Jaguar Mining Intercepts High Grade Gold Mineralization Including Visible Gold at Pilar; Turmalina Growth Exploration Program Achieves First 20% Completion Milestone
NEWS RELEASE
September 20, 2017 TSX: JAG
FOR IMMEDIATE RELEASE
Jaguar Mining Intercepts High Grade Gold Mineralization Including Visible Gold at Pilar;
Turmalina Growth Exploration Program Achieves First 20% Completion Milestone
Toronto, Canada, September 20, 2017 - Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) today
announced further positive results from three deep drill holes (1,348 m) as part of its growth exploration program
targeting the down-plunge continuity of the principal mineralized Banded Iron Formation Orebodies at Pilar Gold
Mine (“Pilar”) in Minas Gerais, Brazil (see August 16th, 2017 press release). Drill results include high-grade gold
mineralization and in places visible go ld, not recently seen, down-plunge fr om current resources. Importantly,
these results validate the projected mineralization plunge and grade of the targeted mineralization well beyond
current mine production infr astructure. At the Turmalina Gold Mine (“Turmalina”), three diamond drill rigs are
currently focused on growth explorat ion drilling, targeting projected do wn-plunge extensions, below current
mining levels and infrastructure, on both Orebody A and Orebo dy C. To date, a total of six holes, totaling over
2,795 m, have been completed with initial results expected to be reported during Q4 2017.
Highlights and Key Intercepts – Pilar
● Deep drilling continues to intersec t high-grade visible gold mineralization, down-plunge of current resources.
Key intercepts include 15.9 g/t Au over 11.8 m (ETW 9.6 m), 25.3 g/t Au over 6.0 m (ETW 5.2 m) and 5.3
g/t Au over 49.3 m (ETW 38.7 m) and confirm the thick, high grade intercepts from earlier holes, previously
reported in August 2017, which included 10.8 g/t Au over 29.3 m (ETW 22.5 m) in hole PPL449A (refer to
Table #1, Figure #1, and Appendix #1 and #2).
● Drilling results confirm the down-pl unge continuity of the principal mineralized Banded Iron Formation
Orebodies between Levels 11 to 16, up to approximatel y 350 m vertically below the current development
and 250 m below the current Inferred Resources at Pilar (refer to Figure #1).
● The presence of visible gold in t hese thick, higher-grade intercepts confirm drilling is intersecting the major
and important controlling fold hinge structures which define the main Orebodies at Pilar.
● These down-plunge results show increasing th ickness of the high-gr ade Banded Iron Formation
mineralization within the principal Orebodies and have the potential to si gnificantly increase our Mineral
Resources and expected mine life at Pilar. The mineralization is open for continued expansion down-plunge.
● A further 3,200 m of diamond drilli ng has been approved at Pilar aimed at increa sing drilling density for
inclusion in the updated Mineral Resource and Mineral Reserve estimate expected in early 2018.
Definitions: ETW - estimated true width g/t Au - grams per tonne gold m – metres
Rod Lamond, President and Chief Exec utive Officer, Jaguar Mining commented: “These additional drill results
continue to expand the overall size of the high-grade Banded Iron Formation Orebodies at Pilar and confirm the
down-plunge continuity of high-grade mineralized structures well beyond current mine plans. The fact we are
intersecting impressive visible gold mineralization wi th increasing grade and thickness at depth supports our
view there is strong potential to add significant new resources and extend mine life at Pilar. Today’s results are
extremely encouraging and we are becoming increasingly confident in the resource upside of Pilar, which could
rival Turmalina, and the mine’s ability to have a very positive impact on the Company’s future.”
“Our commitment to continuing to invest capital in priori ty growth exploration projec ts at Pilar is paying off.
Operationally, we have made significan t strides to increase operating cash flow by reducing and controlling
costs. We are realizing tremendous value from redeploying capital made available from these initiatives. We are
focused on allocating capital only towa rds the highest-priority exploration ta rgets across all mine sites that will
create long-term sustainable value through increased near-mine Mineral Reserves and Mineral Resources. We
are also optimistic that the drill program commenced at Turmalina may deliver similar exploration success when
we report drill results before year-end.”
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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, Jaguar´s Senior Expert Advisor (Geology and Exploration) to the Management Committee commented:
“Today’s exceptional results, along with those reported last month, confirm the increased tenor of mineralization
down-plunge from current production levels. Looking ahead, we are focused on incorporating this mineralization
into Pilar’s mineral resource model and leveraging the potential benefit of high quality mineralization into the
mine plan. These high-grade intersections validate the pr edictive structural models used to project the plunge
persistent mineralization to depth, while also demonstrati ng the material upside potential of this mineralization
to extend even further down-plunge. Growth drilling at Turmalina has commenced smoothly and we look forward
to reporting positive results by year-end.”
Mine Drill Results and Intercepts – Pilar
Drill results provide the potential to add substantial new mineral resources at Pilar and include the following key
intercepts:
Banded Iron Formation Orebodies:
- Drill hole PPL445 intercepted 15.9 g/t Au over 11.8 m (ETW 9.6 m)
- Drill hole PPL445 intercepted 25.3 g/t Au over 6.0 m (ETW 5.2 m)
- Drill hole PPL 450 intercepted 5.3 g/t Au over 49.3 m (ETW 38.7 m)
o Including an intercept of 11.0 g/t Au over 5.3 m (ETW 4.1 m)
o Including an intercept of 8.3 g/t Au over 5.5 m (ETW 4.3 m)
- Drill hole PPL 450 intercepted 4.9 g/t Au over 8.2 m (ETW 7.4 m)
- Drill hole PPL 450 intercepted 5.2 g/t Au over 7.4 m (ETW 6.8 m)
o Including an intercept of 10.9 g/t Au over 2.9 m (ETW 2.2 m)
- Drill hole PPL451 intercepted 7.7 g/t Au over 20.6 m (ETW 19.8 m)
Please refer to Table #1, Figure #1 and Appendix #1 and #2 for more details.
