Mr. Luis Tondo reports

JAGUAR MINING INC. ANNOUNCES BOUGHT DEAL LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$25.0 MILLION

Jaguar Mining Inc. has entered into an agreement with Red Cloud Securities Inc. as lead underwriter and bookrunner on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase for resale 4,545,455 common shares in the capital of the company at a price of $5.50 per offered share on a bought deal basis in a private placement for gross proceeds of $25,000,002.50.

The company will grant to the underwriters an option, exercisable up to 48 hours prior to the closing date (as defined herein), to purchase for resale up to an additional 545,455 offered shares at the offering price for additional gross proceeds of up to $3,000,002.50. The underwritten offering and the securities issuable upon exercise of the overallotment option shall be collectively referred to as the offering.

The company intends to use the net proceeds of the offering to finance the restart of the Turmalina mine at the company's MTL complex and exploration activities across the company's properties, as well as general working capital and corporate purposes, as are more fully described in the offering document (as defined herein).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the offered shares will be offered for sale to purchasers resident in all of the provinces of Canada except Quebec pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The offered shares are expected to be immediately freely tradable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The offered shares may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended. All securities not issued pursuant to the listed issuer financing exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the closing date.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is scheduled to close on Oct. 15, 2025, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

Luis Albano Tondo, chief executive officer of Jaguar, commented: "We are pleased to announce this $25.0-million private placement, which reflects the market's confidence in Jaguar's assets and strategy. The funds raised will enable us to advance the restart of the Turmalina mine and expand our exploration activities in the highly prospective Iron Quadrangle. This financing enhances our balance sheet and reduces risk across our portfolio, positioning the company to pursue increased production and ongoing resource growth. We view this offering as an important step forward in our continued progress."

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 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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