Jaguar Mining Reports Consistent Drilling Results at the BA Zone of the Pilar Gold Mine, Brazil, Demonstrating Down-plunge Continuity
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Jaguar Mining Reports Consistent Drilling Results at the BA Zone of the
Pilar Gold Mine, Brazil, Demonstrating Down-plunge Continuity
- Technical update on exploration drilling & resource expansion strategy
__________________________________________________________________________________________
TORONTO, Ontario – June 15, 2026 – Jaguar Mining Inc. ("Jaguar" or the "Company") is pleased to report the
latest results from its ongoing diamond drilling program at the Pilar Gold Mine ("Pilar"), located within the Iron
Quadrangle in Minas Gerais, Brazil. The current campaign successfully targeted the down -plunge extensions of
the BA Zone within the Pilar Mine, demonstrating that high-grade mineralization remains robust and predictably
continuous at depth. These results support a key component of the Company’s strategy to de-risk and convert its
current exploration targets into formal Mineral Resources.
Highlights
● Proven Continuity: Drilling confirms that the BA Zone mineralization extends over 1.5 km down-plunge
and remains open at depth, indicating significant untapped potential (see Figure 1).
● High Geological Confidence: Consistent gold grades and structural thickness support high-certainty
modeling for an additional 300 vertical meters beyond current mining levels.
● Resource Growth Potential: These results validate the strategy to convert the gold mineralization in this
highly prospective exploration target into formal Mineral Resources, supporting the potential expansion of
the Life of Mine (LOM).
● Superior Grades: Key intercepts significantly exceed the mine's current average reserve grade,
including 5.30m @ 8.52 g/t Au and 10.00m @ 5.82 g/t Au (see Table 1).
Assay Highlights (full results in Table 1)
Hole From (m) To (m) Width (m) Grade
FSB1316 0.00 3.95 2.20 18.20 g/t Au
FSB1385 14.75 26.50 6.50 6.22 g/t Au
FSB1360 54.75 60.80 5.30 8.52 g/t Au
PPL1221 21.30 28.55 5.90 7.18 g/t Au
PPL1237 102.80 115.05 10.00 5.82 g/t Au
Including 102.80 107.90 4.00 11.00 g/t Au
PPL1237 127.10 131.95 3.00 5.73 g/t Au
FSB1424 84.55 87.40 2.30 17.97 g/t Au
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
"The consistency of the BA Zone at depth is a testament to the quality of the Pilar orebody," stated Armando
Massucatto, General Manager of Exploration of Jaguar. "By balancing technical precision with our operational
goals, we are demonstrating that the potential of this exploration target is not just theoretical, but a tangible
pathway to growth. The structural predictability we are seeing allows us to plan our underground development
with increased confidence, effectively de-risking the next phase of the mine's evolution."
Geological Overview and Technical Analysis
The mineralized zones at the Pilar Mine are primarily hosted within a robust Banded Iron Formation (BIF)
sequence. The gold mineralization is structurally controlled by the intersection of regional fold axes with the BIF
layer, which creates concentrated "mineralized shoots" of higher-grade material (see Figure 2).
Technically, the "open" nature of these folds at depth is a critical factor for the deposit's scale. These structural
elements provided the necessary accommodation space for the circulation of gold-bearing hydrothermal fluids
during the mineralizing event. Because these folds are continuous and well-defined, the resulting mineralization
follows a predictable geometry (see Figure 3). This means that the risk of "losing" the mineralized zone at depth
is significantly reduced, as the geological model continues to be validated by every new drill hole (see Figure 4).
Table 1 – Drilling Assay Results
The following table summarizes the most significant intercepts from the recent drilling campaign at the BA Zone.
All grades are reported as uncut, and widths represent the Estimated True Width (ETW).
