Jaguar Mining Inc. announced its annual Mineral Reserves and Mineral Resources (MRMR) statement for 2023. Proven and Probable (2P) Mineral Reserves and Measured, Indicated and Inferred Mineral Resources figures are reported for Jaguar's two operating mining and production complexes, Turmalina and Caete, and for the Paciencia Complex, currently on care and maintenance. The Turmalina Complex is comprised of the Turmalina mine, the Faina and Oncas de Pitangui growth projects as well as the Zona Basal and Pontal deposits.

Consolidated Inferred Mineral Resources increased by 41% to 1,628 koz, (14,175 kt @ 3.58 g/t Au), driven by the addition of inferred mineral resources from the Oncas de Pitangui project. Oncas de Pitangui Inferred Mineral Resources added 379 koz, (3,343 kt @ 3.53 g/t Au) to the Company's inventory. Life of Mine (LOM) plans at the Pilar operation forecast production at current rates into 2028.

At the Turmalina Complex, with Faina ramping up from this year through 2026, the LOM extends at increased production rates beyond 2030. The Company continues to progress project work required to support the publication of initial mineral reserves for the Oncas de Pitangua project (current Indicated and inferred mineral resource at Sao Sebastiao) in the fourth quarter of 2024. A net increase of 4% in Mineral Reserves along with the material increases in Mineral Resources is a very positive driver underpinning the long-term future of the company.

Mineral Resources at the Santa Isabel and the Marzagao deposits include drill hole information current as of September 2022. Mineral Resources at the Bahu deposit include drill hole information current as the Pilar deposit include drill hole information current As of July 25, 2023. Mineral Resources at the Roca Grande deposit include drill hole information currentAs of December 31, 2018.

The Mineral Resources are inclusive of Mineral Reserves. For those portions of the Mineral Resources that comprise the Mineral Reserve, stope design wireframes were used to constrain the Mineral Resource reports. The Iron Quadrangle.

These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. This news release contains forward-looking information regarding potential and, among other things, expected future mineral resources, potential mineral production opportunities, geological and mineral exploration statistics, ore grades, current and expected future assay results, and definition/delineation/exploration drilling at the Pilar Gold Mine and the Turmalina Gold Mine in Brazil, as well as forward-looking information regarding costs of production, capital expenditures, costs and timing of the development of projects and new deposits, success of exploration, development and mining activities, capital requirements, project studies, mine life extensions, and continuous improvement initiatives. The Company has made numerous assumptions with respect to forward-looking information contained herein, including, among other things, assumptions about the estimated timeline and for the development of the drill program at the Pilar Gold Mine (and its expanded exploration footprint) and the Turmalina Gold mine; its mineral properties; the supply and demand for, and the level and volatility of the price of, gold; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; the receipt of necessary permits; market competition; ongoing relations with employees and impacted communities; and political and legal developments in any jurisdiction in which the Company operates being consistent with its current expectations including, without limitation, the impact of any potential power rationing, tailings facility regulation, exploration and mine operating licenses and permits being obtained and renewed and/or there being adverse amendments to mining or other laws in Brazil and any changes to general business and economic conditions.