Mr. Luis Albano Tondo reports

JAGUAR MINING COMMENCES NEW UNDERGROUND DRILLING PROGRAM TARGETING UNTESTED HIGH-GRADE ZONES AT TURMALINA MINE, BRAZIL

Jaguar Mining Inc. has commenced a new underground diamond drilling program at its Turmalina mine in Minas Gerais, Brazil. The program will test two growth opportunities: the depth extension of the Faina orebody and an upper-level extension of orebody A, referred to as the A/SE2 lens, that has never been systematically drill tested. To access the SE2 target, the company has begun developing a dedicated 80-metre underground exploration drift, expected to be completed by early October, 2026, which will serve as the drill platform for the campaign.

Highlights

• Faina depth extension: To date, seven drill holes (2,024 metres in total) have been completed testing the depth extension of the Faina orebody down to the 640 m level. Core logging and sampling are under way, with assay results to be released in due course. This represents the first phase of a multiorebody drilling program at the Turmalina mine.
• New exploration drift: Development of a dedicated 80 m underground exploration drift that provides access to orebody A/SE2 lens, with completion expected by early October, 2026.
• Orebody A/SE2 target: The program targets the hangingwall continuity (SE2 lens) of orebody A across the interval between the 640-plus m and 400-plus m elevations (sea level), covering a panel of approximately 105 m along strike by 285 m down plunge, representing an extension of orebody A that has never been drill tested at these upper levels.
• Supporting indications: Of the limited number of historical diamond drill holes that intercepted the target zone and were assayed, several returned positive gold results, while most of the panel remains undrilled.
• In-mine growth opportunity: If confirmed, the program could extend known mineralization directly within the operating underground mine, accessible from existing infrastructure.
• Campaign design: Twenty planned drill holes totalling approximately 2,380 m, on an approximately regular 50 m by 50 m grid.

"This new drilling program targets one of the most promising and least explored zones within the Turmalina mine, the A/SE2 lens, which is the upper-level extension of orebody A. Given the consistently high-grade mineralization and strong metallurgical recoveries already demonstrated elsewhere in orebody A, we see meaningful potential to add new ounces from within our existing underground infrastructure," commented Armando Jose Massucatto, general manager of exploration at Jaguar Mining.

Exploration rationale

The area to be drilled lies between the A1 and A3 mine levels, developed during the early stages of the Turmalina operation. The A400 level was the first level developed and mined within the SE2 lens; however, from the uppermost sublevel downward, the lens was not adequately drilled and remains almost entirely untested. As a result, its continuity was not confirmed, and the lens was neither fully developed nor mined. If drilling confirms the mineralization, this represents a significant, largely unexplored opportunity located directly within the existing mine.

Orebody A -- ore characteristics and geological setting

Orebody A is characterized by high-grade gold mineralization with strong historical metallurgical performance, an average gold recovery of approximately 88.20 per cent across all ore processed to date. This consistent performance reinforces the economic relevance of confirming further mineralized continuity along the SE2 hangingwall extension through the current drilling program.

The mineralization occurs within biotite schists that experienced medium- to high-grade metamorphism at temperatures of approximately 650 degrees Celsius. The primary ore assemblage consists of arsenopyrite, lollingite, pyrrhotite, pyrite and gold. A subsequent paragenetic stage is recognized, marked by gold remobilization coeval with the precipitation of native bismuth and bismuth tellurides.

Drilling campaign summary

The planned campaign comprises 20 drill holes totaling approximately 2,380 metres, with roughly 50-metre-by-50-metre spacing between impact points. Drilling will be conducted from the new 80 m exploration drift, providing efficient underground access to test the A/SE2 lens across the targeted 640-plus m to 400-plus m interval.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Armando Jose Massucatto, geologist, PhD, general manager of exploration for Jaguar Mining, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 plants) 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), which had been on care and maintenance since 2012 and is now undergoing development work to restart in early 2027.

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