Jaguar Mining Initiates Share Buyback Program

Jaguar Mining Inc. has received approval from the Toronto Stock Exchange for a normalized share repurchase program. This initiative allows Jaguar to buy back up to 3,965,404 common shares, representing 5% of its shares outstanding as of the notice date to the TSX. Transactions will occur through the TSX or a Canadian alternative trading system from November 27, 2024, to November 26, 2025, unless completed or terminated earlier.

Pollitt & Co. Inc. will manage the buybacks, funded by Jaguar’s working capital. Purchases aim to enhance shareholder value by acquiring shares below intrinsic value and to offset any dilution from future share issues. A daily purchase limit of 19,073 shares applies, with potential for one larger block purchase weekly.

The company emphasizes that the share repurchase reflects confidence in its market undervaluation. Jaguar continues operations in Brazil's Iron Quadrangle, holding significant gold assets.