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)
Date
(mm/dd/yyy) Orebody
FSB1316 0.00 3.95 3.95 2.20 18.20 2-18-2026 BF
FSB1357 21.80 25.55 3.75 3.50 10.97 2-18-2026 TORRE
FSB1354 27.95 31.05 3.10 2.20 9.09 2-23-2026 BF
FSB1372 3.25 6.90 3.65 3.00 12.39 2-23-2026 TORRE
FSB1317 47.25 59.50 12.25 8.00 2.00 2-24-2026 BF
FSB1375 4.55 10.80 6.25 4.80 3.76 3-9-2026 LPA
FSB1360 54.75 60.80 6.05 5.30 8.52 3-23-2026 BF
FSB1382 7.45 9.95 2.50 2.00 7.51 3-23-2026 LPA
FSB1380 21.05 33.20 12.15 9.00 3.50 3-25-2026 LPA
FSB1383 31.40 37.55 6.15 5.20 6.36 3-25-2026 LPA
FSB1385 14.75 26.50 11.75 6.50 6.22 4-14-2026 BFII
PPL1235 147.00 152.75 5.75 2.50 7.80 4-20-2026 LS
PPL1199 20.00 30.95 10.95 9.00 3.63 4-20-2026 LS
FSB1193 107.25 109.20 1.95 1.50 10.09 4-23-2026 BA
PPL1221 21.30 28.55 7.25 5.90 7.18 5-2-2026 BFII
FSB1393 1.40 13.25 11.85 7.00 3.14 5-7-2026 SW
FSB1392 9.80 15.70 5.90 5.50 5.63 5-7-2026 SW
3
JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
FSB1402 0.00 3.70 3.70 3.50 17.25 5-11-2026 BFII
PPL1239 121.50 127.90 6.40 3.50 6.18 5-13-2026 LPA
FSB1403 1.30 4.25 2.95 2.80 10.18 5-17-2026 BFII
FSB1403 5.60 10.20 4.60 4.30 5.85 5-17-2026 BFIII
PPL1214 68.00 72.30 4.30 2.30 11.54 5-17-2026 LFW
FSB1194 41.15 43.85 2.70 1.90 9.41 5-20-2026 LS
FSB1194 60.65 66.15 5.50 3.90 3.85 5-20-2026 LPA
PPL1237 102.80 115.05 12.25 10.00 5.82 5-22-2026 LPA
Including 102.80 107.90 5.10 4.00 11.00 5-22-2026 LPA
PPL1237 127.10 131.95 4.85 3.00 5.73 5-22-2026 BA
FSB1409 14.10 17.30 3.20 2.10 7.57 5-27-2026 SW
FSB1424 84.55 87.40 2.85 2.30 17.97 5-27-2026 BA
FSB1424 88.45 102.05 13.60 11.00 2.45 5-27-2026 TORRE
FSB1195 59.60 64.20 4.60 3.80 4.05 5-27-2026 LPA
FSB1195 80.85 91.85 11.00 8.80 3.60 5-27-2026 BA
Including 83.65 91.85 8.20 6.50 4.18 5-27-2026 BA
Table 2 – Location of drillholes
HOLE ID Easting
(m)
Northing
(m)
Elevation
(m)
Total
Depth (m)
Collar Dip
(°)
Collar
Azimuth (°)
Orebody
FSB1193 663031.1 7787949.0 -389.0 173.5 1.9 189.9 LPA
FSB1194 663032.5 7787949.4 -388.4 83.6 17.3 152.9 BA
FSB1195 663031.5 7787948.9 -388.4 113.5 14.8 179.1 BA
FSB1316 662669.1 7788126.0 -298.6 53.6 -9.9 106.8 BF
FSB1317 662728.0 7788129.3 -298.1 95.0 13.4 271.3 BF
FSB1354 662727.8 7788129.3 -299.6 68.3 -36.2 268.9 BF
FSB1357 662938.1 7788054.0 -261.8 52.7 15.4 235.6 LPA
FSB1360 662728.7 7788128.7 -298.7 92.4 -6.5 247.6 BF
FSB1372 663006.4 7787998.5 -251.1 26.5 3.4 220.1 BA
FSB1375 662981.2 7788023.8 -252.8 45.1 -19.7 34.7 LPA
FSB1380 662957.4 7788067.5 -256.7 53.8 30.2 250.4 LPA
FSB1382 662970.8 7788048.7 -254.0 49.4 9.6 33.9 LPA
FSB1383 662958.2 7788066.5 -257.9 57.1 0.1 207.2 LPA
FSB1385 662647.9 7788351.7 -160.3 62.9 14.5 266.1 SW
FSB1392 662610.9 7788369.6 -159.1 58.7 -15.9 301.7 BA
FSB1393 662611.9 7788370.7 -159.0 38.8 -12.1 350.3 SW
FSB1402 662706.7 7788280.1 -162.5 29.7 -10.1 0.1 SW
FSB1403 662716.6 7788280.6 -161.5 32.5 30.0 181.7 SW
FSB1409 662569.0 7788482.4 -57.2 38.6 20.2 0.7 SW
FSB1424 663030.9 7787949.1 -388.3 120.0 18.4 192.6 BA
PPL1199 662961.2 7788071.1 -258.6 51.0 -40.2 29.1 LPA
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
PPL1214 662627.8 7788817.5 300.6 179.6 30.3 321.0 SW
PPL1221 662712.3 7788162.4 -299.2 46.7 -40.1 342.3 BFII
PPL1235 663029.8 7787950.1 -389.6 239.8 -17.7 229.2 LPA
PPL1237 663033.0 7787949.8 -389.2 248.1 0.8 137.1 BA
PPL1239 663030.9 7787949.2 -389.3 191.6 -7.2 194.6 LPA
Figure 1: Longitudinal Section of the Pilar Mine. This section illustrates the 0.6 km down-plunge continuity of the
BA Zone, highlighting the consistency of the mineralized envelope from the upper levels to the current drilling
depth.
Figure 2: Cross-Section of the BA Zone. Detailed view showing the BIF -hosted mineralization and the structural
control exerted by the fold axes, demonstrating the predictable thickness of the mineralized shoots.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 3: 3D Resource Model and Exploration Target. A spatial representation of the exploration target, showing
