JAGUAR INTERCEPTS HIGH-GRADE GOLD MINERALIZATION AT PILAR GOLD MINE RESUMES GROWTH EXPLORATION DRILLING AT PILAR Infill drilling results confirm model grades and thickness of main orebodies: Orebody BF2: 10.64 g/t Au over 9.8m; Orebody BF: 9.88 g/t Au over 3.88m;
NEWS RELEASE
February 12, 2020 TSX: JAG
FOR IMMEDIATE RELEASE
JAGUAR INTERCEPTS HIGH-GRADE GOLD MINERALIZATION AT PILAR GOLD MINE
RESUMES GROWTH EXPLORATION DRILLING AT PILAR
Infill drilling results confirm model grades and thickness of main orebodies:
Orebody BF2: 10.64 g/t Au over 9.8m; Orebody BF: 9.88 g/t Au over 3.88m;
Orebody BA: 6.16 g/t Au over 10.00m
Over 18,000 metres of planned growth exploration drilling
Toronto, February 12, 2020 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) is pleased to
announce results of its 2019 Infill diamond drilling campaign and the resumption of growth exploration drilling
activities at its Pilar Mine Operation (“Pilar”).
Infill Drilling completed in 2019 confirms expected modelled grade and thickness of the main and subsidiary
Pilar Banded Iron Formation ( “BIF”) Orebodies which are the source of current production. This drilling is
expected to support replacement of Mineral Reserves net of 2019 production depletion.
Definitions: ETW – estimated true width, g/t Au – grams per tonne gold, m – metres, grade (g/t Au) x thickness
(m) = GM (gram – metres).
At Pilar, 26 infill drilling intersections have grade (g/t Au) x thickness (m) results > 25 gram metres (GM) with the
best results from Orebody BF2, reporting 10.64 g/t Au over 9.8m, Orebody BF, reporting 9.88 g/t Au over
3.88m and Orebody BA reporting 6.16 g/t Au over 10.00m. (see Table 1, Figure 1 and Appendix 1 and 2) .
The 2019 infill drilling program completed 14,300 metres.
Geological mapping of development, especially at the lower levels of the mine has allowed a greater appreciation
and understanding of the complex , structural fold geometries which are prominent features of the BIF hosted
mineralization. Updated schematics derived from ongoing geological mapping activities and current structural
interpretation are presented in Figure 2.
Contractor, Major Drilling, have mobilized an underground diamond rig dedicated to growth exploration at Pilar
through 2020. This drilling (18,600 metres) will focus on further delineation of depth and lateral extensions to
the currently exploited and known mineralized BIF packages (BF, BF2 , BF3 and BA orebodies) as well as the
more recently identified SW, Sao Jorge and Torre mineralization packages (see Press Release dated June 4,
2019). The location of targeted 2020 infill and growth exploration drilling (9,000 metres) is presented in Figure
3.
Vern Baker CEO, Jaguar Mining commented: “The positive infill drilling results reported today from Pilar follow
the equally positive results recently reported for the Turmalina Mine (see press release dated January 28, 2020).
Resumption of growth exploration is a key part of our plan to build long -term, sustainable mines with growth
upside for increasing our resource base. Our Infill drilling activities are expected to continue replacing depleted
reserves. Exploration drilling at Pilar will target extending our consistent production zones, which are centred on
our BIF orebodies, as well as developing new resources in areas higher up in the mine. Sustaining our four-year
reserve inventory continues to provide the foundation of our sustained production. I look forward to more positive
results from this next phase of growth drilling at Pilar.
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Jon Hill, Expert Advisor, Geology and Exploration, Jaguar Mining Management Committee commented: “this
new phase of growth exploration drilling will continue to leverage our geological knowledge gathered from
previous underground structural mapping , development and infill drilling completed in 2018 and 2019 . The
current drilling program will target further delineation and evaluation of the Pilar Mineralized Zones laterally from
the existing mine infrastructure as well as down plunge extensions located below current mining levels. This
strategy will target additional productivity via increased ounces per vertical met re and increase life of mine via
depth extensions to mineralized zones.”
Figure 1. 2019 Infill Drilling Results Pilar Mine – Intercepts with greater than 25 gram metres.
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Table 1. 2019 Infill Drilling Results Pilar Mine – Intercepts with greater than 25 gram metres.
