Jaguar Mining Expands Resource Potential at Turmalina and Pilar Mines, Brazil In-Mine High-Grade Intercepts Include Turmalina: Orebody C-SE, 9.22g/ Au over 15.3m (ETW 4.94m) Orebody C-Central 5.98g/t Au over 12.1m (ETW 11.5m)
September 10, 2020 NEWS RELEASE
FOR IMMEDIATE RELEASE TSX: JAG
Jaguar Mining Expands Resource Potential
at Turmalina and Pilar Mines, Brazil
In-Mine High-Grade Intercepts Include
Turmalina: Orebody C-SE, 9.22g/ Au over 15.3m (ETW 4.94m)
Orebody C-Central 5.98g/t Au over 12.1m (ETW 11.5m)
Pilar: Orebody BF2, 29.07 g/t Au over 4.00m (ETW 3.50m),
Orebody SW 12.39 g/t Au over 8.4m (ETW 7.68m)
Definitions: ETW – estimated true width g/t Au – grams per tonne gold m – metres
Toronto, Canada, September 10, 2020 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) today
announced drill results from underground diamond drill hole programs conducted at Turmalina Gold Mine
(“Turmalina”) and at Pilar Gold Mine (“Pilar”) both located in Minas Gerais, Brazil. Drilling continues to confirm
expanding resource potential with high-grade intersections from both mines, highlighting significant extensions
at depth and laterally across the vertical extents of the mines. These drill campaigns were completed subsequent
to the most recent Mineral Resources and Mineral Reserves (“MRMR”) update at Turmalina (as at December
31, 2019 – see press-release dated 20, April, 2020) and at Pilar (as at May 30, 2020 – see press-release dated
August 18, 2020).
At Turmalina, drilling has focused on targeting the down-plunge and lateral continuity of the structure hosting
the C-SE and C-Central ore shoots at shallow levels while drilling at Pilar drilling has focused on evaluation of
the lateral extensions of the banded iron formation (“BIF”) hosted mineralization (SW-Sao Jorge-BIF, BIF2, BA,
LFW, LPA and BA Orezones) close to underground development throughout the entire vertical extent of the
mine.
Turmalina Highlights
• Orebody C-Central drilling focused on tracing the structurally controlled high-grade mineralization
discovered in March 2019 d own plunge and beyond the current mineral resources and mineral reserves
limits, at shallow levels between level 3 and level 6;
• Drilling and geological mapping on the Orebody C -Central structure has delineated four higher-grade
mineralized zones within the overall host rock package. These zones are separated by lower grade or waste
intervals, which, are currently being assessed for geotechnical characteristics. (See figures 1 and 2);
• Orebody C-Central high-grade continuity has been demonstrated by recent drilling with a series of eight
intercepts with grade X thickness (GT) intervals of >25, Intercepts include: (See figures 1 and 2, table 1 and
appendix 1)
o 5.98 g/t Au over 12.1m (ETW 11.5m), 39.85 g/t Au over 1.6m (ETW 1.54m), and 10.55 g/t Au over
4.25m (ETW 4.12m).
• Drilling on Orebody C -SE focused on improving the definition of the high -grade plunging mineralisation
currently being mined on level 5 to below levels 8 where access development recently intersected th is
orebody. Intercepts include: (See figure 3 and table 1.)
o 9.22 g/t Au over 15.29m (ETW 4.94m) and 10.36 g/t Au over 2.76m (ETW 2.55m).
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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
● Ongoing in-mine drilling remains focused on defining near surface and down plunge depth extensions to the
structures hosting the A, B and C mineralization targeting additional mineral resource inventory and ounce
per vertical meter profile.
