Jaguar Mining - Drilling Along the Paciencia Trend Exploration Targets Connects Areas of Known Mineralization, Potentially Defining a Broader Gold District, Minas Gerais, Brazil
1
JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Jaguar Mining - Drilling Along the Paciencia Trend Exploration Targets
Connects Areas of Known Mineralization, Potentially Defining a Broader
Gold District, Minas Gerais, Brazil
- Multiple mineralized targets could illustrate a much more extensive gold trend than previously
defined
__________________________________________________________________________________________
TORONTO, Ontario – July 08, 2026 – Jaguar Mining Inc. ("Jaguar" or the "Company") is pleased to announce
positive results from the first phase of diamond drilling along the corridor that runs from the Chamé exploration
target through the Santa Isabel/Marzagao Mine targets and north to the Bahú target area. These drill results
confirm significant mineral potential and reveal a large mineral system connecting Chamé, Santa Isabel ,
Marzagão, and Bahú (from south to north). This defines a new district with over 15 km strike length in the
Paciencia Gold District. (See Figures 1 & 2)
Highlights:
• 3,764 metres across 17 drill holes
• Eight holes totaling 2,245 metres at the Chamé target
• Nine holes totaling 1,518 metres at the Santa Isabel/ Marzagão target
Key Intercepts:
• Chamé Structure:
o FCM003: 32.21m @ 0.37 g/t Au (including 6.71m @ 1.15 g/t Au)
o FCM004: 34.30m @ 0.39 g/t Au (including 1.00m @ 2.37 g/t Au)
• Santa Isabel - Marzagão Structure:
o FCM008: 7.85m @ 2.03 g/t Au (including 2.00m @ 3.17 g/t Au)
o FSIEXP009: 2.11m @ 3.10 g/t Au (including 1.11m @ 4.62 g/t Au)
All drilling results are detailed in Tables 1 & 2 below.
"The current drilling campaign has successfully demonstrated the physical continuity of the mineralized structure
from the Santa Isabel mine toward the Southeast,” commented Armando José Massucatto, General Manager of
Exploration. “We have also identified a parallel structure in the hanging wall at the Chamé target. The association
of these structures confirms the existence of a high-potential district extending over a 15-kilometer trend."
“The strategic objective of the 5-year exploration plan Jaguar announced in late 2025 is to fully and systematically
explore the high-priority targets among the +400 mineralized occurrences within the 46,000 hectares of mineral
tenements held by Jaguar Mining in the Iron Quadrangle,” commented Jaguar Mining CEO Luis Albano Tondo.
“The goal of this program is to identify mineral resources which can be developed into mineral reserves, ultimately
increasing the total gold production for the Company.”
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Drilling at the Chamé target intercepted low-grade structures within the hanging wall, while the footwall continues
to host the higher-grade mineralization characteristic of the Santa Isabel/Marzagão system. These results allow
the Company to track the southeast continuity of the mine’s mineralized structure over 1 kilometer beyond current
Santa Isabel underground mine workings.
The Paciencia Trend is part of the broader São Vicente lineament regional trend on which sits the world class
Morro Velho gold mine (now closed) which produced over 10 million ounces of gold during its years of operation
by Anglo Gold Ashanti (1834 to 2004).
Figure 1 – General location map for the exploration targets along this 40km São Vicente lineament, illustrating
the southern extension containing Jaguar Mining high priority targets.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 2 – Focus on the Chamé to Bahú corridor of high priority exploration targets
Figure 3: Longitudinal section looking Northeast showing key results from the drilling campaign. In green, the
modeled structure based on recent results correlates with the mineralized structure hosting the Santa
Isabel/Mazargão mine (visible in brown on the right portion of the figure, footwall). The green structure represents
the hanging wall containing the lower-grade mineralization at Chamé.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
When comparing these results with historical data from the Bahú target (refer to the technical report available on
SEDAR+ entitled “NI 43-101 Technical Report, Caeté Mining Complex, Minas Gerais, Brazil”, with an effective
date of December 31, 2025), there is a clear similarity in gold mineralization structures. The presence of multiple
sub-parallel mineralized bodies suggests a robust system of stacked structures.
Figure 4: Type section of the Bahú target showing low-grade halos with high-grade cores (as indicated in the
composites). Note the significant down-dip continuity of mineralization.