Summary of Significant Intersections, Drilling Program
Jaguar Mining Inc. – Pilar Mine
Hole ID From
(m)
To
(m)
Down Hole
Interval (m)
Estimated True
Width (m)
Gold Grade
(g/t Au)
GT
(GM)
Date
(mm/dd/yyyy)
Orebody BA
PPL621 16.38 23.42 7.04 6.75 4.61 31.12 9/23/2019
PPL622 11.00 21.24 10.24 9.30 4.53 42.13 9/30/2019
PPL624 20.00 32.00 12.00 10.00 6.16 61.60 12/6/2019
Orebodies BF, BF2 and BF3
FSB745 0.00 11.60 11.60 11.30 4.11 46.44 6/3/2019
PPL547 178.65 186.90 8.25 7.70 7.65 58.91 6/3/2019
PPL551 198.15 204.20 6.05 5.20 6.25 32.50 7/1/2019
FSB810 0.00 6.70 6.70 3.33 9.74 32.43 12/6/2019
FSB847 18.80 29.40 10.60 6.50 7.11 46.22 1/3/2020
PPL583 17.60 21.80 4.20 3.88 9.88 38.33 1/4/2020
PPL553 159.00 219.00 60.00 9.56 5.39 51.53 8/9/2019
PPL604 164.00 181.00 17.00 3.50 15.97 55.90 6/3/2019
FSB700 12.60 18.85 6.25 6.17 8.38 51.70 6/3/2019
FSB724 0.00 13.60 13.60 5.59 4.68 26.16 6/3/2019
FSB742 2.85 12.50 9.65 8.99 3.10 27.87 6/27/2019
FSB763 0.00 11.50 11.50 9.65 3.32 32.04 6/27/2019
PPL550 162.45 186.25 23.80 4.50 7.75 34.88 6/27/2019
PPL551 162.15 194.15 32.00 4.60 8.61 39.61 7/1/2019
PPL606 145.50 158.80 13.30 12.80 1.95 24.96 7/1/2019
PPL606 176.05 181.40 5.35 5.25 6.85 35.96 8/28/2019
PPL613 58.00 73.00 15.00 14.65 1.99 29.15 8/28/2019
FSB807 0.00 10.08 10.08 9.80 10.64 104.27 12/6/2019
FSB808 1.95 13.40 11.45 8.25 4.27 35.23 12/6/2019
PPL604 87.80 120.10 32.30 5.31 6.26 33.24 6/3/2019
PPL602 69.40 76.00 6.60 6.20 6.96 43.15 6/3/2019
PPL616A 36.00 48.90 12.90 12.30 3.00 36.90 8/28/2019
PPL558 137.00 142.00 5.00 4.50 7.70 34.65 11/4/2019
Orebody LPA
PPL547 201.90 206.45 4.55 4.30 9.13 39.26 6/3/2019
PPL552 195.00 206.00 11.00 10.57 4.18 44.18 9/30/2019
FSB848 0.00 2.30 2.30 1.90 23.93 45.47 1/3/2020
Orebody SW
FSB766 19.45 29.40 9.95 9.30 4.36 40.55 6/27/2019
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 2 . Pilar Mine – Schematic Plan showing the relative geological s etting and locatio n of Pilar
Orebodies BA, BF, BFII, BFIII, Torre, SW and Sao Jorge.
PLAN VIEW
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 3. Location of planned 2020 Infill and Growth Exploration Drilling at Pilar Mine .
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Table 2. Meterage of 2020 Infill and Growth Exploration Drilling Pilar Mine.
Qualified Person
Scientific and technical information contained in this press release has been reviewed and approved by
Jonathan Victor Hill, BSc (Hons) (Economic Geology - UCT), FAUSIMM, Senior Expert Advisor Geology and
Exploration to the Jaguar Mining Management Committee, who is also an employee of Jaguar Mining Inc., and
is a “qualified person” as defined by National Instrument 43 -101 - Standards of Disclosure for Mineral Projects
(“NI 43-101”).
Quality Control
Jaguar continues to use a quality-control program that includes insertion of blanks and commercial standards in
order to ensure best practice in sampling and analysis.
HQ, NQ, and BQ size drill core is sawn in half with a diamond saw. Samples are selected for analysis in standard
intervals according to geological characteristics such as lithology and hydrothermal alteration . All diamond drill
hole collars are accurately surveyed using a Total Station instrument and down -hole deviations are surveyed
using a non-magnetic north seeking Reflex GyroTM
Mean grades are calculated using a variable lower grade cut -off (generally 0.5g/t Au). No upper gold grade cut
has been applied to the data. However, the requirement for assay top cutting will be assessed during future
resource work.
Half of the sawed sample i s forwarded to the analytical laboratory for analysis while the remaining half of the
core is stored in a secure location. The drill core samples from growth exploration drillholes are transported in
securely sealed bags and sent for physical preparation to the independent ALS Brazil (subsidiary of ALS Global)
laboratory located in Vespasiano, Minas Gerais, Brazil.The analysis is conducted at ALS Global’s respective
facilities (fire assay are conducted by ALS Global in Lima, Peru, and multi -elementary analysis are conducted
by ALS Global in Vancouver, Canada). ALS has accreditation in a global management system that meets all
requirements of international standards ISO/IEC 17025:2005 and ISO 9001:2015. All major ALS geochemistry
analytical laboratories are accredited to ISO/IEC 17025:2005 for specific analytical procedures.
The infill drilling results presented on this news release are from drill holes completed by both Major Drilling on
contract and Jaguar Mining Inc´s own drilling machines . The infill samples are transported for physical
preparation and analysis in securely sealed bags to the Jaguar in-house laboratory located at the Roça Grande
Mine, Caeté, Minas Gerais.