Pilar Highlights
● Drilling remains focused on defining extensions to the various structurally controlled, BIF hosted
mineralization at shallow levels in the mine and down plunge beyond the current mineral resources and
mineral reserves limits;
● Recent drilling intercepted high-grade intervals with grade x thickness (GT) va lues > 25 in some 20 holes
targeting the SW, BF, BF2, BA, LPA, and LFW structures, below are selected best intercepts: See figures
4 and 5, table 2 and appendix 2);
o SW Orebody: 12.39 g/t Au over 8.40m (ETW 7.68m) and 7.05 g/t Au over 10.95m (ETW 9.03m);
o BF2 Orebody: 29.07 g/t Au over 4.00m (ETW 3.5m);
o BF Orebody: 6.88 g/t Au over 33.35m (ETW 4.12m);
o BA Orebody: 7.42 g/t Au over 9.00m (ETW 6.94m);
o Orebody LPA: 10.66 g/t Au over 6.00m (ETW 3.40m); and
o Orebody LFW: 5.57 g/t Au over 8.50m (ETW 7.60m).
● Ongoing in-mine drilling remains focused on defining near surface , lateral and down plunge depth
extensions to the structures hosting the various mineralized zones targeting additional mineral resource
inventory and ounce per vertical meter profile.
Vernon Baker, Chief Executive Officer of Jaguar Mining commented, “The significant results released today from
on-going in-mine drilling at our operations continue to support sustained MRMR growth beyond recently reported
limits. Of particular interest are results from the high-grade, wide intersections from Pilar’s shallow level SW
Orebody. This Orebody is becoming a significant contributor to that mine´s MRMR inventory and adds
operational flexibility due to its shallow position and closeness to existing infrastructure in the mine. Similarly,
at the Orebody C structure at Turmalina, increased high-grade intercepts and ounce per vertical meter at shallow
depths continue to enhance sustainable operational flexibility. We are committed to invest ing in growth
exploration at our core assets as results to date continue to support our belief that both Pilar and Turmalina are
important long-life assets for Jaguar’s future.”
Jon Hill, Expert Advisor, Geology and Exploration, to the Jaguar Mining Management Committee commented:
“These drilling results again highlight the long -term upside endowment potential both within and contiguous to
our main operating assets . In-Mine Exploration continues to deliver very positive results which are not only
important to Jaguar's future but will underpin plans to ramp up exploration over the coming months to test the
next generation of growth exploration targets within our strategic tenement portfolio.”
3
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 1
Figure 1 shows the relative loca tion of diamond drill holes reported since the last MRMR report at Turmalina
Mine (December 31, 2019) note focus on C-Central at shallow levels.
Figure 2
Figure 2 shows the location of diamond drill holes reported since the last MRMR report at Turmalina Mine over
the Orebody C-Central Area (December 31, 2019). The four images show intersections separated by zone within
the C-Structure.
4
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 3
Figure 3 shows the location of diamond drill holes reported since the last MRMR report at Turmalina Mine
(December 31, 2019) over the Orebody C-SE Area
Figure 4
Figure 4 shows the relative location of diamond drill holes reported since the last MRMR re port at Pilar Mine
(April 30, 2020).
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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 5
Figure 5 shows the location of diamond drill holes reported since the last MRMR report at Pilar Mine (April 30,
2020).
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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. Drill Results and Intercepts –Turmalina with Grade X Thickness (GT) > 25
Summary of Significant Intersections, Drilling Program
Jaguar Mining Inc. – Turmalina Mine
Hole ID From
(m)
To
(m)
Down Hole
Interval (m)
Estimated
True Width (m)
Gold Grade
(g/t Au)
GT
(ETW)
Date
(mm/dd/yyyy) Orebody
FTS1840 92.74 95.50 2.76 2.55 10.36 26.42 April 22, 2020 CSE
FTS1849 175.40 190.69 15.29 4.94 9.22 45.55 May 26, 2020 CSE
FTS1851 161.30 168.36 7.06 4.04 9.21 37.21 June 1, 2020 C - Central
FTS1855
45.75 54.50 8.75 6.18 6.08 37.57
June 24, 2020
C - Central
78.80 80.40 1.60 1.54 39.85 61.37 C - Central
FTS1856 82.85 87.10 4.25 4.12 10.55 43.47 June 29, 2020 C - Central
FTS1857 84.45 90.85 6.40 5.95 5.38 32.01 July 3, 2020 C - Central
FTS1858 33.75 44.40 10.65 8.72 5.53 48.22 July 3, 2020 C - Central