The dual-structure nature of the Chamé target is attributed to the São Vicente lineament, which functions as an
anastomosing shear zone with multiple branching splays. While surface continuity is evidenced by colonial -era
(1700s) workings, Jaguar’s systematic mapping and sampling is identifying new structures that indicate high
potential for additional medium-to-low grade gold mineralization which could lead to open pit potential.
The confirmed continuity of these structures through drilling indicates a structurally controlled mineralized system
active along the 15 kilometers of mapped trends within Jaguar Mining’s tenements. This positions the entire area
as a premier exploration district with significant Tier 1 district-scale gold potential.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 5: Left: Ancient colonial-era excavations (highlighted in white) aligned over 15 km within Jaguar’s
tenements. Right: Interpretation of structural lineaments via satellite imagery (green dashed lines), highlighting
multiple opportunities for mineralized zones.
Table 1: Drill intercepts
LOCAL DHID From To
DownHole
Interval
(m)
ETW
(m)
Gold Grade
(g/t Au) Composite Type
Chamé FCM001 46.65 62.00 15.35 15.35 0.44 15.35m @ 0.44 g/t Composite
Chamé FCM001 51.38 52.47 1.09 1.09 3.00 1.09m @ 3 g/t incl.
Chamé FCM001 60.57 62.00 1.43 1.43 1.86 1.43m @ 1.86 g/t incl.
Chamé FCM002 128.85 132.94 4.09 3.39 0.33 3.39m @ 0.33 g/t Composite
Chamé FCM002 128.85 130.00 1.15 0.95 0.64 0.95m @ 0.64 g/t incl.
Chamé FCM003 44.29 76.50 32.21 32.21 0.37 32.21m @ 0.37 g/t Composite
Chamé FCM003 44.29 51.00 6.71 6.71 1.15 6.71m @ 1.15 g/t incl.
Chamé FCM003 61.44 63.72 2.28 2.28 0.41 2.28m @ 0.41 g/t incl.
Chamé FCM003 73.37 76.50 3.13 3.13 0.62 3.13m @ 0.62 g/t incl.
Chamé FCM003 246.60 252.50 5.90 5.90 2.16 5.9m @ 2.16 g/t Composite
Chamé FCM003 248.50 250.00 1.50 1.50 8.10 1.5m @ 8.1 g/t incl.
Chamé FCM004 66.44 100.74 34.30 28.19 0.39 28.19m @ 0.39 g/t Composite
Chamé FCM004 72.00 73.00 1.00 0.82 2.37 0.82m @ 2.37 g/t incl.
Chamé FCM004 86.50 100.74 14.24 11.76 0.60 11.76m @ 0.6 g/t Composite
Chamé FCM004 86.50 90.70 4.20 3.47 1.00 3.47m @ 1 g/t incl.
Chamé FCM004 93.66 97.00 3.34 2.76 0.73 2.76m @ 0.73 g/t incl.
Chamé FCM005 94.47 96.00 1.53 1.53 0.84 1.53m @ 0.84 g/t Composite
Chamé FCM005 198.84 199.56 0.72 0.72 0.70 0.72m @ 0.7 g/t Composite
Chamé FCM005 266.81 273.00 6.19 6.19 0.62 6.19m @ 0.62 g/t Composite
Chamé FCM005 267.39 269.57 2.18 2.18 1.20 2.18m @ 1.2 g/t incl.
Chamé FCM006 122.11 125.00 2.89 2.76 0.23 2.76m @ 0.23 g/t Composite
Chamé FCM006 122.11 122.64 0.53 0.51 0.40 0.51m @ 0.4 g/t incl.
Chamé FCM007 83.10 86.40 3.30 3.30 0.42 3.3m @ 0.42 g/t Composite
6
JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Chamé FCM007 83.10 84.50 1.40 1.40 0.68 1.4m @ 0.68 g/t incl.
Chamé FCM008 148.00 155.35 7.85 7.85 2.03 7.85m @ 2.03 g/t Composite
Chamé FCM008 148.00 150.00 2.00 2.00 3.17 2m @ 3.17 g/t incl.
Chamé FCM008 152.50 155.35 3.35 3.35 2.60 3.35m @ 2.6 g/t incl.
Santa Isabel FSIEXP001 72.40 77.96 5.56 4.36 1.65 4.36m @ 1.65 g/t Composite
Santa Isabel FSIEXP001 72.40 74.36 1.96 1.54 3.21 1.54m @ 3.21 g/t incl.
