Jaguar Mining Intercepts Wide High-Grade Gold Mineralization from Initial Growth Exploration at Turmalina; Confirms Extension to Principal Orebodies
NEWS RELEASE
November 28, 2017 TSX: JAG
FOR IMMEDIATE RELEASE
Jaguar Mining Intercepts Wide High-Grade Gold Mineralization from Initial Growth
Exploration at Turmalina; Confirms Extension to Principal Orebodies
Toronto, Canada, November 28, 2017 – Jaguar Mining In c. ("Jaguar" or the "Company") (TSX: JAG)
today announced initial results from the first 18 underground drill holes (5,4 54m) from the Company’s Growth
Exploration Program at Turmalina Gold Mine (“Turmalina”) in Minas Gerais, Brazil, targeting the down-plunge
continuity of the principal miner alized Orebodies A and C (see press release September 20, 2017). Results
reported are for the first 14 holes (4,368m) on Orebody A, as well as 4 holes (1,068m) on Orebody C, and
represent approximately 50% completion of an overa ll exploration program of 11,355m. Three diamond drill
rigs are currently focused on completi ng the remaining 50% of this progr am. Further results will be released
over the coming months with an upgraded mineral resource expected to be published during 2018.
Highlights and Key Intercepts
● Drilling results include multiple intercepts with wi de and high-grade mineralizat ion and confirm significant
depth extensions to principal Orebodies A and C that remain open for expansion.
● Orebody A key intercepts: 17.72g/t Au over 13.7m (ETW 10.2m) including 40.81g/t over 5.2m (ETW
3.87m),4.46g/t Au over 19.05m (ETW 11m) includi ng 16.37g/t Au over 2.2m (ETW 1.27m) and 6.39g/t
Au over 5.65m (ETW 5m) (see Table 1 and Appendix 1).
● Orebody C key intercepts: 29.15g/t Au over 1.75m (ETW 1.65m) , 3.51g/t Au over 4.10m (ETW 3.95m)
and 4.57g/t Au over 3.85m (ETW 3.46m) , which is the deepest intercept on this orebody to-date close to
level 9, or 300 m below current operational infrastructure on level 3. (see Table 2 and Appendix 2).
● Orebody A drill results demonstrate continuity of high-grade gold mineralization to below level 15
approximately 300m below the current deepest operations on level 11.
● Deepest intercept reported to date is on level 16 with 3.80g/t Au over 11.05m (ETW 4.30m) including
5.25g/t Au over 3.55m (ETW 1.38m).
● The downward extension of Orebody C is ideally positioned approximately 250 meters away from the
principal ramp infrastructure of Orebody A (see Figures 2 and 3).
Definitions: ETW – estimated true width g/t Au – grams per tonne gold m – metres
Rodney Lamond, President and Chief Executive Officer, Jaguar Mining commented “We are very pleased to
announce these positive re sults and the successful start of our growth exploration drilling program at
Turmalina. Drilling from the first 18 holes focused on targeting down-plunge ext ensions to the high-grade
Orebody A at depth, while also targ eting extensions of Orebody C at s hallower depths. These results confirm
significant wide, high-grade gold mineralization within the primary orebodies at Turmalina. The multiple high-
grade intercepts validate the geological model and confir m significant upside potential to grow the resource
base at Turmalina. To date in 2017, we have successf ully completed more than 20,000 meters of a targeted
diamond drilling exploration and growth program across of our core assets. Our priority was to focus on
upgrading and converting our resource s and on growth drilling to increase and add new resources. We look
forward to reporting updated minera l resources and mineral reserves in early 2018 that will reflect the
excellent results we have achieved throughout this year.”
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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
Growth Exploration Program Key Highlights
● Drilling completed to date has successfully inters ected both Orebody A and Orebody C between Levels 11
to 15 and levels 5 to 9 respectively.
● Results from initial step out holes on Orebody A include several wide, high-grade gold intercepts
representing the thickened central portion of Orebody A, as well as quality intercepts from contiguous
narrower parts of the Orebody A stru cture. In addition, the first four holes targeting depth extensions to
Orebody C have demonstrated orebody continuity to level 9, approximately 300m below the current
operational infrastructure on level 3. These positive results validate the projected mineralization plunge
and grade envelopes well beyond current mine production infrastructure on both principal orebodies.
● Importantly, these intercepts were achieved from bot h targets in their respective predicted down-plunge
projected positions up to 300m below current operational infrastructure and resource limits, and at grades
and thicknesses consistent with historical produc tion and resource grades. Grade, tonnage and ounces-
per-vertical-metre are expected to be maintained at historical levels (see Figures 1, 2, 3 and 4).
● Intercept widths and grades vary, as expected, acco rding to the location of the pierce points along the
targeted structures that host Or ebody A. The wider, higher-grade zones reflect a drill intersection cutting
an area where the separate host shea r structures that define this orebo dy merge. This consistent, wide,
high-grade zone extends some 40m along strike, can attain widths in excess of 12m and has a plunge of
50 degrees to the northeast. This wider zone (payshoot) is reflected above 30 GT (grade x thickness) on
the GT plot (see Figure 1).
