Mr. Luis Tondo reports

JAGUAR MINING REPORTS SOLID Q2 2026 RESULTS: PRODUCTION GROWS 19% DRIVEN BY THE TURMALINA MINE RAMP-UP & CONSISTENT PILAR MINE PERFORMANCE

Jaguar Mining Inc. has released its operating results for the second quarter of 2026. These results demonstrate the company's continuing commitment to resilient and strategic operations, with continued progress toward safe and sustainable practices at the Turmalina mine and the Pilar mine. Full financial results for the quarter will be reported and filed on SEDAR+ in mid-August. All figures are in U.S. dollars, unless otherwise expressed.

Second quarter 2026 operating highlights:

• Consolidated gold production: Total gold production reached 13,057 ounces in Q2 2026, comprising 9,063 ounces from the Pilar mine and 3,994 ounces from the Turmalina mine. This represents a 19-per-cent increase compared with the 10,973 ounces produced in Q2 2025, when production was derived exclusively from Pilar (10,731 ounces) and 242 ounces from a metallurgical test of the Faina orebody (within the Turmalina mine). Quarterly production also exceeded guidance and budget expectations by 306 ounces. A key milestone during the quarter was the successful ramp-up of the Turmalina mine following its restart, contributing approximately 31 per cent of consolidated production and re-establishing an important source of gold production for the company.
• Pilar mine performance: The Pilar mine produced 9,063 ounces of gold, from 96,020 tonnes processed, with an average head grade of 3.30 grams per tonne gold and recovery of 89 per cent. This compares with 10,731 ounces produced in Q2 2025 from 92,846 tonnes processed at an average head grade of 4.04 g/t Au. The quarter was characterized by higher ore throughput and lower average head grades, reflecting increased contributions from development ore and lower stoping volumes. During the quarter, the mine also advanced initiatives to increase mining flexibility, including the incorporation of additional mining faces and continuing ventilation improvements, supporting access to new production areas and improving operational reliability for the second half of the year.
• Turmalina mine performance: The Turmalina mine produced 3,994 ounces of gold from 50,190 tonnes processed, at an average head grade of 2.94 g/t Au and a recovery of 84 per cent, as mining and processing activities continued to ramp up successfully following the restart of operations in early March, 2026. Ore processed during the period was sourced 90 per cent from orebodies B and C and 10 per cent from the Faina orebody, with the strong recovery performance supported by the better-than-expected results from Faina ore, which achieved approximately 70-per-cent recovery. Additional ore from Faina continued to be stockpiled for increased processing in Q3 2026, improving operational flexibility and supporting future production growth. Turmalina contributed approximately 31 per cent of consolidated gold production during the quarter. (Note: The Turmalina mine is composed of orebodies referred to as A, B, C and Faina.)
• Development progress: Development remains a key strategic priority at both operations as the company focuses on increasing mining flexibility, expanding available mining areas and supporting full-year production targets. At the Pilar mine, 1,165 metres of primary and secondary development were completed during the quarter, with activities focused on critical mine access and infrastructure projects. At the Turmalina mine, 790 metres of development were completed to support the ramp-up of operations and the opening of additional mining areas. These initiatives are expected to improve mine sequencing flexibility and support production delivery in the second half of 2026.
• Drilling progress: Jaguar completed 11,203 metres of diamond drilling, including 5,398 metres at the Turmalina mine and 5,805 metres at the Pilar mine, in line with plan. Drilling activities remained focused on orebody definition and mine plan support, targeting the BA and SW zones at Pilar and orebodies B, C and Faina at Turmalina. In the second half of 2026, the company plans to expand drilling activities to include resource growth targets, supporting future reserve replacement and long-term production growth.
• Strong cash position: As of June 30, 2026, closing cash totalled $74.8-million (and net cash of $68.5-million), up from closing cash of $72.1-million at the end of the previous quarter and up from closing cash of $48.3-million as of June 30, 2025. During the quarter, payments and disbursements were made related to the Satinoco dry-stacked facility incident, including compensation to affected families. The company also benefited from favourable gold prices, which averaged $4,506 per ounce in the quarter and $4,612 per ounce year to date.

"We delivered a strong quarter, with consolidated production of 13,057 ounces, up 19 per cent year over year," commented Luis Albano Tondo, chief executive officer of Jaguar. "The Turmalina mine contributed 31 per cent of total as it continues its ramp-up phase. At Pilar, production of 9,063 ounces was supported by higher throughput and strategic investments in development and drilling to expand mining flexibility for the second half of the year. Turmalina's performance was a highlight with 3,994 ounces, with stronger-than-expected recoveries from the testing of the material from the Faina deposit. Our financial position continues to strengthen, with closing cash of $74.9-million, up from $48.3-million a year ago. We remain on track to deliver our full-year guidance in the range of 50,000 to 60,000 ounces, with the investments in development and drilling this quarter laying the groundwork for sustained production growth."

Note: The Pilar mine is composed by orebodies referred to as BA and SW.

2026 production guidance/outlook

For 2026, Jaguar Mining forecasts gold production in the range of 50,000 to 60,000 ounces, driven by the continued strong performance from the Pilar and Turmalina mines.

Qualified person

Scientific and technical information contained in this press release has been reviewed and approved by Luis Albano Tondo, BSc (mining engineering), MEngSc, MBA, FAusIMM, who is also chief executive officer and board member of Jaguar Mining and is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The Iron Quadrangle

The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery from 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 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 (the Turmalina mine and plant) and 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 under review to restart in 2026.

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