For a complete description of Jaguar’s sample preparation, analytical methods and QA/QC procedures, please
refer to the “Technical Report on the Roça Grande and Pilar Operations, Minas Gerais State, Brazil ”, a copy of
which is available on the Company’s SEDAR profile at www.sedar.com.
The Iron Quadrangle
The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in
1699–1701 of gold contaminated with iron and platinum -group metals in the southeastern corner of the Iro n
Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world -
class multi-million-ounce gold deposits such as Morro Velho, Cuiabá, and São Bento. Jaguar holds the second
largest gold land position of a gold producer in the Iron Quadrangle with just over 25,000 hectares.
20-Jan 20-Feb 20-Mar 20-Apr 20-May 20-Jun 20-Jul 20-Aug 20-Sep 20-Oct 20-Nov 20-Dec
Definition 300 300 300 300 300 300 300 300 300 300 300 300 3600
Infill 1200 1200 1200 600 600 600 5400
Exploration 600 600 600 1200 1200 1200 1200 1200 1200 9000
Exploration Coorporate 800 800 800 800 800 800 800 800 800 800 800 800 9600
Total Meterage 2300 2300 2300 2300 2300 2300 2300 2300 2300 2300 2300 2300 27600
Total
Pilar
Q1 Q2 Q3 Q4SITE
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in
Brazil with three gold mining complexes and a large land pa ckage with significant upside exploration potential
from mineral claims covering an area of approximately 64,000 hectares. 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
Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Grande Mines, and Caeté Plant).
The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance since
2012. The Roça Grande Mine has been on temporary care and maintenance since April 2018. Additional
information is available on the Company's website at www.jaguarmining.com.
For further information, please contact:
Vern Baker
Chief Executive Officer
Jaguar Mining Inc.
+55 (31) 3232-7101
Hashim Ahmed
Chief Financial Officer
Jaguar Mining Inc.
416-847-1854
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward -looking statements and information are provided for the purpose of
providing information about manage ment's expectations and plans relating to the future. All of the forward -
looking information set forth in this news release is qualified by the cautionary statements below and those made
in our other filings with the securities regulators in Canada. Forwar d-looking information contained in forward -
looking statements can be identified by the use of words such as "are expected", "is forecast", "is targeted,”
"approximately," "plans," "anticipates," "projects," "continue," "estimate," "believe," or variations of such words
and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will" be
taken, occur or be achieved. All statements, other than statements of historical fact, may be considered to be or
include forward-looking information. These forward -looking statements are made as of the date of this news
release and the dates of technical reports, as applicable. This news release contains forward-looking information
regarding potential and, among other things, expec ted future mineral resources, potential mineral production
opportunities, geological and mineral exploration statistics, ore grades, current and expected future assay
results, and definition/delineation/exploration drilling at the Pilar Gold Mine and the T urmalina Gold Mine in
Brazil, as well as forward -looking information regarding costs of production, capital expenditures, costs and
timing of the development of projects and new deposits, success of exploration, development and mining
activities, capital r equirements, project studies, mine life extensions, and continuous improvement initiatives.
The Company has made numerous assumptions with respect to forward -looking information contained herein,
including, among other things, assumptions about the estimat ed timeline and for the development of the drill
program at the Pilar Gold Mine (and its expanded exploration footprint) and the Turmalina Gold Mine; its mineral
properties; the supply and demand for, and the level and volatility of the price of, gold; the accuracy of reserve
and resource estimates and the assumptions on which the reserve and resource estimates are based; the
receipt of necessary permits; market competition; ongoing relations with employees and impacted communities;
and political and legal developments in any jurisdiction in which the Company operates being consistent with its
current expectations including, without limitation, the impact of any potential power rationing, tailings facility
regulation, exploration and mine operating licenses and permits being obtained and renewed and/or there being
adverse amendments to mining or other laws in Brazil and any changes to general business and economic
conditions. Forward -looking information involves a number of known and unknown risks and uncerta inties,
including among others: the risk of Jaguar not meeting its plans regarding its operations and financial
performance; uncertainties with respect to the price of gold, labor disruptions, mechanical failures, increase in
costs, environmental complianc e and change in environmental legislation and regulation, weather delays and
increased costs or production delays due to natural disasters, power disruptions, procurement and delivery of
parts and supplies to the operations; uncertainties inherent to capit al markets in general (including the
sometimes volatile valuation of securities and an uncertain ability to raise new capital) and other risks inherent
to the gold exploration, development and production industry, which, if incorrect, may cause actual resu lts to
differ materially from those anticipated by the Company and described herein. In addition, there are risks and
hazards associated with the business of gold exploration, development, mining and production, including without
limitation environmental h azards, tailings dam failures, industrial accidents and workplace safety problems,
unusual or unexpected geological formations, pressures, cave -ins, flooding, chemical spills, and gold bullion
8
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
thefts and losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks).
Although we have attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward -looking statements, there may be other f actors that cause
actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could differ materially
from those antici pated in such statements. Accordingly, readers should not place undue reliance on forward -
looking information.