Jaguar Mining Comments on the OSC's Allegations Involving the Company's Chairman

Rhea-AI Summary

Jaguar Mining Inc. (TSX:JAG, OTCQX:JAGGF) has commented on allegations from the Ontario Securities Commission concerning its Chairman, William Jeffrey Kennedy, related to a 2017 capital markets transaction. The allegations do not involve any business or activities of Jaguar and the Company is not a respondent in the matter. Jaguar Mining continues to focus on its operations, which include significant gold mining complexes in Brazil, while monitoring the proceedings closely. The Company remains committed to transparency and investor communication.

Positive

• Company is not involved in the OSC allegations, indicating no direct impact on business operations.
• Jaguar Mining has significant gold mining assets in Brazil, enhancing its market position.

Negative

• None.

TORONTO, ON / ACCESSWIRE / December 23, 2022 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG) Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG), (OTCQX:JAGGF) has the following comments about recent allegations concerning the Company's Chairman.

On November 9, 2022, the Ontario Securities Commission ("OSC") issued a Statement of Allegations involving William Jeffrey Kennedy, along with other market participants, regarding a capital markets transaction that occurred in March 2017, approximately 2.5 years prior to Mr. Kennedy joining Jaguar Mining Inc.'s board of directors in September 2019. The full text of the allegations and other documents related to the proceeding can be found on the website of the Capital Markets Tribunal at: https://www.capitalmarketstribunal.ca/en/proceedings/cormark-securities-inc-re.

None of the OSC's allegations involve any business or capital markets activities of Jaguar. Jaguar is not a respondent, and the Company does not expect to be participating in the proceeding. Jaguar will be paying close attention to the proceeding.

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. The Roça Grande Mine has been on temporary care and maintenance since April 2019. Additional information is available on 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

Hashim Ahmed Chief Financial Officer Jaguar Mining Inc. hashim.ahmed@jaguarmining.com 416-847-1854

SOURCE: Jaguar Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/733121/Jaguar-Mining-Comments-on-the-OSCs-Allegations-Involving-the-Companys-Chairman

FAQ

What are the allegations against Jaguar Mining's Chairman?

The allegations involve William Jeffrey Kennedy concerning a 2017 capital markets transaction but do not involve Jaguar Mining's business activities.

Is Jaguar Mining participating in the OSC investigation?

No, Jaguar Mining is not a respondent in the proceedings and does not expect to participate.

What is the stock symbol for Jaguar Mining?

Jaguar Mining trades under the stock symbols TSX:JAG and OTCQX:JAGGF.

Where are Jaguar Mining's operations located?

Jaguar Mining operates primarily in Brazil within significant gold mining complexes.

What is Jaguar Mining's response to the allegations?

Jaguar Mining has stated that it will closely monitor the proceedings but emphasizes that the allegations do not impact its business.