TORONTO, ON / ACCESS Newswire / May 13, 2026 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG)(OTCQX:JAGGF) is pleased to report its financial and operational results for the first quarter ended March 31, 2026. The Company achieved a significant turnaround in profitability, driven by record gold prices and a consistent performance at the Pilar Mine, while successfully navigating the regulated restart of the MTL Complex (Turmalina).

The interim condensed consolidated financial statements for the quarter ended March 31, 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.

First Quarter 2026 Highlights

• Adjusted Earnings Growth: Delivered Adjusted Net Income¹ of $10.3 million ($0.12 per share), demonstrating strong underlying profitability in a record gold price environment. Net income for the quarter was $4.7 million, overcoming non-recurring restoration costs and non-cash foreign exchange fluctuations.

• Revenue Surge: Revenue increased 63% to $44.6 million, compared to $27.3 million in Q1 2025, supported by a 71% increase in the average realized gold price¹ to $4,875 per ounce.

• Strategic Production Restart: Consolidated gold production totaled 9,630 ounces. This includes a consistent performance from the Pilar Mine (8,776 oz) and the successful initial 22 days of production from the MTL Complex restart (854 oz), which provides a foundation for the planned production ramp-up throughout the remainder of 2026.

• Robust Free Cash Flow¹: The Company generated $10.1 million in Free Cash Flow¹ ($1,104 per ounce sold), further strengthening its cash position to $71.2 million. This liquidity supports the self-funding of the 2026 exploration program and the upcoming Santa Isabel mine restart.

• Normalized Cost Profile: Cash operating costs were $14.3 million ($1,565/oz). All-in sustaining costs¹ (AISC) were $2,412 per ounce. Excluding one-time expenses related to the final stages of the Satinoco event restoration ($5.9 million), the Company's core operating margins remain exceptionally healthy.

• Exploration Momentum: Exploration drilling (6,018 meters) continued at pace, albeit with assay results pending at the Chamé target, reinforcing the Company's strategy to convert its promising gold endowment into Mineral Reserves, which have already increased 12% to 858,000² ounces.

Luis Albano Tondo, CEO of Jaguar stated: "Jaguar has entered 2026 with a clear focus on operational excellence and balance sheet strength. Generating $10 million in free cash flow this quarter allowed us to self-fund critical exploration and the restart of our Turmalina operations. As we progress through the year, our focus remains on scaling production, managing our cost profile as restoration activities conclude, and converting our significant gold endowment into sustainable production growth."

First Quarter 2026 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 and Non-Sustaining Capital expenditures¹

Reconciliation of Free Cash Flow¹

Reconciliation of Cash Operating Costs, All-In Sustaining Costs and All-In Costs per Ounce Sold¹

Reconciliation of Net Income to EBITDA and Adjusted EBITDA¹