Mr. Luis Albano reports

JAGUAR MINING PROVIDES UPDATE ON GEOLOGIC INTERPRETATION AT THE CHAME GOLD EXPLORATION TARGET, BRAZIL

Jaguar Mining Inc. has provided an update on its continuing exploration program at its Chame target, part of the company's CPA project in Minas Gerais, Brazil. The exploration program at this priority target aims to delineate and expand known gold mineralization within a highly prospective geological corridor, located approximately three kilometres to the southeast of Jaguar's CPA complex (which hosts the Santa Isabel mine, slated to reopen in 2026, and processing plant, currently on care and maintenance).

"The geology team has worked very hard to advance the understanding of the Chame gold target in a relatively short time and, for that, we are proud of their accomplishments at this priority target," commented Armando Massucatto, Jaguar's general manager of exploration. "Despite the operational challenges of placing drills in this uneven terrain, the drilling has allowed us to successfully advance the geological interpretation, improving our understanding of the structural controls on mineralization, leading to an interpretation tests the potential continuity between the Chame and Santa Isabel mineralized structures. The results to date reinforce the view that Chame remains a highly prospective target area, and we are focused on executing the 2026 program in a disciplined, data-driven manner."

To date, the company has completed five diamond drill holes (FCM001 through FCM005) at the Chame target, totalling 1,531.85 metres. Assay results for the first two holes are discussed in this press release, with the samples from the remaining holes still in the assay process. Holes FCM003 to FCM005 accounted for 939.55 metres of this total (awaiting results). This drilling focused on sampling the historic system of trenches throughout the Chame area, excavated by the early explorers in the 1700s, who chased high-grade gold veins as deep as their primitive technology would allow. Jaguar's trench sampling results were encouraging in terms of near-surface gold mineralization, leading the company to make Chame a priority target for additional exploration. The prospectivity of the area, and its proximity to the CPA complex (Santa Isabel mine), satisfied the criteria of the exploration strategy of delineating additional mineralization as close to the company's mining complexes as possible.

Initial assay results have been received for the first two holes. Drill hole FCM001 intersected 15.35 metres grading 0.44 gram per tonne gold and drill hole FCM002 returned 4.09 metres grading 0.33 g/t Au. While these initial results confirmed widespread gold mineralization, they did not reproduce the higher-grade gold values previously observed in surface trench TR02.

The geological team is actively interpreting these results, noting that the low-grade envelope appears to be controlled by a shadow downplunge lineation. Current interpretation of drill holes FCM001 and FCM002 indicates that they may have intersected more marginal portions of the mineralized system, characterized by weak sulphides and strong carbonation. While visible gold was observed in core from FCM001, this did not translate directly into high analytical results, suggesting the presence of erratic or coarse gold, which may necessitate specialized sample preparation protocol and analytical techniques such as screen fire assay method or increase the sample mass for future assays.

In addition, the team is gaining greater geological understanding from the visual logging of the second pair of drill holes, FCM003 and FCM004. Drill hole FCM003 exhibited intense sericitization and sulphide alteration while FCM004 showed alteration styles more proximally associated with potentially higher-grade mineralization. These observations are crucial for refining the geological model and targeting strategy.

Historical data and verification drilling

Historical drilling was conducted at the Chame target area by the Morro Velho mining company in 1988, focusing on the Santa Isabel shear-zone-hosted gold structure. While these historical results indicate significant gold mineralization, they are not compliant with current National Instrument 43-101 standards due to the unavailability of the original drill cores for verification. To validate these historical findings and support future resource-style work, Jaguar plans to execute a series of twin holes and carry out additional drilling to support the geological continuity of Santa Isabel trend structure along the Chame target area. This verification drilling is a critical step in integrating historical data into the company's current exploration efforts.

Geological interpretation and exploration potential

Jaguar's exploration strategy at Chame is underpinned by a strong geological understanding of the broader mineralized trend. A cross-section of the region highlights a clear geological linkage between the Chame target and the company's producing Santa Isabel mine. This section reveals an approximately 840-metre-long gap between the two known deposits along a highly prospective mineralized corridor. This gap represents a significant exploration opportunity and is planned to be investigated as part of the future work at Chame this year.

Future work at Chame

Jaguar remains optimistic about the potential of the Chame target and has outlined the following immediate next steps for the exploration program:

• Further drilling: an additional 1,000 metres of drilling are planned to continue evaluating the Chame target gold trend structure; additional drilling of one hole, FCM005, is designed to evaluate drill-spacing strategy and test the central portions of interpreted boudinaged mineralized bodies related to its downplunge direction and dimensions;
• Stepout drilling: potential 25-to-50-metre stepout holes are being considered based on the geological interpretation of FCM003 and FCM004;
• Twin hole program: execution of twin holes to verify historical Morro Velho drilling results;
• Gap investigation: initial exploration work to investigate the 840-metre prospective gap between Chame and Santa Isabel;
• Targeting refinement: continuing refinement of the geological model and targeting strategy based on new data.

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by Dr. Armando Jose Massucatto, PhD, FAusIMM, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Sampling and quality assurance/quality control

Drill core samples were collected under the supervision of Jaguar Mining's geological staff. Samples were submitted to SGS-Geosol Laboratories Ltd. of Vespasiano, Minas Gerais, Brazil, an independent, accredited laboratory, for analysis. Gold assays were performed using FAA525 analytical process -- fire assay with atomic absorption finish, reported in triplicate. A comprehensive QA/QC program involving the insertion of certified reference materials, blanks and duplicates was implemented to monitor the integrity of the assay results. All structural measures were collected using the v-Star method supported by the Ore. Node structural geology software.

The Iron Quadrangle

The Iron Quadrangle has been an area of active mineral exploration dating back to the 16th century. The discovery in 1699 to 1701 of gold associated 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 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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