Jaguar Mining Reports First Quarter 2019 Financial and Operating Results.


TORONTO: Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) today announced financial and operating results for the three months ("Q1 2019") and ended March 31, 2019. Detailed financial results for Q1 2019 are available on and on the Company's website All figures are in US dollars, unless otherwise expressed.

Q1 2019 Operating Summary

Consolidated gold production of 16,365 ounces (160,600 tonnes milled, average grade of 3.59 g/t) declined 13% compared to 18,865 in Q1 2018

Pilar mine gold production declined 7% to 8,840 ounces compared to 9,553 ounces in Q1 2018

Turmalina mine gold production declined 11% to 7,525 ounces compared to 8,442 ounce in Q1 2018

Primary development increased 9% to 1,161 m

Sustaining capital expenditures of $7.1 million invested in mining equipment and development

Q1 2019 Financial Results Summary

Gross profit of $3.2 million includes impact of a 5% decrease in operating expenses year-over-year

Consolidated Cash operating costs ("COC") increased 9% to $870 per ounce. Lower gold production was partially offset by lower operating expenditures.

Consolidated all-in sustaining costs ("AISC") increased 11% to $1,428 per ounce

Operating cash flow of $2.5 million; adjusted EBITDA of $3.6 million

Net loss of $1.8 million, or net loss per share of $0.01

Completed a secured bridge facility ("Facility") for $7.85 million with Auramet which expires on July 15, 2019.

Cash balance of approximately $7.9 million as of March 31, 2019 compared to a cash balance of $6.3 million at December 31, 2018

"First quarter results reflect lower production levels from both Turmalina and Pilar. Operational delays related to slot raises, geotechnical issues and lack of flexibility at Turmalina resulted in lower tonnes milled of 65,000kt. We continue to focus on executing a turnaround plan at Turmalina that will address operational challenges faced during the quarter.

"With new production panels in Orebody A and Orebody C-SE planned to start in late 2019, we expect to see increasing production and mining flexibility along with increasing developed reserves. Exploration success in the Orebody C-Central will provide a third production area in 2020 that will increase production capability. Geotechnical issues will be managed with systematic stope sequencing, paste fill, and stope designs that match geotechnical conditions. Mine working hours increased due to implementing a four shift per day schedule in...

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