Jaguar Mining Delivers Strong Second Quarter 2026 Results Reflecting Increased Production at the Turmalina Mine, Minas Gerais, Brazil

– Production Also Remains Strong at the Pilar Mine

TORONTO, ON / ACCESS Newswire / August 13, 2026 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG)(OTCQX:JAGGF) is pleased to report its financial and operational results for the second quarter ended June 30, 2026. With the increased production at the Turmalina Mine during its regulated ramp-up phase, in addition to anticipated production at the Pilar Mine, the Company achieved an increase in profitability supported by higher realized gold prices, partially offset by increased development activity expenditures.

The interim condensed consolidated financial statements for the quarter ended June 30, 2026 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 2026 Highlights

• Adjusted Earnings Growth: Delivered Adjusted Net Income[1] of $17.4 million ($0.20 per share), compared to $10.3 million ($0.12 per share) in the previous quarter and $16.3 million ($0.21 per share) in Q2 2025, demonstrating strong underlying profitability in an elevated gold price environment. Net income for the quarter was $15.5 million ($0.18 per share), compared to a net loss of $6.6 million in Q2 2025.

• Adjusted EBITDA¹: Adjusted EBITDA of $30.7 million ($0.36 per share) was 4% higher than the $29.6 million recorded in Q2 2025, while EBITDA rose to $27.8 million from a loss of $0.7 million in the prior-year quarter as the Satinoco event charges that weighed on 2025 did not recur.

• Revenue Growth: Revenue increased 43% to $51.4 million, compared to $35.8 million in Q2 2025, primarily driven by a 35% increase in the average realized gold price¹ to $4,391 per ounce, together with a 6% increase in gold ounces sold to 11,694 ounces following the resumption of operations at the MTL Mining Complex (the "MTL Complex").

• Production Increase: Consolidated gold production totalled 13,057 ounces (Q1 2026 - 9,630 ounces), comprising 9,063 ounces from the Pilar Mine and 3,994 ounces from the Turmalina Mine. This represents a 19% increase compared to the 10,973 ounces produced in Q2 2025, when production comprised 10,731 ounces from the Pilar Mine and 242 ounces from a metallurgical test of the Faina orebody (within the Turmalina Mine). Consolidated ore processed increased 58% to 146,210 tonnes at an average head grade of 3.17 g/t Au. Pilar processed 96,020 tonnes at 3.30 g/t Au with an 89% recovery rate, while Turmalina processed 50,190 tonnes at 2.94 g/t Au with an 84% recovery rate, contributing approximately 31% of consolidated production.

• Free Cash Flow¹: The Company generated $6.6 million in free cash flow¹ ($562 per ounce sold), increasing its cash position to $74.0 million. Working capital¹ was $23.2 million, compared to $21.8 million at December 31, 2025. This liquidity supports the self-funding of the 2026 exploration program, the ongoing dewatering and underground rehabilitation work at the Santa Isabel Mine, and the advancement of environmental licensing at the Onças de Pitangui development project.

• Normalized Cost Profile: Cash operating costs were $21.4 million ($1,834/oz). All-in sustaining costs¹ were $2,840 per ounce. The quarter included a $0.8 million net recovery recorded in the final stages of the Satinoco event restoration, and the Company's core operating margins remain healthy, with a cash operating margin of $2,557 per ounce and an all-in sustaining margin of $1,551 per ounce.

• Exploration Momentum: Definition, infill and exploration drilling (11,203 metres) continued at pace, with a continuous flow of assay results from the Chamé target and other high-priority targets as well as from the directional drilling at the Pilar Mine, reinforcing the Company's strategy to convert its promising gold endowment into Mineral Reserves. Proven and Probable Mineral Reserves increased 12% to 858,000 ounces (6,861 kt at 3.89 g/t Au) as at December 31, 2025, net of mining depletion, with Pilar 2P Reserves up 49% to 286,000 ounces (2,494 kt at 3.57 g/t Au), while Measured and Indicated Mineral Resources as at December 31, 2025 increased 8% to 1,797,000 ounces (13,575 kt at 4.12 g/t Au) and Inferred Mineral Resources increased 2% to 1,709,000 ounces (14,732 kt at 3.61 g/t Au)[2].

2026 Guidance

For the full year 2026, Jaguar projects gold production in the range of 50,000 to 60,000 ounces from its current assets.

Growth Projects and Exploration

• MTL Complex: Following regulatory approval from the Environmental Emergency Office on March 9, 2026 to resume operations at the MTL Complex, the Turmalina Mine, processing plant, paste fill plant and filtration unit have been ramping up towards planned production levels.

• Santa Isabel: Dewatering, underground rehabilitation, drift development and an underground diamond drilling program are advancing at the Santa Isabel Mine, to be followed by a formal NI 43-101 technical report to be published in 2027. The Paciência Mining Complex holds Inferred Resources of 189,000 ounces at 4.14 g/t Au.

• Paciência Gold District: The Company's drilling campaign totalled 3,763 metres over 17 holes (8 holes / 2,245 metres at Chamé and 9 holes / 1,518 metres at Santa Isabel and Marzagão), confirming a mineralized corridor of approximately 15 kilometres linking Chamé, Santa Isabel, Marzagão and Bahú, which will be followed up by more exploration drilling going forward.

• Onças de Pitangui: Environmental licensing continues to advance for the Onças de Pitangui development project with the third and final round of Q&A promoted by the authorities ongoing. As soon as the Installation Licence is received, the Company plans to start project construction.

"Turmalina's ramp-up and continued strong performance at Pilar came together this quarter to drive higher production, revenue and cash flow, while our balance sheet remained solid to fund the exploration program, the Santa Isabel Mine rehabilitation work, and licensing progress at the Onças de Pitangui development project," commented Luis Albano Tondo, CEO of Jaguar Mining. "Our priority for the rest of the year is straightforward: keep executing on production and costs while advancing the drilling that will tell us how much of our land package can add to our reserve base."

Second Quarter 2026 Results

Non-GAAP performance measures

The Company has included the following Non-GAAP performance measures in this news release: 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, 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 and Non-Sustaining Capital expenditures¹

Reconciliation of Free Cash Flow¹