Santa Isabel FSIEXP001 76.90 77.96 1.06 0.83 1.97 0.83m @ 1.97 g/t incl.
Santa Isabel FSIEXP001 121.30 125.14 3.84 3.15 0.89 3.15m @ 0.89 g/t Composite
Santa Isabel FSIEXP001 127.90 134.97 7.07 5.80 3.43 5.8m @ 3.43 g/t Composite
Santa Isabel FSIEXP001 127.90 133.24 5.34 4.38 4.32 4.38m @ 4.32 g/t incl.
Santa Isabel FSIEXP002 93.90 94.90 1.00 0.73 1.74 0.73m @ 1.74 g/t Composite
Santa Isabel FSIEXP002 139.00 140.78 1.78 1.47 0.60 1.47m @ 0.6 g/t Composite
Santa Isabel FSIEXP002 148.00 151.92 3.92 3.24 0.90 3.24m @ 0.9 g/t Composite
Santa Isabel FSIEXP002 149.00 149.51 0.51 0.42 2.16 0.42m @ 2.16 g/t incl.
Santa Isabel FSIEXP003A 155.50 159.00 3.50 1.35 1.92 1.35m @ 1.92 g/t Composite
Santa Isabel FSIEXP003A 155.50 156.50 1.00 0.39 4.11 0.39m @ 4.11 g/t incl.
Santa Isabel FSIEXP003A 176.00 181.00 5.00 1.94 2.18 1.94m @ 2.18 g/t Composite
Santa Isabel FSIEXP003A 177.00 179.35 2.35 0.91 3.12 0.91m @ 3.12 g/t incl.
Santa Isabel FSIEXP003A 227.50 233.50 6.00 2.32 2.43 2.32m @ 2.43 g/t Composite
Santa Isabel FSIEXP003A 227.50 230.00 2.50 0.97 2.60 0.97m @ 2.6 g/t incl.
Santa Isabel FSIEXP003A 232.50 233.50 1.00 0.39 5.05 0.39m @ 5.05 g/t incl.
Santa Isabel FSIEXP004 78.16 84.14 5.98 5.78 0.79 5.78m @ 0.79 g/t Composite
Santa Isabel FSIEXP004 78.16 80.00 1.84 1.78 1.74 1.78m @ 1.74 g/t incl.
Santa Isabel FSIEXP005 71.00 76.92 5.92 5.42 1.37 5.42m @ 1.37 g/t Composite
Santa Isabel FSIEXP005 73.30 75.42 2.12 1.94 3.66 1.94m @ 3.66 g/t incl.
Santa Isabel FSIEXP005 88.50 91.00 2.50 2.29 0.22 2.29m @ 0.22 g/t Composite
Santa Isabel FSIEXP005 99.88 102.29 2.41 2.21 0.33 2.21m @ 0.33 g/t Composite
Santa Isabel FSIEXP006 108.26 112.59 4.33 4.33 1.65 4.33m @ 1.65 g/t Composite
Santa Isabel FSIEXP006 108.26 109.88 1.62 1.62 3.05 1.62m @ 3.05 g/t incl.
Santa Isabel FSIEXP006 121.00 125.63 4.63 4.63 0.90 4.63m @ 0.9 g/t Composite
Santa Isabel FSIEXP006 122.99 124.79 1.80 1.80 1.69 1.8m @ 1.69 g/t incl.
