Turmalina Delivers Further High-Grade Intercepts from In-Mine, Exploration and Resource Conversion Drilling Drilling highlights include: 22.87 g/t Au over an estimated true width of 5.4m in Orebody CNW 13.54 g/t Au over an estimated true width of 6.4m in Orebody B
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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
February 14, 2023 NEWS RELEASE
FOR IMMEDIATE RELEASE TSX:JAG,OTCQX:JAGGF
Turmalina Delivers Further High-Grade Intercepts from In-Mine, Exploration and Resource
Conversion Drilling
Drilling highlights include:
22.87 g/t Au over an estimated true width of 5.4m in Orebody CNW
13.54 g/t Au over an estimated true width of 6.4m in Orebody B
7.98 g/t Au over 5.2m* in Pontal South
9.51 g/t Au over 9.8m*in Faina Resource Conversion Infill Drilling
* (Drilled width – true width unknown)
Toronto, February 14, 2023 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG, OTCQX: JAGGF)
is pleased to announce positive results from ongoing exploration and growth activities at its Turmalina Complex
located in Minas Gerais, Brazil.
In the fourth quarter of 2022, t he Company progressed several priority diamond drill campaigns focused on high
grade extensions of mineralization discovered earlier in 2022. The most recent exploration diamond drilling focused
on high grade mineralization in the C Structure at Turmalina, follow-up step-out drilling at its Pontal South Discovery
(press release dated September 6, 2022), and high-grade targets within the B Structure (press release dated June
04, 2019) also at shallow levels in the mine.
Results from the drilling have been encouraging with continued high grade s over mineable widths reported from
various areas within the C and B Mineralized Structure s including the identification of a new mineralized structure
in the footwall of the C Structure.
Step out drilling at the Pontal South Discovery has demonstrated continuity of high -grade mineralization to depth
down plunge.
At the Faina Growth Project, t he Company completed approximately 15 ,359 meters (46 holes) of infill resource
conversion drilling with the goal of converting the published Inferred Mineral Resource to an Indicated Mineral
Resource. Infill drilling at Faina has confirmed the high-grade characteristics of this mineralization and continuity
within the deposit. This drilling underpins the geological and grade model for this important growth project.
The Company will publish updated Mineral Reserves and Mineral Resources with its AIF in March 2023.
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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
Highlights include (over an estimated true width):
C- Structure Mineralization
11.56 g/t Au over 4.6m
8.08 g/t Au over 6.8m
22.87 g/t Au over 5.4m
B- Structure Mineralization
11.58 g/t Au over 7.6m
9.60 g/t Au over 6.2m
13.54 g/t Au over 6.4m
Pontal South Exploration Target
2.44 g/t Au over 19.6 m* (including 3.28 g/t Au over 12.7m*)
4.69 g/t Au over 10.1 m* (including 7.98 g/t Au over 5.2m*)
* (Drilled widths – true width unknown)
Faina Project Infill Drilling Results
4.40 g/t Au over 23.3m* (including 9.51 g/t Au over 9.8 m*)
7.10 g/t Au over 11.0m* (including 8.20 g/t Au over 9.0m*)
9.57 g/t Au over 6.80 m* (including 77.7 g/t Au over 0.8 m*)
* (Drilled widths – true width unknown))
Vern Baker CEO Jaguar commented “I am very excited about the positive drill results reported today as they support
the Company’s organic growth plans and ultimately our future production profile. The high grades in the C and B
Structures are at shallow levels and close to development in the se sectors of the mine which justifies our plan to
focus production in th ese areas and support ongoing underground access development towards the Faina
Resource. The success of infill drilling at Faina and the continued definition of new mineralized areas along the
main structural trend continue to demonstrate the upside potential of this trend”.
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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 – Plan View MTL – Faina – Pontal Trend with updated results
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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 – Long Section showing the location of exploration diamond drilling results reported relative to
the Turmalina Mine – Faina Project and Pontal, Pontal North and Pontal South Targets
Turmalina Mine – Orebody C and B Structure Drilling
At Turmalina, drilling in the later part of 2022 and into 2023 focused on further delineation and expansion of higher-
grade mineralization manifested within the C Structure at shallow depths and close to current mining access and
production development Step out drill testing the projected plunge continuity is su ccessfully expanding the higher-
grade footprint in a series of structurally controlled zones. Similarly, exploratory work aimed at refining the
geological-structural controls on higher grade mineralization within the B Structure, has recently recommenced, also
at shallow levels close to existing underground mine development access. ( Press releases dated September 6,
2022 and June 4, 2019).
