Mr. Luis Tondo reports

JAGUAR MINING INC. RECEIVES FEDERAL AUTHORIZATION TO BEGIN PREPARATORY WORK AT TURMALINA MINE

Jaguar Mining Inc. has received authorization from the National Mining Agency of Brazil (ANM) to proceed with essential preparatory work at its Turmalina mine. Operations at the mine have been temporarily suspended since December, 2024, following an incident at the Satinoco dry-stacked pile.

While the authorized activities do not directly address the stability of the pile, they are essential to fulfilling all safety prerequisites required for the phased restart of production. This work includes development of a secondary access route for the Faina and C-8 orebodies, along with key modifications to the mine's ventilation system. Implementation of these began on Aug. 9, 2025.

This federal approval follows the recent issuance of a municipal permit (Alvara) by the Municipality of Conceicao do Para, which also allows the company to begin preparatory work ahead of the anticipated restart of operations. The municipal permit is valid for three months and may be renewed for an additional three months, supporting the continuing work plan.

In parallel, the company is also finalizing a term of agreement with the Public Prosecutor's Office, which includes an independent technical audit to confirm safety at Turmalina as well as a payment to settle the only remaining public civil lawsuit related to the Satinoco incident of which the company is aware.

Although full mining activities are not permitted yet, these regulatory milestones mark meaningful progress toward restarting operations at Turmalina and reflect the company's commitment to operating with the highest standard of regulatory safety and environmental responsibility.

Work is now under way on the approved activities, with the restart of production still expected to begin in the first quarter of 2026.

Luis Albano Tondo, chief executive officer of Jaguar, commented: "The federal authorization granted by ANM, together with the recent issuance of the municipal Alvara permit, demonstrates a well-co-ordinated and phased regulatory framework that enables us to initiate essential safety and preparatory work at Turmalina. This is an important milestone in our ongoing, structured process. With the preparatory activities in the mine under way and following the completion and independent confirmation of the Satinoco rehabilitation, we expect ANM will lift the remaining suspensions, allowing for the safe and full resumption of mining operations."

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 holds the second-largest gold land position in the Iron Quadrangle with over 45,000 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 (the Turmalina mine and plant) and the Caete 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 complex (the Santa Isabel mine and plant), which had been on care and maintenance since 2012 and is planned to restart in 2025.

We seek Safe Harbor.