Santa Isabel FSIEXP007 102.50 103.70 1.20 1.02 1.60 1.02m @ 1.6 g/t Composite
Santa Isabel FSIEXP007 122.62 130.50 7.88 6.82 0.57 6.82m @ 0.57 g/t Composite
Santa Isabel FSIEXP008 104.00 105.00 1.00 0.82 1.39 0.82m @ 1.39 g/t Composite
Santa Isabel FSIEXP008 127.50 135.55 8.05 6.64 0.50 6.64m @ 0.5 g/t Composite
Santa Isabel FSIEXP009 131.89 134.00 2.11 2.11 3.10 2.11m @ 3.1 g/t Composite
Santa Isabel FSIEXP009 131.89 133.00 1.11 1.11 4.62 1.11m @ 4.62 g/t incl.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Table 2: Drillhole collars
HOLEID EAST NORTH ELEV TOTAL
DEPTH (m) AZ DIP
FCM001 638916.45 7764451.95 1004.79 350.45 -49.87 218.7
FCM002 638917.08 7764452.77 1004.76 241.85 -85.68 216.19
FCM003 638811.44 7764489.81 1018.78 350.35 -50.51 219.2
FCM004 638812.14 7764490.78 1018.72 239 -85.49 209.43
FCM005 639019.64 7764423.78 998.01 350.2 -45.54 219.78
FCM006 638512.25 7764414.51 1080.76 221.15 -45.23 246.52
FCM007 638878.16 7764507.25 1004.19 307.75 -49.35 219.75
FCM008 638437.64 7764492.84 1102.27 184.5 -54.74 218.91
FSIEXP001 636754.13 7765719.02 974.98 164 11.36 31
FSIEXP002 636754.01 7765719.03 974.98 175.1 9.54 14.56
FSIEXP003A 636753.43 7765719.54 974.23 234.08 -3.55 13
FSIEXP004 637205.07 7765588.73 1010.64 117.65 -45.59 240.01
FSIEXP005 637205.07 7765588.73 1010.00 105.4 -45.21 257.15
FSIEXP006 637368.26 7765487.41 1051.91 139.05 -52.03 224.73
FSIEXP007 637368.26 7765487.41 1051.91 152.05 -80.34 268.85
FSIEXP008 637500.41 7765236.45 1101.33 160.25 -65.2 285.35
FSIEXP009 637637.66 7765108.58 1115.59 271.25 -59.99 216.81
Mineral Resource at Paciencia
Paciencia, which includes the Santa Isabel-Marzagão structure, has current underground Inferred Mineral
Resources of 189,000 ounces of gold across 1,423,000 tonnes at a weighted average grade of 4.14 g/t Au.
Jaguar is currently preparing the Santa Isabel mine for potential reopening by the end of 2026 with dewatering,
underground rehabilitation, underground drift development, and an underground diamond drilling program to be
followed by a formal technical report.
Sampling and QA/QC
Drill core samples were collected under the supervision of Jaguar Mining’s geological staff. Samples were
submitted to SGS-Geosol Laboratories Ltd and ALS Global Laboratories, Vespasiano, Minas Gerais, Brazil, both
independent, accredited laboratories, for analysis. Gold assays were performed using FAA525, Au-AA26 and ME-
MS61 analytical process – fire assay with atomic absorption finish. A comprehensive Quality Assurance/Quality
Control (QA/QC) program involving the insertion of certified reference material s, 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.
About the Iron Quadrangle (Quadrilátero Ferrífero)
The Paciencia Gold District (which include the targets mentioned in this press release) is located in the Iron
Quadrangle, a world-class, prolific greenstone belt in the state of Minas Gerais, Brazil. This region is renowned
for its significant iron and gold deposits, hosted within Archean and Paleopro terozoic stratigraphic sequences.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Jaguar’s strategic land package in this district continues to offer substantial exploration upside.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by
Armando José Massucatto, Geologist, PhD, General Manager of Exploration for Jaguar Mining Inc., and a
"Qualified Person" as defined by National Instrument 43-101.
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 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 Caeté
complex (Pilar and Roça Grande mines, and Caeté plant). The Roça Grande mine has been on temporary care
and maintenance since April 2019. The Company also owns the Paciência complex (Santa Isabel mine and
plant), which had been on care and maintenance since 2012 and is under review to restart in 2026. Additional
information is available on the Company's website at www.jaguarmining.com.
For further information please contact:
Luis Albano Tondo
Chief Executive Officer
Jaguar Mining Inc.
Naomi Nemeth
Vice President Investor Relations
Jaguar Mining Inc.
+1 647 882 4257
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
management's expectations and plans relating to the future. All of the forward-looking information made in this news release is
qualified by the cautionary statements below and those made in our other filings with the securities regulators in Canada.
Forward-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," "anticipates," "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. This news release contains forward-looking information regarding, among other
things, drill results from the Paciencia Gold District targets (Santa Isabel to Chamé), exploration plan and strategy, potential
mineralization, exploration potential, high-priority exploration targets, potential mineral resources and mineral reserves, and
increasing gold production. The Company has made numerous assumptions with respect to forward-looking information
contained herein, including, among other things, the possibility that future exploration (including drilling) or development
results will not be consistent with the Company's expectations, the estimated timeline for the exploration and development of
the Company’s exploration targets; 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