Jaguar Mining Inc. Reports Encouraging Results at Chame Target, Highlighting Potential for Open-Pittable Deposit in Brazil

Executive Summary

• Jaguar Mining reported encouraging trenching results from the Chamé target in Brazil’s Iron Quadrangle, showing broad low‑grade gold mineralization with localized high‑grade intervals.
• The most notable intercepts include 54.47 m @ 0.90 g/t Au (including 4.43 m @ 7.1 g/t Au) from Trench TR02 and multiple sub‑50 m zones averaging 0.3–0.5 g/t Au across the three trenches.
• Based on these results, Jaguar plans to commence a comprehensive drilling program later in 2025 to delineate the mineralized zone, which is estimated to have true thicknesses of 75–100 m and could support an open‑pit operation near existing processing facilities.

Key Details

• Location: Chamé target, Paciência complex, southeast of Santa Isabel mine, Iron Quadrangle, Brazil.
• Trenching Program: Three trenches (TR01, TR02, TR03) spaced ~100 m apart; total length > 428 m.
• Key Intercepts:
• TR02: 54.47 m @ 0.90 g/t Au (incl. 4.43 m @ 7.1 g/t Au); additional intervals 32.22 m @ 1.29 g/t Au and 24.78 m @ 0.41 g/t Au.
• TR01: 42.0 m @ 0.45 g/t Au (incl. 25.0 m @ 0.56 g/t Au, 6.0 m @ 0.93 g/t Au); 33.0 m @ 0.31 g/t Au (incl. 6.0 m @ 0.52 g/t Au).
• TR03: 20.51 m @ 0.21 g/t Au; additional shorter intervals ranging 0.20–0.28 g/t Au.
• Estimated True Thickness of Mineralized Zone: ~75–100 m based on trench geometry and geophysical interpretation.
• Strategic Advantage: Proximity to Jaguar’s existing processing plant reduces logistics costs and supports a faster path to production if the deposit proves viable.
• Future Plans: Accelerated drilling campaign slated for later 2025 to test depth, continuity, and grade of the identified zones; results will inform development planning for a potential open‑pit mine.
• Qualified Person: Armando José Massucatto, PhD, FAusIMM, Exploration Manager (NI 43‑101 qualified).

Notable Quotes

“The results at Chamé represent an important step for Jaguar… the consistent, broad gold mineralization observed to date highlights the potential for an open‑pittable deposit…” – Luis Albano Tondo, CEO.

“Chamé represents an important development in our understanding of gold mineralization along the São Vicente Lineament… broader, potentially high‑volume gold deposits with significant disseminated mineralization.” – Armando Massucatto, Exploration Manager.