Mr. Vernon Baker reports

JAGUAR MINING ANNOUNCES MANAGEMENT CHANGES TO SUPPORT NEXT PHASE OF GROWTH

Jaguar Mining Inc. has made several changes to its senior management team that are designed to strengthen its leadership structure and support the company's future growth plans.

The company has appointed Luis Albano Tondo as deputy chief executive officer, effective June 1, 2025. Mr. Albano Tondo will be based in Belo Horizonte, near the company's operations, and will transition to the role of chief executive officer following the conclusion of Vernon Baker's term as CEO on Aug. 1, 2025. Mr. Albano Tondo brings extensive experience in the mining industry from both Brazilian and international roles, including major project development in Minas Gerais and international executive experience.

To ensure a seamless leadership transition, Mr. Baker will remain with the company through the end of July, following which he will step down as CEO and a director of Jaguar. The company would like to thank Mr. Baker for his exceptional leadership over the past six years, including through recent challenges relating to the dry-stack slump and subsequent temporary suspension at the MTL complex. His steady guidance has been instrumental in maintaining stability and positioning the company for continued progress.

In addition, chief financial officer Alfred Colas will be stepping down to pursue other opportunities, effective May 31, 2025. The company would like to thank Mr. Colas for his dedication and contributions over the past 18 months, and wishes him success in his future endeavours.

The company has appointed Marina Fagundes de Freitas, currently vice-president, finance and projects, as interim CFO. Ms. Fagundes de Freitas has been with Jaguar for over 14 years, holding increasingly senior roles across finance and operations.

Jeff Kennedy, chairman and a director of Jaguar Mining, stated: "On behalf of the board, I would like to thank both Alfred and Vernon for their commitment to the company. We are excited to welcome Luis, and look forward to the leadership and experience he brings to Jaguar. We are also pleased to be able to recognize Marina's long-standing contributions and are confident that her extensive experience will serve the company well as she takes on this expanded role."

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 mining complex (the Turmalina mine and plant) and Caete mining complex (the Pilar and Roca Grande mines, and the Caete plant). The Roca Grande mine has been on temporary care and maintenance since April, 2019. The company also owns the Paciencia mining complex (the Santa Isabel mine and plant), which had been on care and maintenance since 2012, and is planned to restart in 2025.

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