TSX: JAG
TORONTO, May 31, 2018 /CNW/ - Jaguar Mining Inc. ("Jaguar"
or the "Company") (TSX: JAG) announced the following update on the impact of a nationwide Truck Drivers' strike on the
Company's operations located in Brazil. Over the past few weeks, the strike has resulted in
delayed delivery of fuel and other critical mining consumables needed to sustain normal course mining activities. In light of the
ongoing delays in the delivery of these critical materials, and to maintain the integrity of key safety measures in place across
all operations, the Company is significantly scaling back its underground mining activities at Pilar and Turmalina Gold mines.
Gold processing facilities will remain operational, while equipment maintenance and administrative oversight activities at both
sites will continue.
The Company continues to maintain sufficient level of working capital to meet its financial obligations. The Company will
continue to monitor the status of the strike and provide an update on the resumption of full production of the underground mining
operations once availability and the supply chain for mining consumables returns to normal levels. The impact on the
Company's production guidance will be assessed at the time of re-start.
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking statements and information are provided for the purpose of providing information about
management's expectations and plans relating to the future. All of the forward-looking information set forth in this news release
is qualified by the cautionary statements below and those made in our other filings with the securities regulators in
Canada. Forward-looking information contained in forward-looking statements can be identified by
the use of words such as "are expected", "is forecast", "is targeted," "approximately," "plans," "anticipates," "projects,"
"continue," "estimate," "believe," or variations of such words and phrases or statements that certain actions, events or results
"may," "could," "would," "might," or "will" be taken, occur or be achieved. All statements, other than statements of historical
fact, may be considered to be or include forward-looking information. These forward-looking statements are made as of the date of
this news release and the dates of technical reports, as applicable. This news release contains forward-looking information
regarding potential and, among other things, expected future mineral resources, potential mineral production opportunities,
geological and mineral exploration statistics, ore grades, current and expected future assay results, and
definition/delineation/exploration drilling at the Pilar Gold Mine and the Turmalina Gold Mine in Brazil, as well as forward-looking information regarding costs of production, capital expenditures, costs
and timing of the development of projects and new deposits, success of exploration, development and mining activities, capital
requirements, project studies, mine life extensions, and continuous improvement initiatives. The Company has made numerous
assumptions with respect to forward-looking information contained herein, including, among other things, assumptions about the
estimated timeline and for the development of the drill program at the Pilar Gold Mine (and its expanded exploration footprint)
and the Turmalina Gold Mine; its mineral properties; the supply and demand for, and the level and volatility of the price of,
gold; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based;
the receipt of necessary permits; market competition; ongoing relations with employees and impacted communities; and political
and legal developments in any jurisdiction in which the Company operates being consistent with its current expectations
including, without limitation, the impact of any potential power rationing, tailings facility regulation, exploration and mine
operating licenses and permits being obtained and renewed and/or there being adverse amendments to mining or other laws in
Brazil and any changes to general business and economic conditions. Forward-looking information
involves a number of known and unknown risks and uncertainties, including among others: the risk of Jaguar not meeting its plans
regarding its operations and financial performance; uncertainties with respect to the price of gold, labor disruptions,
mechanical failures, increase in costs, environmental compliance and change in environmental legislation and regulation, weather
delays and increased costs or production delays due to natural disasters, power disruptions, procurement and delivery of parts
and supplies to the operations; uncertainties inherent to capital markets in general (including the sometimes volatile valuation
of securities and an uncertain ability to raise new capital) and other risks inherent to the gold exploration, development and
production industry, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company and
described herein. In addition, there are risks and hazards associated with the business of gold exploration, development, mining
and production, including without limitation environmental hazards, tailings dam failures, industrial accidents and workplace
safety problems, unusual or unexpected geological formations, pressures, cave-ins, flooding, chemical spills, and gold bullion
thefts and losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Although we
have attempted to identify important factors that could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking information.
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SOURCE Jaguar Mining Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2018/31/c5661.html