Jaguar Mining completes remediation work at MTL

Executive Summary

• Jaguar Mining Inc. has completed extensive remediation efforts at its MTL complex (Turmalina mine and processing plant) in Minas Gerais, Brazil, and submitted technical documentation to the National Mining Agency (ANM) on December 10, 2025, demonstrating full compliance and readiness to resume operations.
• The suspension of operations was triggered by a slump at the Satinoco dry-stacked pile (DSP) on December 7, 2024, which involved approximately 600,000 cubic meters of material. The company has since stabilized critical areas adjacent to the slump zone, achieving a factor of safety greater than 1.5.
• While the company will not resume direct operations at the Satinoco DSP, it is awaiting ANM authorization to proceed with Stages 3, 4, and 5 of its resumption plan, which include underground development, underground mining, and the resumption of the metallurgical plant.

Key Details

• Regulatory Submission: Detailed technical documentation demonstrating full compliance with ANM measures was submitted on December 10, 2025.
• Incident Background: Operations were suspended following a slump at the Satinoco DSP on December 7, 2024, resulting in Auto de Interdicao No. 52/2024. The incident involved an estimated 600,000 cubic meters of material and an extension of 330 meters.
• Remediation Achievements:
  • Internal Drainage: Construction of a robust internal drainage system for the Satinoco DSP completed in August 2025.
  • Slope Reconfiguration: Extensive cutting and reconfiguration of slopes behind the paste fill plant completed by November 19, 2025.
  • Stage 1 (Completed Sept. 23, 2025): Installation of temporary surface support infrastructure, including a canteen, changing rooms, infirmary, warehouse, and fuel station.
  • Stage 2 (Completed Nov. 2, 2025): Upgrades to underground emergency paths and ventilation chimneys, including the finalization of the emergency exit raise at Faina.
• Safety Metrics: Specific areas critical for adjacent mining and processing activities have achieved a factor of safety greater than 1.5. The metallurgical plant and its support infrastructure are located outside the slump zone of the Satinoco DSP.
• Operational Strategy: Jaguar Mining explicitly confirmed it will not resume direct operation at the Satinoco DSP. Focus remains on stabilizing areas critical for adjacent activities.
• Pending Authorization: The company is awaiting ANM authorization for the following stages:
  • Stage 3: Resumption of productive underground development.
  • Stage 4: Resumption of underground mining.
  • Stage 5: Operational resumption of the metallurgical plant on the surface.
• Economic Impact: CEO Luis Albano Tondo highlighted that resumption will generate direct/indirect employment, contribute to CFEM (financial compensation for mineral exploitation), and ensure cash flow for operational, labor, socio-environmental, and indemnity obligations.

Notable Quotes

• "In addition to mitigating the negative effects caused to the local community of Casquilho, our top priority has always been and remains the safe resumption of the MTL operation... We have implemented all necessary corrective actions and reinforced our operational safety protocols, achieving demonstrable stability with minimum factor of safety required by norms already exceeded in critical areas." — Luis Albano Tondo, CEO
• "These activities are vital not only for Jaguar Mining, but also for all our stakeholders and the local economy. Full resumption will generate direct and indirect employment, contribute to CFEM... and reinforce the company's overall liquidity." — Luis Albano Tondo, CEO