FTS1859
43.40 54.05 10.65 8.39 3.95 33.14
July 7, 2020
C - Central
61.85 66.80 4.95 3.50 7.82 27.37 C - Central
FTS1865 27.25 39.35 12.10 11.50 5.98 68.77 August 3, 2020 C - Central
FTS1866 48.65 51.75 3.10 3.01 14.48 43.58 August 3, 2020 C - Central
Table 2. Drill Results and Intercepts – Pilar with Grade x Thickness (GT) > 25
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
(ETW)
Date
(mm/dd/yyyy) Orebody
PPL661 174.00 178.00 4.00 3.50 29.07 101.75 5/4/2020 BFII
PPL579 206.48 218.40 11.92 4.26 7.39 31.48 5/15/2020 BF
PPL669 76.80 85.90 9.10 8.95 3.77 33.74 7/7/2020 SW
PPL665 35.55 40.65 5.10 3.00 11.26 33.78 5/15/2020 SW
FSB887 24.40 29.35 4.95 4.30 9.42 40.51 5/15/2020 LPA
PPL644 32.70 41.10 8.40 7.68 12.39 95.16 5/15/2020 SW
PPL664 231.00 237.00 6.00 3.40 10.66 36.24 5/15/2020 LPA
PPL687
56.90 65.00 8.10 6.20 5.69 35.28
5/22/2020
BFII Lente
208.00 216.50 8.50 7.60 5.57 42.33 LFW
PPL689 104.95 115.90 10.95 10.10 7.05 71.21 6/1/2020 SW
PPL629 13.20 19.00 5.80 5.44 7.42 40.36 6/1/2020 BA
PPL672A 47.00 49.35 2.35 2.10 12.51 26.27 6/12/2020 BFII
PPL581 46.00 55.00 9.00 6.94 4.74 32.90 6/22/2020 BA
PPL728
4.00 7.20 3.20 2.20 27.98 61.56
7/11/2020
SW
22.17 32.96 10.79 5.50 8.45 46.48 SW
PPL719 62.30 75.90 13.60 9.00 3.60 32.40 7/11/2020 SW
PPL703 37.10 70.45 33.35 9.03 6.88 62.13 7/11/2020 BF
7
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
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
(ETW)
Date
(mm/dd/yyyy) Orebody
PPL705 28.40 34.40 6.00 1.81 15.38 27.84 7/11/2020 BFII
PPL701 44.50 56.65 12.15 5.41 5.51 29.81 7/11/2020 BFII
PPL726 231.00 241.00 10.00 4.20 7.33 30.79 8/15/2020 LPA
Please see Table 3, Figure 3 and Appendix 2 for more details.
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 non-magnetic equipment (SPT Stockholm Precision Tools with GyroMaster™ Solid State North Seeker).
Mean grades are calculated using a variable lower grade cut-off (generally 0.5 g/t Au). No upper gold grade cut
has been applied to the data. However, the requirement for assay top cutting will be assessed during f uture
resource work.
Half of the sawed sample is forwarded to the analytical laboratory for analysis while the remaining half of the
core is stored in a secure location. The drill core samples are transported in securely sealed bags and sent for
physical preparation to the independent ALS Brasil (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 labo ratories are
accredited to ISO/IEC 17025:2005 for specific analytical procedures.
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 Iron
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 in the Iron Quadrangle with just over 25,000 hectares.
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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 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 Gold Mine Complex, which combined produce approximately 95,000
ounces of gold annually. The Company also owns the Paciência Gold Mine Complex, which has been on care
and maintenance since 2012. Additional information is available on the Company's website at
www.jaguarmining.com.
For further information please contact:
Vernon Baker
President & 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 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. 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," "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, expected future mineral resources, potential mineral pro duction 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
Turmalina 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 requireme nts, 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 estimated timeline and for the
development of the drill pr ogram 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; ongo ing
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, ta ilings 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 uncertainties, 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
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 cap ital 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 without limitation environmental hazards, tailings dam failures, industrial acc idents and
workplace safety problems, unusual or unexpected geological formations, pressures, cave -ins, flooding, chemical spills, and gold bullion
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 factors 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
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.