Jaguar Mining Inc. Announces Closing of Bought Deal Private Placement for Gross Proceeds of C$28.0 Million

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TORONTO, ON / ACCESS Newswire / October 15, 2025 / Jaguar Mining Inc. ("Jaguar" or the Company") (TSX:JAG) today announced the closing of its previously announced "bought deal" private placement (the "Offering") for aggregate gross proceeds of C$28,000,005, which includes the full exercise of the Underwriters' (as defined below) option. Pursuant to the Offering, the Company sold 5,090,910 common shares in the capital of the Company (the "Offered Shares") at a price of C$5.50 per Offered Share. Red Cloud Securities Inc. ("Red Cloud") acted as lead underwriter and bookrunner on behalf of a syndicate of underwriters that included Research Capital Corporation and Ventum Financial Corp. (collectively with Red Cloud, the "Underwriters").

The Company intends to use the net proceeds of the Offering to fund the restart of the Turmalina Mine at the Company's MTL Complex, exploration activities across the Company's properties, as well as general working capital and corporate purposes, as is more fully described in the Offering Document (as defined below).

In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), 3,272,728 Offered Shares were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"), and to purchasers resident in jurisdictions other than Canada pursuant to available prospectus exemptions. Except for the Offered Shares acquired by Eric Sprott, the Offered Shares issued to purchasers are not subject to a statutory hold period in accordance with applicable Canadian securities laws and are immediately freely tradeable.

Eric Sprott, a related party of the Company, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 1,818,182 Offered Shares under the Offering for aggregate gross proceeds to the Company of $10,000,001.00. The participation of 2176423 Ontario Ltd. in the Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-01 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 since neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Offering, insofar as it involves interested parties, exceeds 25% of the Company's market capitalization. No new insiders and no control persons were created in connection with the completion of the Offering.

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