Jaguar Mining Response to Ongoing COVID-19 Pandemic in Brazil
March 23, 2021 NEWS RELEASE
FOR IMMEDIATE RELEASE TSX: JAG
OTCQX: JAGGF
Jaguar Mining Response to Ongoing COVID-19 Pandemic in Brazil
Toronto, Canada, March 23, 2021 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG;
OTCQX:JAGGF) today announced it would be strengthening its current COVID-19 Response Plan in the wake
of the ongoing pandemic in Brazil.
Since the commencement of the worldwide COVID-19 pandemic approximately one year ago, Jaguar
immediately established a strong COVID-19 Response Plan to protect the health and safety of all our
stakeholders including, employees and their families, all service providers, and the communities in which we
operate. The actions taken by the Company continue to be aligned with and support the Health Attendance
Protocols from the Brazilian Health Ministry and the World Health Organization.
Status of COVID-19 in Minas Gerais, Brazil
In March, Brazil has moved onto a `peak` phase of the disease with deaths in the last average 7-day period to
be the highest so far in the pandemic, placing the current health system across the country at grave risk due to
high hospitalization rates and additional demands in all ICU wards. The rise in the pandemic has caused the
state government of Minas Gerais to declare a curfew from 8:00 pm at night to 5:00 am in the morning
commencing immediately until March 31, 2021.
The local communities near Jaguar operations have also seen an increase in COVID-19 infections, and as a
result, hospitals in our areas of influence are now reaching capacity. The local Prefeituras (area governments)
are currently considering measures to slow the spread of COVID-19. Jaguar, along with other mining companies
operating in or near the communities, continue to meet with the Prefeituras to provide support and to work with
them in implementing any potential steps and viable solutions to protect the communities while keeping the
economy intact.
It is expected that any lockdown and/or increased protocols will be in place until the end of March and probably
longer, until COVID-19 cases significantly decline. Jaguar will adhere to any changes in federal, state, and local
government protocols that result from the pandemic increase. Jaguar has also revised and augmented its overall
COVID-19 Response Plan. The effects of COVID-19 began impacting the company in 2020, but we have
witnessed our highest levels of cases in the first quarter of 2021. Production has been and continues to be
impacted at both operations. The current increase in the intensity of our COVID-19 measures, as dictated by
government guidelines and the pandemic, may also limit production in the near term. We are adapting, but the
increase in absenteeism and the limitations in contractor services is and will have an impact on production.
Currently our team estimates that we can produce within our ounce guidance for the year, assuming conditions
do not worsen, and lockdown restrictions do not become more severe or extend much past March 2021.
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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
Jaguar COVID-19 Response Plan
Jaguar currently employs approximately 1,300 personnel, and over 400 third-party contractors. Since the
beginning of the COVID-19 pandemic the Company has tallied 185 cases with employees and 59 with
contractors. The vast majority of the cases occurred in the first quarter of 2021. A further impact has been from
employees quarantined awaiting test results which have then come back negative, which has impacted an
additional total of 381 people. Employees and contractors are not permitted to return to work without full medical
clearance.
Jaguar has implemented the following new measures in addition to its current COVID-19 Response Plan to
reduce the impact of infections at its operating units:
• A COVID-19 Monitor has been appointed to ensure that all internal pandemic guidelines are adhered to.
• Additional reductions in the number of third-party contractors, with all non-critical work being put on hold.
• Employees over the age of 60 or any employee with high-risk health conditions must work from home.
• Jaguar´s office in Belo Horizonte is being totally closed, and all functions will be working from home.
• The number of site personnel in non-operating roles allowed on the sites is being limited with as much work
as possible assigned to de done from home.
Jaguar’s current COVID-19 Response Plan includes:
• A multidisciplinary CV19 Committee holds weekly meetings to evaluate current pandemic scenarios to
revise, implement and adapt current strategies and pandemic guidelines.
• Travel between Jaguar’s sites and communities including Jaguar's Belo Horizonte corporate office, are
limited to those specifically approved by upper management.
• A home office system has been adopted for all administrative employees and employees considered to be
or have high-risk health conditions.
• All non-safety related in-person meetings and general events have been suspended.
• All visitors and visits by third parties to Jaguar operations have been suspended.
• Implementation of increased hygiene protocols including the enforcement of social distancing in all common
areas, such as restrooms, lockers, cafeterias, and buses.
• Outsourced suppliers, companies and third parties have had limited access at all of Jaguar’s operations.
• Constant awareness via promotions and educative campaigns regarding COVID-19 are prominently
displayed in and around company vehicles such as buses and trucks and in all common areas as well as
through social media channels.
• Disciplinary measures are in place for any employee who disobeys health and/or distance protocols.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in
Brazil with two gold mining complexes and a large land package with significant upside exploration potential
from additional mineral claims. The Company's principal operating assets are in the Iron Quadrangle, a prolific
greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Mining
Complex (Pilar Mine and Caeté Plant). The Company also owns the Paciência Gold Mine Complex, which has
been on care and maintenance since 2012. The Roça Grande Mine has been on care and maintenance since
April 2018. Additional information is available on the Company's website at www.jaguarmining.com.
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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
For further information please contact:
Vernon Baker
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 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, expected 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 production,
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 the estimated timeline for the development of 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; 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; 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). In addition, the Company's principal
operations and mineral properties are located in Brazil and there are additional business and financial risks inherent in doing
business in Brazil as compared to the United States or Canada. In Brazil, corruption represents a challenge requiring extra
attention by those who conduct business there. Corruption does not only occur with the misuse of public, government or
regulatory powers, it also can occur in a business's supplies, inputs and procurement functions (such as illicit rebates,
kickbacks and dubious vendor relationships) as well as the inventory and product sales functions (such as inventory
shrinkage or skimming). Employees as well as external parties (such as suppliers, distributors and contractors) have
opportunities to commit theft, procurement fraud and other wrongs against the Company. While corruption, bribery and fraud
and theft risks can never be fully eliminated, the Company reviews and implements controls to reduce the likelihood of these
events occurring. The Company's present and future business operations face these risks. Accordingly, for all of the reasons
above, 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
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.sedar.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 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.