Growth Exploration Program Update – Turmalina
● Three diamond drill rigs commenced approximately 11, 355 m of growth exploration drilling in July 2017
targeting down-plunge extensions to the high grade Orebody A at depth, while also targeting extensions of
Orebody C at shallower depths.
● Approximately 20% of the planned program has been completed to date including a total of six holes,
five holes for Orebody A and one hole for Orebody C, totaling 2,795 m.
● Drilling is being undertaken from a hanging wall developmen t drive specifically prepared and completed for
this program on Level 10-1. Drilling is intended to reac h Levels 12 to 16, up to 420 m vertically below the
current development and 300 m below the current Inferred Resources (refer to Figure #2).
● At shallower levels, drilling will target project ed down-plunge extensions to Orebody C which, once
confirmed, will allow access for mining from ex isting infrastructure between Levels 4 and 10
(see Figure #3).
● Regular updates on progress with results are expected to be released over the coming months prior to
reporting updated Mineral Reserves and Mineral Resources in March 2018.
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), 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.
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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
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 contents. All
diamond drill hole collars are accurately surveyed usi ng a Total Stations instrument and down-hole deviations
are surveyed using non-magnetic equipment with Icef ield Tools' Gyro Path® NSG equipment and 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 future
resource work.
Half of the sawed sample is forwar ded to the analytical laboratory for analys is 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 Gl obal’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 global management system that meets all requi rements of international
standards ISO/IEC 17025:2005 and ISO 9001:2015. All majo r ALS geochemistry analytical laboratories 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-gro up 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.
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 approximatel y 192,000 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:
Rodney Lamond
President & Chief Executive 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 stat ements and information are prov ided for the purpose of
providing information about management's expectations an d 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
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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
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," "be lieve," or variations of such words
and phrases or statements that certain ac tions, 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-l ooking 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 futu re mineral resources, potential mineral production
opportunities, geological and mineral exploration statisti cs, ore grades, current and expected future assay
results, and definition/delineation/expl oration drilling at the Pilar Gold Mine and the Turmalina Gold Mine in
Brazil, as well as forward-looking information regardi ng costs of production, capital expenditures, costs and
timing of the development of projects and new deposits , success of exploration, development and mining
activities, capital requirements, 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 es timated 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 Br azil 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 envir onmental legislation and regul ation, weather delays and
increased costs or production delays due to natural disa sters, power disruptions, procurement and delivery of
parts and supplies to the operations; uncertainties inher ent 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 indust ry, which, if incorrect, may cause actual results to
differ materially from those anticipated by the Company and described herein. In addi tion, there are risks and
hazards associated with the business of gold exploration, development, mining and production, including without
limitation environmental hazards, tailin gs dam failures, industrial accide nts and workplace safety problems,
unusual or unexpected geological formations, pressure s, 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 t hat could cause actual actions, events or results to
differ materially from those described in forward-look ing statements, there may be other factors that cause
actions, events or results not to be as anticipated, es timated 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. Accordin gly, readers should not pl ace undue reliance on forward-
looking information.
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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
Tabulation of drilling results from the Growth Explorat ion Program at Pilar Mine that targeted the principal
Banded Iron Formation mineralization from Levels 11 to 16 up to 350 m vertically below current development
and 250 m below the current Inferred Resources.
Pilar Drill Results
Hole ID From
(m)
To
(m)
Down Hole
Interval (m)
Estimated
True Width
(m)
Gold Grade
(g/t Au)
ETW Grade
(g/t Au) Date
PPL445
57.0 67.0 10.1 9.1 2.4 21.5
June
22,
2017
116.0 125.0 9.0 8.2 2.0 16.2
138.0 144.0 6.0 5.2 25.3 132.1
154.0 165.8 11.8 9.6 15.9 152.5
PPL450
27.7 34.1 6.4 4.1 3.1 12.7
July
18,
2017
63.0 71.2 8.2 7.4 4.9 36.3
77.8 81.4 3.6 3.2 5.1 16.2
164.1 171.5 7.4 6.8 5.2 35.0
Including 168.7 171.5 2.9 2.2 10.9 24.2
PPL450 372.1 421.4 49.3 38.7 5.3 206.0
Including 385.7 391.0 5.3 4.1 11.0 45.2
Including 415.9 421.4 5.5 4.3 8.3 35.5
PPL450 495.5 496.9 1.4 1.4 6.6 9.3
514.3 517.2 3.0 2.9 4.0 11.3
PPL451
1.9 6.4 4.6 4.3 1.5 6.5
July
25,
2017
16.3 36.9 20.6 19.8 7.7 152.5
41.9 51.3 9.4 9.0 3.2 28.5
71.1 76.0 5.0 4.5 1.9 8.5
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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 #1
Figure showing the location of growth exploration diamon d drill holes reported relative to the current mine
infrastructure and the projected down-plunge position of the principal Pilar Orebodies. The program targeted
mineralization between Levels 11 to 16, up to 350 m vertically below current development and 250 m below the
current Inferred Resources.
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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
This figure shows the planned drilling configuration for ta rgeting the down-plunge extensions of Orebody A at
Turmalina and the current GT contours.
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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
This figure shows a longitudinal section (SE to NW) of Orebody C at Turmalina highlighting the southeast portion
of the orebody and the planned layout of drill holes for t he recently started program targeting projected down-
plunge extensions to the orebody between Levels 7 and 16.