● Narrower intersections with more variable grades occur where pierce points are intersecting either one or
two of the host shears, which may be separated by low grade mineralization or waste where these
segments of the overall mineralized structure are manifested as distinct separate structures (see Figures 1
and 2).
● Growth exploration drilling is initially target ing the down-plunge depth ext ensions to higher grades
associated with the narrower southeas t and thicker central portions of Orebody C identified for the first
time earlier in 2017 (see press release February 8, 2017). Production development and infill drilling
completed this year centred on levels 3 and 4 conf irmed and enhanced the drilled widths and grades on
these levels.
● To guide the growth exploration drilling, intersec tions from infill and production—grade control drilling
conducted by Jaguar during 2017 were used to prepare grade thickness models in conjunction with initial
structural work to project this orebody to depth down plunge 300m vertically below level 3. The intercepts
used to prepare the grade thickness plots on Figure4 are tabulated in Appendix 3.
Jon Hill, Senior Expert Advisor (Geology and Explor ation) to the Jaguar Mining Management Committee
commented: “Today’s excellent results demonstrate material extensions to both principal Orebodies A and C,
clearly underpin the long-term future of Turmalina, and support the value of sustained investment in
exploration. The results from Orebody C are particular ly encouraging as only four holes have been completed
to date, and these have sampled a relatively small portion of the known potential strike length of the
mineralized horizon as observed closer to surface. We continue to explore this horizon going forward.”
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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
Drill Results and Intercepts –Turmalina
Drill results reported below and in Appendices 1 and 2 provide the potential to add substantial new mineral
resources at Turmalina and include the following key intercepts:
Orebody A
– FTS1434 intercepted 4.71g/t Au over 9.80m (ETW 8.5m)
– FTS1435 intercepted 6.39g/t Au over 5.65m (ETW 5.0m)
– FTS1436 intercepted 5.27g/t Au over 6.75m (ETW 6.11m)
– FTS1440 intercepted 17.72g/t Au over 13.70m (ETW 10.2m)
o (Including 40.81g/t Au over 5.2m (ETW 3.87m)
– FTS1444 intercepted 4.46g/t Au over 19.05m (ETW 11.2m)
o (Including 16.37g/t over 2.2m (ETW 1.27m)
Orebody C
– FTS1470 intercepted 1.38g/t Au over 3.85m (ETW 3.85m)
– FTS1471 intercepted 3.51g/t Au over 4.10m (ETW 3.95m)
– FTS1472 intercepted 29.15g/t Au over 1.75m (ETW 1.65m)
– FTS1473 intercepted 4.57g/t Au over 3.85m (ETW 3.46m)
o (Including 7.75g/t over 2.1m (ETW 1.89m)
Please see Tables 1 and 2, Figures 1, 2, 3 and 4, and Appendices 1 and 2 for more details.
● Drilling is being undertake n from a hanging wall development drive specifically prepared and completed
for this program on Level 10-1. Drilli ng targeting Orebody A is designed to intersect this orebody between
Levels 12 to 16, up to 300m vertically below the current development (see Figures 1 and 2).
● At shallower levels, drilling is ta rgeting projected down-plunge extensions to Orebody C, which, once
confirmed, will allow access for mining from ex isting infrastructure between Levels 4 and 10
(see Figures 3 and 4).
● Regular updates on progress with results will be re leased over the coming months prior to reporting
updated Mineral Resources in 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 al so 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-cont rol 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 characteristic s such as lithology and hydr othermal alteration. All
diamond drill hole collars are accurately surveyed usi ng a Total Station instrument and down-hole deviations
are surveyed using non-magnetic equipment (SPT Stock holm Precision Tools with GyroMaster™ Solid State
North Seeker).
Mean grades are calculated using a variable lower gr ade cut-off (generally 0.5 g/t Au). No upper gold grade
cut has been applied to the data. Ho wever, 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
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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
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 (s ubsidiary of ALS Global) laboratory located in
Vespasiano, Minas Gerais, Brazil. The analysis is condu cted at ALS Global’s respective facilities (fire assay
are conducted by ALS Global in Lima, Peru, and mult i-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
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 explor ation dating back to the 16th century. The discovery
in 1699-1701 of gold contaminated with iron and platinum-g roup 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 64,000 hectares. The Company’s principal operating
assets are located in the Iron Quadrangle, a prolific gr eenstone belt in the state of Minas Gerais and include
the Turmalina Gold Mine Complex and Caeté Gold Mi ne Complex. The Company also owns the Paciência
Gold Mine Complex, which has been on care and maint enance 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
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-l ooking statements and information are provided for the
purpose of providing information about management's expect ations and plans relating to the future. All of the
forward-looking information set forth in this news rel ease is qualified by the ca utionary 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 id entified by the use of words such as "are expected", "is forecast", "is
targeted,” "approximately," "plans," "anticipates," "project s," "continue," "estimate," "believe," or variations of
such words and phrases or statements t hat certain actions, events or result s "may," "could," "would," "might,"
or "will" be taken, occur or be achi eved. All statements, ot her 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 r eports, as applicable. This news release contains
forward-looking information regarding potential and, among other things, expected future mineral resources,
potential mineral production opportunities, geological and mineral exploration statistics, ore grades, current
and expected future assay results, and definition/delineat ion/exploration drilling at the Pilar Gold Mine and the
Turmalina Gold Mine in Brazil, as well as forward-look ing information regarding costs of production, capital
expenditures, costs and timing of t he development of projects and new de posits, 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
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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
information contained herein, including, among other things, assumptions about the estimated 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 es timates and the assumptions on which the reserve and
resource estimates are based; the receipt of necessar y 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 ex pectations including, without limitation, the impact of
any potential power rationing, tailings facility regul ation, exploration and mine operating licenses and permits
being obtained and renewed and/or there being adverse am endments 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 am ong others: the risk of Jagua r not meeting its plans
regarding its operations and financial performance; uncerta inties 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 cost s or production delays due to natural disasters,
power disruptions, procurement and deliv ery of parts and supplies to the operat ions; uncertainties inherent to
capital markets in general (including the sometimes vola tile 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 diffe r materially from those anticipated by the Company and
described herein. In addition, there are risks and hazard s associated with the busin ess of gold exploration,
development, mining and production, including without limitation environmental hazards, tailings dam failures,
industrial accidents and workplace safety problems, unus ual 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-lo oking 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.