Of note is the intersection of a newly identified structure in the footwall to the known mineralized zones within the C
Structure. Hole FTS2165 intersected a mineralized interval grading 3.88 g/t Au over an estimated true thickness of
6.6m.
High grade mineralization intercepts with grade x thickness (GT) > 25 (gram per tonne meter) are tabulated below.
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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 - Best Drilling Intersections C-Structure with Grade x Thickness (GT) > 25 in the Turmalina Complex
Summary of Diamond Drill Intersections
Orebody C Structure Turmalina Mine
Hole ID From
(m)
To
(m)
DownHole
Interval
(m)
Estimated
True
Width
(ETW) (m)
Gold
Grade (g/t
Au)
GT
(Grade x
ETW)
FTS2165 60.4 70.3 9.82 6.6 3.88 26
FTS2280 132.4 138.8 6.34 4.6 11.56 53
FTS2285 147.1 155.8 8.67 6.80 8.08 55
FTS2218 159.7 165.7 6.05 5.4 22.87 124
Figure 3 – Plan view showing C- Structure Drilling Intersection Location
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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 2 - Best Drilling Intersections B-Structure
Summary of Diamond Drill Intersections
Orebody B Structure Turmalina Mine
Hole ID From
(m)
To
(m)
DownHole
Interval (m)
Estimated
True Width
(ETW) (m)
Gold Grade
(g/t Au)
GT
(Grade x
ETW)
GR390LM01 65.3 84.4 19.1 7.6 11.58 88
B390LM12 4.6 11.6 7.0 6.2 9.60 59
B390LM11 2.3 9.8 7.5 6.4 13.54 86
Figure 4 – Plan view of B Structure showing drill intersections location
Pontal South - Follow Up Step Out Drilling
In September 2022, the Company announced the discovery of mineralization at Pontal South located in the gap
between the previously identified Mineral Resources at Pontal and Faina within the overall main Turmalina structural
trend.
Subsequent step out drilling confirmed continuity of the mineralization to depth down plunge with a high grade
intersection in hole PTL 105 which reported 4.69 g/t Au over a drilled width of 10.1m including 7.98 g/t Au over a
drilled width of 5.2m .
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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 3 - Best Drilling Intersections Pontal South
Summary of Diamond Drill Intersections
Orebody Pontal South Structure
Hole ID From (m) To (m) DownHole
Interval (m)
Gold Grade
(g/t Au)
GT*
(Grade x
Thickness)
PTL105 255.0 265.1 10.1 4.69 47
Including 258.0 263.2 5.2 7.98 41
GT*: (Drilled width – true width unknown)
Figure 5 – Plan view of Pontal South showing Diamond Drill Hole Location and Results
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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 6 – Pontal South Cross Section through hole PTL105
Faina Growth Project Resource Conversion Drilling
At Faina, 15,359 meters of infill drilling (46 Holes) completed in 2022 aimed at converting the published Inferred
Mineral Resource Inventory (M+I+I Resource 417Koz @ 7.2 g/t Au) to Indicated Mineral Resource Inventory.
Infill drilling at Faina largely confirmed the continuity and high -grade characteristics of this deposit which has
informed a full update of the geological and grade model to support the planned progression of this project through
the PEA and PFS processes.
The Company will publish updated Mineral Reserves and Mineral Resources along with its AIF in March 2023.
Table 4 - Faina Resource Conversion Infill Drilling - Best Intersections
Summary of Diamond Drill Intersections
Faina Resource Conversion Infill Drilling - Best Intersections
Hole ID From (m) To (m) DownHole Interval (m) Gold Grade (g/t Au)
GT*
(Grade x
Thickness)
FUH180 216.2 236.9 20.8 2.52 52
Including 222.4 227.0 4.6 6.28 29
FUH183 192.6 205.7 13.1 3.69 48
Including 204.7 205.7 1.0 24.80 25