to offer substantial exploration potential. Jaguar's Chame and Bahu targets are part of a broader portfolio of high-priority exploration areas within the region, where the company has identified multiple structural corridors with strong geological and geochemical indicators of gold mineralization.

The Iron Quadrangle

The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in 1699 to 1701 of gold contaminated with iron and platinum group metals in the southeastern corner of the Iron Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world-class multimillion-ounce gold deposits such as Morro Velho, Cuiaba and Sao Bento. Jaguar Mining holds the second-largest gold land position in the Iron Quadrangle with over 46,000 hectares.

About Jaguar Mining Inc.

Jaguar Mining 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 complex (Turmalina mine and plant) and Caete complex (Pilar and Roca Grande mines, and Caete plant). The Roca Grande mine has been on temporary care and maintenance since April, 2019. The company also owns the Paciencia complex (Santa Isabel mine and plant), which had been on care and maintenance since 2012 and is under review to restart in 2026.

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