Jaguar Mining to conduct 5,000 m drill program at Pilar

Executive Summary

• Jaguar Mining Inc. announced a strategic 5,000-meter directional diamond drilling program at its Pilar mine in Brazil, scheduled for 2026.
• The program aims to test down-plunge continuity of high-grade gold mineralization, targeting a projected endowment of over 520,000 ounces of gold across three phases.
• The initiative builds on recent successful exploration results from the BA zone, with the goal of significantly extending the life-of-mine and reinforcing Pilar's position as a long-term, high-grade producing asset.

Key Details

• Program Scope: A comprehensive 5,000-meter directional diamond drilling program planned for 2026 at the Pilar mine.
• Primary Objective: To investigate and define a projected endowment of over 520,000 ounces of gold by testing down-plunge continuity of known high-grade zones.
• Phase 1 (BA Zone):
  • Target: Approximately 90,000 ounces of gold endowment.
  • Focus: Confirming deep extensions of the BA zone, which recently yielded exceptional intercepts including 12.80 g/t Au over an estimated true width of 25.00 meters.
• Phase 2 (LPA and BF Zones):
  • Target: Approximately 375,000 ounces of gold endowment.
  • Focus: Broadening exploration to include parallel structures and extensions in the LPA and BF zones.
• Phase 3 (Deep BA Zone):
  • Target: Approximately 55,000 ounces of gold endowment.
  • Focus: Targeting even deeper extensions of the BA zone and exploring potential resources beyond current known zones.
• Geological Context: Mineralization is hosted in complex, overturned folds of banded iron formation (BIF) layers with significant hydrothermal alteration and sulphide minerals (pyrrhotite). The strategy relies on the characteristic down-plunge continuity observed in Brazil's Iron Quadrangle.
• Production Impact: The BA zone is already expected to deliver approximately half of the mine's total production going forward; extending these zones at depth would solidify Pilar's role as a key growth driver.
• Qualified Person: Armando Jose Massucatto, Geo, PhD, FAusIMM, General Manager of Exploration, reviewed and approved the scientific and technical information.

Notable Quotes

• Luis Albano Tondo, CEO: "The recent achievements at the BA zone have provided compelling evidence of the enduring quality and depth of our Pilar asset. This new directional drilling campaign is a concrete step toward realizing that potential... Our objective is clear, to identify and define over half a million ounces of gold, which would represent a transformative addition to our mineral resource base and significantly extend the life-of-mine at Pilar."
• Armando Massucatto, GM of Exploration: "The consistent structural controls and the confirmation of folded ore zones at depth, coupled with characteristic mineral associations, give us high confidence in this program. Directional drilling allows us to precisely target the down-plunge extensions that our geological models indicated have historically delivered significant value."