Jaguar Mining Inc. Reports First Quarter 2026 Operating Results

Q1 2026 Operating Results Summary

• Production: Total gold production for Q1 2026 was 9,630 ounces (8,776 oz from Pilar Mine; 854 oz from MTL Complex).
• Comparison: Slightly below Q1 2025 production of 9,924 oz, primarily due to the Turmalina suspension in early 2025.
• Operational Status: Successfully resumed operations at the Turmalina Complex (MTL) on March 9, 2026, following regulatory clearance.
• Financials: Closing cash as of March 31, 2026, was $72.1 million with net cash of $65.3 million.
• Guidance: Maintained 2026 production guidance targeting between 50,000 and 60,000 ounces of gold.
• Drilling: Total diamond drilling completed was 6,018 metres (an 11% increase over Q1 2025).

Execution of Restart Plan

• The Q1 results confirm the successful execution of the restart plan announced in January and February 2026. The Turmalina Complex is now contributing to production (854 oz), validating the regulatory approvals received earlier in the year.
• While total ounces are slightly below Q1 2025, this is consistent with expectations given the operational suspension during that period last year and the March restart date for Turmalina.
• The maintenance of the 50,000-60,000 oz guidance indicates management confidence in achieving full-year targets despite the ramp-up phase at Turmalina.

Corporate Profile

• Jaguar Mining Inc. is a Canadian-based gold mining company focused on assets in Brazil's Iron Quadrangle.
• Land Position: Holds over 46,000 hectares in the region, one of the largest land packages in the area.