Jaguar Mining Inc. Announces Partial Lifting of Satinoco Pile Interdiction, a Critical Step Towards Resumption of the Mtl Complex _____________________________________________________________________________________ _____
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
JAGUAR MINING INC. ANNOUNCES PARTIAL LIFTING OF SATINOCO PILE INTERDICTION, A
CRITICAL STEP TOWARDS RESUMPTION OF THE MTL COMPLEX
_____________________________________________________________________________________ _____
TORONTO, ON, October 29, 2025 – Jaguar Mining Inc. (TSX: JAG) ("Jaguar" or the "Company") is pleased to
announce a significant milestone toward the safe and efficient restart of operations at its MTL Complex, which
includes the Turmalina Mine and processing plant. The Company has received a Partial Suspension of Interdiction
Order (Termo de Suspensão de Interdição ) from the Brazilian Ministry of Labour and Employment in the State of
Minas Gerais. This order formally lifts restrictions on specific sections of the Satinoco pile at the Turmalina Mine,
representing a pivotal advancement in Jaguar's comprehensive plan to resume full operations at the MTL
Complex.
The partial lifting follows a decision by the Regional Labour Court affirming that Labor Auditors may lift interdictions
when safety conditions are met, without requiring prior external authorization. The Company has worked diligently
with regulatory authorities to ensure all necessary safety measures and operational protocols are in place for the
areas now released.
Key Terms of the Partial Suspension:
The order applies to two distinct regions of the Satinoco pile:
• One near the Paste Fill plant and effluent treatment facilities; and
• Another near the area housing maintenance workshops and a building designated for offices.
It is important to emphasize that this is a partial suspension . Restrictions remain in effect for other areas not
explicitly covered by this order. The Company continues to work proactively with authorities to address all remaining
requirements for a full resumption of activities at Turmalina.
Strategic Alignment and Operational Impact:
This development is a critical step in Jaguar's broader strategy to safely and systematically resolve all issues related
to the Satinoco incident and to advance toward the complete restart of the MTL Complex. Gaining access to these
specific areas allows the Company to advance essential preparatory work, including maintenance,
infrastructure assessment s, and further safety enhancements , which are prerequisite s to a phased restart.
This progress significantly de-risks the overall restart timeline and reinforces Jaguar's commitment to operational
integrity, safety, and regulatory compliance.
Luis Albano Tondo, Chief Executive Officer of Jaguar, commented: "The receipt of this partial suspension
order for the Satinoco waste/tailings pile represents a highly encouraging and concrete step forward in our plan to
resume operations at the Turmalina Mine and broader MTL Complex. While this is a partial lifting, it provides critical
access to key operational areas, including the Paste Fill plant, allowing us to accelerate preparations for a safe
and full restart. We remain fully focused on fulfilling all outstanding requirements and are confident that this progress
further solidifies our path to bringing the Turmalina Mine back into production, ultimately delivering enhanced value
to our shareholders."
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
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 over 46,000 hectares.
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.
+55 31-99959-6337
Marina Freitas
Interim Chief Financial Officer
+55 31-98463-5344
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," "est imate,"
"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 considere d to
be or includ e forward -looking information. This news release contains forward -looking information regarding, among other
things, the duration of the temporary suspension of the Company’s MTL complex in the wake of the slump at its Satinoco dry
tailings pile, the cost and timing of resuming operations at the MTL complex, the Company’s ability to advance and complete its
plan to resume operations at the MTL complex in accordance with (and as contemplated by) the above, the future stability of
the tailings pile in question and safety of the Turmalina mine, the amount, timing and payment terms of any fines imposed on
the Company, as well as any costs and damages arising from any civil or criminal lawsuits, resulting from the tailings pile slump,
management's expectations regarding potential outcomes of any ongoing legal matters relating to the tailings pile slump,
management’s expectations regarding the Company’s response to the tailings pile slump and the Company’s recovery and
remediation efforts at the MTL complex, any information and statements related to future operations at any of the Company’s
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
properties, including Pilar and Turmalina, any information and statements related to expected growth, 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 produc tion, 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 th e future and long -term stability of the Satinoco tailings pile; there
will be no unforeseen adverse weather events or other external factors that could delay the Company’s recovery or remediation
efforts; the current assumptions regarding the extent of the damage and timeline for repairs at the MTL complex remain accurate
and will not require significant revision as further assessments are completed; the estimated timeline for recommencing
operations at the MTL complex; the estimated timeline for the development of the Company’s 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 expec tations 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 uncertainties, including among others: the risk of Jaguar not
meeting the timelines and achieving the milestones outlined above regarding the Company’s current plan and process for
resuming operations at the MTL complex, 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 enviro nmental 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, i f
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.sedarplus.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 forwar d-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.