Jaguar Mining Announces Appointment of Chief Executive Officer and Changes to the Board of Directors __________________________________________________________________________________________
NEWS RELEASE
August 6, 2019 TSX: JAG
FOR IMMEDIATE RELEASE
Jaguar Mining Announces Appointment of Chief Executive Officer and
Changes to the Board of Directors
__________________________________________________________________________________________
Toronto, August 6, 2019 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) is pleased to announce
the appointment of Mr. Vernon Baker as Chief Executive Officer. Ben Guenther, interim CEO will step down,
effective immediately but will remain on Jaguar Mining’s Board of Directors (the “Board”).
“On behalf of the Jaguar Mining’s Board of Directors, I am very pleased to welcome Vernon Baker as the new
CEO,” said Thomas Weng, Chairman, Jaguar Mining. “Mr. Baker is an experienced executive with extensive
underground mining experience and a diverse operational background. We are excited by his commitment to
continue executing Jaguar’s key strategic priorities and turnaround strategy.”
Mr. Baker stated: "I am thrilled to be leading Jaguar Mining and working closely with the Board and all of our
employees to continue the progress made to date at Turmalina and Pilar, and to be focused on achieving the
Company’s strategic goals to increase gold production from their high-quality gold assets in Brazil."
The appointment of Mr. Baker as CEO is the conclusion of Jaguar’s review of strategic alternatives previously
announced by the Company. The Board believes that the execution of the Company’s business plan under Mr.
Baker’s leadership will be the best path forward for the Company to maximize value for shareholders.
Mr. Weng stated “The Board would like to thank Ben Guenther for his service as interim CEO”.
The Company also announced the acceptance of Mr. Richard Falconer’s resignation as an independent director
and the appointment of Rodney Lamond to the Board. Mr. Lamond previously served as Jaguar Mining Chief
Executive Officer from December 2015 to August 2018. On behalf of the Board, “I would like to thank Mr. Falconer
for his many contributions to Jaguar during his tenure and wish him success on his future endeavors. I would also
like to welcome Mr. Lamond back to the Jaguar family and look forward to working with him in executing Jaguar’s
turnaround.” The appointments are subject to regulatory approval.
Vernon Baker Bio
Mr. Vernon Baker will be appointed as the new Chief Executive Officer effective August 6, 2019. Mr. Baker brings
over 35 years of mining industry experience. He has extensive management and operations expertise at globally
focused mid-tier and senior mining companies. Most recently, he was General Manager at Goldcorp’s Cerro Negro
Mine in Argentina, overseeing 3,000 tonnes per day of high-grade production and implementing programs to reduce
costs, grow production and development, and leading strong safety improvement to achieve an AIFR of 0.28 in
2017. Previously, Mr. Baker held management and senior leadership roles with various mining companies including
President at Duluth Metals Limited, Vice President of Operations at FNX Mining, General Manager at Barrick
Goldstrike Mines Inc., and General Manager of Hemlo Operations, a Joint Venture of Teck Cominco and Barrick
Gold.
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 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 and the Roça
Grande Mine which has been on care and maintenance since April 2018. Additional information is available on the
Company's website at www.jaguarmining.com.
2
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
For further information please contact:
Ben Guenther
Interim Chief Executive Officer
Jaguar Mining Inc.
416-847-1854
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 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,
expected sales, production statistics, ore grades, tonnes milled, recovery rates, cash operating costs,
definition/delineation drilling, the timing and amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of projects and new deposits, success of exploration,
development and mining activities, currency fluctuations, capital requirements, project studies, mine life extensions,
restarting suspended or disrupted operations, continuous improvement initiatives, and resolution of pending
litigation. The Company has made numerous assumptions with respect to forward-looking information contained
herein, including, among other things, assumptions about the estimated timeline for the development of 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; 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 an 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 uncertainties, including among others: the risk of Jaguar not
meeting the forecast plans regarding its operations and financial performance; uncertainties with respect to the
price of gold, labour disruptions, mechanical failures, increase in costs, environmental compliance 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 capital 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 results 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 environmental hazards, tailings dam failures, industrial accidents
and workplace safety problems, unusual or unexpected geological formations, pressures, cave-ins, flooding,
chemical spills, procurement fraud and gold bullion thefts and losses (and the risk of inadequate insurance, or the
inability to obtain insurance, to cover these risks). Accordingly, readers should not place undue reliance on forward-
looking information.
For additional information with respect to these and other factors and assumptions underlying the forward-looking
information made in this news release, see the Company's most recent Annual Information Form and
Management's Discussion and Analysis, as well as other public disclosure documents that can be accessed under
the issuer profile of "Jaguar Mining Inc." on SEDAR at www.sedar.com. The forward-looking information set forth
herein reflects the Company's reasonable expectations as at the date of this news release and is subject to change
after such date. The Company disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, other than as required by law. The
forward-looking information contained in this news release is expressly qualified by this cautionary statement.