JAGUAR MINING, REVERSE SPLIT 1 FOR 10 2020-08-26

/ August 26, 2020 / Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX:JAG)is pleased to announce that it has filed articles of amendment in order to implement a consolidation (the "Consolidation") of its outstanding common shares (the "Shares") on the basis of one (1) post-Consolidation Share for every ten (10) pre-Consolidation Shares. The Toronto Stock Exchange (the "TSX") has informed the Company that its Shares will commence trading on a post-Consolidation basis at market open on Thursday, August 27, 2020. The Company's name and trading symbol will remain unchanged on the TSX as a consequence of the Consolidation.

Upon completion of the Consolidation, the number of Shares issued and outstanding will be consolidated from 723,502,108 to approximately 72,350,197 on a non-diluted basis, and each shareholder will hold the same percentage of Shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation. The exact number of Shares outstanding after the Consolidation will vary based on the elimination of fractional shares. No fractional Shares will be issued in connection with the Consolidation. Rather, all fractions of post-Consolidation Shares will be rounded down to the nearest whole number.

Non-registered shareholders who hold Shares through a broker or other intermediary will have their positions adjusted by their broker or intermediary, and do not need to take any further action to exchange their pre-Consolidation Shares for post-Consolidation Shares. Letters of transmittal were previously mailed to all registered shareholders holding share certificates with instructions on how to exchange existing share certificate(s) for new share certificate(s) or a Direct Registration Statement (DRS). A letter of transmittal is also available on Jaguar's profile on SEDAR at www.sedar.com.

The Company's new CUSIP number is 47009M889 and its new ISIN number is CA47009M8896.

Update on Quarterly Cash Dividend

The Company also announces that, in light of the foregoing, the record and payable dates of its previously-announced quarterly cash dividend (the "Dividend") are September 3, 2020 and September 17, 2020, respectively. The Company's Board of Directors has declared a dividend of C$0.08 per Share on a post-Consolidation.

The Board of Directors intends to review, among other things, the Company's budget, cash flow forecast and existing market conditions on a quarterly basis in order to determine whether any additional dividends will be declared on Shares for subsequent quarters. The declaration, timing, amount and payment of any future dividends remain at the discretion of the Board of Directors. The Dividend is designated as an eligible dividend for Canadian income tax purposes.

For additional information regarding the Consolidation and the Dividend, please refer to the Company's news release dated August 12, 2020.