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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 selected drilling results with Grade x Th ickness (GT) values greater than 10 from Orebody A
Growth Exploration Program. Full results reported to date are tabulated in Appendices 1 and 2.
Please note assay results reported were analyzed at ALS.
Turmalina Gold Mine
Drill Results – Orebody A
Hole ID From
(m)
To
(m)
DownHole
Interval (m)
Estimated True
Width (m) Gold Grade (g/t)
GT
(Grade x
Thickness)
FTS1430 295.15 299.25 4.10 2. 11 5.82 12.29
FTS1434 235.9 245.7 9.80 8. 50 4.71 40.02
Including 243.6 245.7 2.10 1. 82 9.25 16.85
FTS1435 234.75 240.4 5.65 5. 00 6.39 31.94
Including 234.75 237.25 2.50 2. 21 12.98 28.72
FTS1436 245.05 251.8 6.75 6. 11 5.27 32.23
Including 249.55 250.75 1.20 1. 09 15.55 16.89
FTS1437 279.95 281.95 2.00 1. 40 14.82 20.75
299.05 302.7 3.65 2. 58 79.27 204.19
Including 301.4 302.7 1.10 0.78 254.00 197.18
FTS1437 350.1 352.2 2.10 1. 48 11.96 17.72
FTS1440 156.85 170.55 13.70 10. 20 17.72 180.76
Including 156.85 162.05 5.20 3. 87 40.81 158.00
Including 156.85 159.2 2.35 1. 75 49.56 86.72
Including 160.25 162.05 1.80 1. 35 51.14 69.05
FTS1444 256.2 275.25 19.05 11. 00 4.46 49.06
Including 257.35 259.55 2.20 1. 27 16.37 20.79
Including 270.8 271.9 1.10 0. 64 16.95 10.77
FTS1445 434.9 445.95 11.05 4. 30 3.80 16.34
Table 2
Tabulation of drilling results received to date from the Orebody C Growth Exploration Program.
Please note assay results reported were analyzed at ALS.
Turmalina Gold Mine
Drill Results – Orebody C
Hole ID From
(m)
To
(m)
DownHole
Interval (m)
Estimated True
Width (m)
Gold Grade
(g/t)
GT
(Grade x
Thickness)
FTS1470 212.9 216.75 3.85 3. 85 1.38 5.33
223.4 224.55 1.15 1.15 2.58 2.97
FTS1471 41.6 45.7 4.10 3. 95 3.51 13.86
Including 43.5 44.65 1.15 1. 11 6.33 7.01
FTS1471 211.8 214.85 3.05 2. 90 2.30 6.66
244.75 248.1 3.35 3. 11 2.47 7.69
Including 245.8 246.95 1.15 1. 07 4.07 4.35
FTS1472 29.15 30.95 1.80 1.61 2.18 3.51
170.95 173.05 2.10 1. 90 4.39 8.34
FTS1472 198.05 199.8 1.75 1. 65 29.15 48.10
Including 198.05 198.90 0.85 0. 80 39.90 31.98
FTS1473 237 240.85 3.85 3.46 4.57 15.82
Including 237.8 239.9 2.10 1. 89 7.75 14.66
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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 1 shows the location of growth exploration diamond drill holes reported to date relative to the current
mine infrastructure and the projected down-plunge posi tion of Orebody A. The ongoing program is targeting
mineralization between Levels 11 to 16 on Orebody A up to 300m vertically below current development. Grade
thickness (GT) contours based on drilling results rece ived to date and representative horizontal sections
showing the positions of reported drill intersections rela tive to the projected orebody wireframe positions are
also presented (see Figure 2).
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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
Figure 2 shows representative horizontal sections on levels 10, 12 and 15, highlighting the positions of
reported drill intersections relative to the projected Orebody A wireframe positions.