Jaguar Mining Announces Management Update

Rhea-AI Summary

Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) announces that Chief Financial Officer Hashim Ahmed will step down to pursue another opportunity. He will remain in the role for several months to support the transition while the company searches for his replacement from both internal and external candidates. CEO Vern Baker expressed gratitude for Ahmed's contributions over the past eight years, particularly in strengthening Jaguar’s balance sheet. Jaguar operates in Brazil with three gold mining complexes and significant exploration potential, notably in the Iron Quadrangle in Minas Gerais.

Positive

• CEO Vern Baker praised Hashim Ahmed's contributions over eight years, highlighting his role in strengthening the company's balance sheet.

Negative

• The departure of a key executive like the CFO may raise concerns about management stability during the transition period.

TORONTO, ON / ACCESSWIRE / February 23, 2023 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG), (OTCQX:JAGGF) today is announcing that the Company's Chief Financial Officer, Hashim Ahmed will be stepping down from his role at the Company to pursue another opportunity. Mr. Ahmed will continue to support Jaguar as CFO in the coming months, and a search for his replacement, which has commenced, will include both internal and external candidates.

Vern Baker, President and CEO of Jaguar Mining stated: "I would like to thank Hashim for his significant contributions to the Company over the past eight years and for his personal support of me over the last three and a half years. Hashim has played a key role in turning around the business and helping us strengthen our balance sheet. On behalf of the Board and the senior leadership team, I wish him well in his next endeavor."

About Jaguar Mining Inc.

Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims. The Company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Grande Mines, and Caeté Plant). The Company also owns the Paciência Gold Mine Complex,which has been on care and maintenance since 2012. Additional information is availableon the Company's website at www.jaguarmining.com.

For further information please contact:

Vernon Baker
Chief Executive Officer Jaguar Mining Inc.
vernon.baker@jaguarmining.com
416-847-1854

SOURCE: Jaguar Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/740425/Jaguar-Mining-Announces-Management-Update

FAQ

Who is the new CFO of Jaguar Mining?

Jaguar Mining has not appointed a new CFO yet; Hashim Ahmed is stepping down, and a search for his replacement has begun.

What impact does Hashim Ahmed's departure have on Jaguar Mining's investors?

The departure of Hashim Ahmed may signal potential management instability, which could influence investor sentiment.

What are Jaguar Mining's main operational assets?

Jaguar Mining's principal operating assets are the Turmalina Gold Mine Complex and Caeté Mining Complex in Brazil.

When did Hashim Ahmed announce his resignation from Jaguar Mining?

Hashim Ahmed announced his resignation on February 23, 2023.

What is the stock symbol for Jaguar Mining?

Jaguar Mining is traded under the stock symbols JAG on TSX and JAGGF on OTCQX.