Jaguar Mining Reports 49% Increase in Mineral Reserves at Pilar Mine

Jaguar Mining Inc. has announced a 49% increase in mineral reserves at its Pilar Mine in the Iron Quadrangle, Brazil. The updated reserve estimate for the mine now stands at 286,000 ounces, marking a net increase of 94,000 ounces compared to previous figures.

The increase results from successful infill and step-out drilling programs and geological reinterpretation performed in 2025. The improvement is primarily driven by the BA and BFs orebodies, emphasizing continuity and scale within the Pilar mineralized system.

A long-term gold price of $2,500 per ounce was used for reserve estimation. The Pilar Mine demonstrated consistent operational performance in 2025, producing 40,012 ounces of gold with stable recoveries.

The strategic update supports Jaguar's long-term growth strategy while focusing on operational stability, disciplined capital deployment, and sustainability.