how recent drilling is successfully intersecting the projected mineralized zones.
Figure 4: Longitudinal view (looking North) showing the main mineralized zones and the expected impact points for
directional drilling. Red traces represent the drill holes reported in this news release.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Cautionary Disclosure
The Company believes that the property has the potential for additional ounces below the extent of the current
active underground workings. This is based on previous exploration on the property, including over 2873 historic
drill holes. The exploration target potential was derived by modeling the identified vein systems, and their
surrounding “halo” mineralization, as evidenced by drill intercepts in the exploration target area, across vertical
long sections of the mine area. There has been insufficient exploration to define a mineral resource with respect
to the exploration target, and the Company cautions that there is a risk further exploration will not result in the
delineation of a mineral resource.
Quality Assurance and Quality Control (QA/QC)
Jaguar Mining maintains a rigorous QA/QC program at the Pilar Mine. All diamond drill core is logged,
photographed, and split with a diamond saw at the Company’s secure facility. Samples are transported to the
Company’s on-site laboratory or accredited third-party laboratories. The program includes the insertion of certified
standards, blanks, and duplicates into the sample stream to ensure the precision and accuracy of the analytical
results.
About the Iron Quadrangle (Quadrilátero Ferrífero)
The Pilar Mine is located in the Iron Quadrangle (Quadrilátero Ferrífero), a world -class, prolific greenstone belt in
the state of Minas Gerais, Brazil. This region is renowned for its significant iron and gold deposits, hosted within
Archean and Paleoproterozoic sequences. Jaguar’s strategic land package in this district continues to offer
substantial exploration upside.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by
Armando José Massucatto, Geologist, PhD, General Manager of Exploration for Jaguar Mining, and a "Qualified
Person" as defined by National Instrument 43-101.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 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. 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.
Naomi Nemeth
Vice President Investor Relations
Jaguar Mining Inc.
+1 647 882 4257
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, drill results from the Pilar BA Zone; resource expansion strategy; potential mineralization; converting the Company’s
current exploration targets into formal mineral resources; potential Life of Mine expansion; potential mineral resources; growth
plans and strategy; the potential for a significant number of ounces being contained within the ore zones below the extent of
the current active underground workings; and the success of the Company’s exploration, development and mining activities.
The Company has made numerous assumptions with respect to forward-looking information contained herein, including,
among other things, the possibility that future exploration (including drilling) or development results will not be consistent with
the Company's expectations, the estimated timeline for the exploration and development of the Company’s exploration targets;
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 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 forecast plans regarding its operations and financial performance;
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
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 (which is dated March 31, 2026) 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.ca. 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.