Jaguar Mining Reports Second Quarter 2025 Financial Results Delivering a Solid Performance from the Pilar Mine

TORONTO, ON / ACCESS Newswire / August 14, 2025 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG)(OTCQX:JAGGF) today filed its second quarter results, the highlights of which are included in this news release. The interim condensed consolidated financial statements for the quarter ended June 30, 2025 and accompanying management's discussion and analysis can be accessed by visiting the Company's website at https://jaguarmining.com or its profile page on SEDAR+ at www.sedarplus.ca . All figures are in US Dollars, unless otherwise expressed.

Second Quarter 2025 Highlights

• Free cash flow ¹ for the quarter was $11.3 million, compared to $15.2 million in the second quarter of 2024. Free cash flow is calculated as operating cash flow plus asset retirement obligation expenditures, less sustaining capital. On a per-ounce bases, free cash flow increased to $1,031 per ounce of gold sold in the second quarter of 2025 compared to $801 per ounce of gold sold in the second quarter of 2024.

Cash position and working capital¹

• As of June 30, 2025, the Company had cash and cash equivalents of $48.3 million, representing a 4.1% increase from $46.4 million as of December 31, 2024 mainly reflecting the impact of higher realized gold prices.

• As of June 30, 2025, working capital was $11.1 million, compared to working capital of $13.7 million as of December 31, 2024.

Luis Albano Tondo, CEO of Jaguar, stated : "The second quarter of 2025 represented a pivotal period for Jaguar, as we continued to operate exclusively from our Pilar mine following the temporary suspension of Turmalina late last year. We were encouraged by Pilar's robust operational performance, driven by higher head grades and ongoing efficiency improvements. While total production was lower year-over-year due to Turmalina's absence, Pilar's output increased by 3% year-over-year and 11% compared to the first quarter of 2025. A significantly higher realized gold price partially offset the impact of lower volumes on our margins. Despite reporting a net loss for the quarter, adjusted net income of $16.8 million-excluding expenses associated with the MTL incident-highlights the strength of Pilar's operating performance. Additionally, strong free cash flow per ounce underlines our ability to generate value, even as a single-asset producer.

Subsequent to the quarter-end, we successfully resolved a significant environmental fine (see press release dated July 14, 2025), marking an important milestone as we advance toward the planned restart of Turmalina, targeted for the first quarter of 2026. We were also pleased to announce further exploration success at Pilar's BA zone (see press release dated August 5, 2025), where recent drilling returned a standout intercept of 12.80 g/t Au over 25.00 meters (320.00 GT - Grade x Thickness), confirming the presence of robust, high-grade mineralization at depth. With the BA zone expected to contribute approximately 50% of Pilar's future production, these results reinforce our confidence in the mine's long-term outlook.

These recent achievements underscore our commitment to disciplined execution, operational excellence, and the creation of sustainable, long-term value. Looking ahead, we remain focused not only on realizing the full potential of our existing assets through organic growth, but also on pursuing select strategic growth opportunities that could further enhance shareholder value and strengthen our position as a leading mid-tier gold producer in Brazil."

^[1] This is a non-GAAP financial performance measure with no standard definition under IFRS. For more details, refer to the Non-GAAP Performance Measures section of the MD&A.

Second Quarter 2025 Results

Non-GAAP Performance Measures

The Company has included the following Non-GAAP performance measures in this document: cash operating costs per ounce of gold sold, all-in sustaining costs per ounce of gold sold, average realized gold price (per ounce of gold sold), sustaining capital expenditures, non-sustaining capital expenditures, adjusted operating cash flow, free cash flow, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA and working capital. These Non-GAAP performance measures do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies.

The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance. Accordingly, they are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. More specifically, Management believes that these figures are a useful indicator to investors and management of a mine's performance as they provide: (i) a measure of the mine's cash margin per ounce, by comparison of the cash operating costs per ounce to the price of gold; (ii) the trend in costs as the mine matures; and (iii) an internal benchmark of performance to allow for comparison against other mines. The definitions of these performance measures and reconciliation of the Non-GAAP measures to reported IFRS measures are outlined below.

Reconciliation of sustaining capital to non-sustaining capital expenditures ¹