CALIBRE COMMENCES MINING AT ITS HIGH-GRADE 6.8 G/T GOLD EASTERN BOROSI OPEN PIT

VANCOUVER, British Columbia, April 18, 2023 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") is pleased to announce that mining commenced at its 100% owned, new high-grade Eastern Borosi open pit mine operation.

Darren Hall, President and Chief Executive Officer of Calibre, stated : “Mining from the Guapinol open pit at Eastern Borosi commenced on schedule and marks another significant milestone in Calibre’s efforts to deliver on expectations and organically grow gold production. With Eastern Borosi open pit reserves at Guapinol of 6.8 g/t gold, we remain on track to deliver consolidated production of 250,000 – 275,000 ounces in 2023, a 20% increase over 2022. After inclusion of this additional high-grade ore, over one million tonnes of surplus processing capacity remains at our Libertad mill, demonstrating the potential for additional future growth.

“Our success in developing and mining at Eastern Borosi is due, in large part, to our positive stakeholder engagement and focus on sustainability, contributing to tangible improvements in the quality of life of our host communities in the region. To date, 43% of the population around our Eastern Borosi operation has benefited directly from vocational training initiatives, procurement opportunities or employment.

“As part of our 2023 exploration program, Calibre has two rigs drilling within the 176 km 2 Eastern Borosi land package, which hosts numerous low sulphidation gold-silver vein deposits and targets and strong potential for discovery of new zones and expanded resources.”

ON BEHALF OF THE BOARD

"Darren Hall"

Darren Hall, President, and Chief Executive Officer

For further information, please contact:

Ryan King

Senior Vice President, Corporate Development & IR

T: (604) 628-1012

E: [email protected]

W: www.calibremining.com

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.

Source :  https://www.calibremining.com/news/calibre-commences-mining-at-its-high-grade-6-8-g-t-5386/