Jaguar Mining Reports Confirmed Continuity of Mineralization at Pilar Gold Mine – Life of Mine Extension Drilling to Follow – Yahoo Finance

Drilling Highlights include:

104.72* g/t Au over an estimated true width of 2.8m

15.77 g/t Au over an estimated true width of 3.2m

9.53 g/t Au over an estimated true width of 7.5m

(*uncut)

TORONTO, ON / ACCESSWIRE / September 13, 2022 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG; OTCQX:JAGGF) is pleased to announce results from recent in-mine diamond drilling and plans for deep drilling which will target additional Life of Mine Mineral Reserves and Mineral Resources at its Pilar Mine Complex, located in the Iron Quadrangle in the state of Minas Gerais, Brazil.

In-mine diamond drilling at Pilar in 2022 has targeted extensions to the mines principle and subordinate mineralized structures which are accessible from current mine development throughout the mine, and importantly, down plunge extensions to depth beyond current production areas below level 13. Drilling at shallow levels is aimed at adding production areas while deeper drilling is primarily aimed at adding to the Life of Mine and will inform long-term capital planning.

Drill intersections show results consistent with the mines current published Mineral Reserve and Mineral Resource in terms of both grade and width and include several important intersections with a grade x thickness (GT) greater than 20 (please refer to Table 1 and Figure 1). Mining development and drilling in the lowermost levels of the mine continue to demonstrate consistency in the ounces per vertical metre profile of > 2000 Oz/ Vm and in the case of Level 15 show an increase in Oz/Vm to around 2500 Oz/Vm.

A directional drilling program is planned to start in Q3 2022 which will target the projected depth extensions located down plunge of the principle mineralized structures. Drilling will target mineralization below level 17 down to level 25, representing a vertical interval of approximately 400m.

Vern Baker, President, and CEO of Jaguar Mining stated: "Drilling and development at Pilar Mine has validated our expectation of continuing economic mineralization at depth. Our drilling on level 15 (currently being developed) has indicated that the ounce per vertical meter mineral resource has increased in comparison to the level 12 mineral resource. This and good intercepts below level 15 indicating continuity of economic mineralization have us encouraged to initiate a deeper drill program which can extend our resources to depth by multiple hundreds of vertical meters. Over the next year we expect to develop the next two levels (16 and 17) while building the resource base to go significantly deeper. Having some intersections with excellent grade and one very anomalous grade intercept have brought excitement to our team working on this resource extension."

Story continues

Figure 1 - Pilar Mine Long Section showing 2022 drilling intersections with grade x thickness (GT) > 20

Jaguar Mining Inc., Tuesday, September 13, 2022, Press release picture

TABLE 1

Pilar Mine 2022 drilling intersections with grade x thickness (GT) > 20

PPL1003

114.60

129.70

15.10

10.00

3.34

33.40

LFW

216.00

232.00

16.00

7.90

4.89

38.63

BF/BFIII?

202.50

228.25

25.75

7.50

9.53

71.48

BF

239.25

262.30

23.05

7.30

4.58

33.43

BF

282.25

290.00

7.75

4.50

5.64

25.38

BF

294.35

307.25

12.90

5.80

6.80

39.44

BF

PPL970

42.95

50.50

7.55

2.30

12.89

29.65

BF

PPL818

89.00

97.00

8.00

2.20

12.11

26.64

TORRE

PPL1012

176.30

182.05

5.75

3.00

8.84

26.52

LFW

PPL956

103.30

121.55

18.25

6.50

10.53

68.45

BF

FSB870

10.45

33.00

22.55

6.05

10.73

64.92

BF

PPL902

155.00

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Jaguar Mining Reports Confirmed Continuity of Mineralization at Pilar Gold Mine - Life of Mine Extension Drilling to Follow - Yahoo Finance