VANCOUVER, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announces financial and operating results for the three months and year ended December 31, 2021. Annual Consolidated Financial Statements and the corresponding Management Discussion & Analysis for the year ended December 31, 2021 can be found at www.sedar.com and the Company’s website, www.calibremining.com. All figures are expressed in U.S. dollars.

2021 HIGHLIGHTS

Gold production of 182,755 ounces:
Limon produced 67,352 ounces from 495,668 tonnes of ore at an average grade of 4.69 g/t Au and average recoveries of 89.7%
Libertad produced 115,403 ounces from 1,462,912 tonnes of ore at an average grade of 2.68 g/t Au and average recoveries of 92.8%;
Gold sales of 183,242 ounces (2020 - 135,357 ounces) grossing $328.1 million in revenue (2020 - $242.7 million), resulting in an average realized gold price1 of $1,791/oz (2020 - $1,793/oz);
Announced the acquisition of Fiore Gold in Nevada, which closed in January 2022, creating a diversified, Americas focused, growing, mid-tier gold producer;
Cash of $78.5 million as at December 31, 2021 (pre-transaction); a 47% increase from December 31, 2020;
Generated $105.6 million in cash from operating activities (2020 - $81.3 million);
Net income of $58.2 million, with basic net income per share of $0.17 (2020 - $63.4 million, basic net income per share of $0.19);
Consolidated Total Cash Costs1 and AISC1 of $1,013 and $1,136 per ounce respectively ($878 and $1,043 for 2020 respectively);
Released the Company’s inaugural Sustainability report, available on the Company’s website;
Completed the Pavon Pre-Feasibility study, demonstrating strong exploration potential, and an after-tax NPV of $106 million (at $1,700 Au and a discount of 5%) (full technical report is available on the Company’s website and on www.sedar.com);
Commenced open pit mining at Pavon Norte, and increased daily ore haulage rates to the Libertad mill during the year;
Advanced technical drilling, land purchases, social and environmental activities at the initial resource zones at the Eastern Borosi Project (“EBP”) with permitting commencing in Q1 2022 for open pit and underground operations, leading to expected production growth in the second half of 2023;
Significant exploration results have been announced throughout 2021 resulting from the multi-rig exploration drill programs active across the mine sites and satellite opportunities – most notably the high-grade EBP property, and the high-grade Volcan zone located 5 kilometres from the Libertad mill.
Q4 2021 HIGHLIGHTS

Gold production of 49,218 ounces:
Limon produced 19,599 ounces from 123,330 tonnes of ore at an average grade of 5.59 g/t Au and average recoveries of 89.8%
Libertad produced 29,619 ounces from 456,561 tonnes of ore at an average grade of 2.29 g/t Au and average recoveries of 90.3%;
Gold sales of 49,207 ounces (Q4 2020 – 42,335 ounces) grossing $88.1 million in revenue (Q4 2020 – $79.7 million) which resulted in an average realized gold price1 of $1,791/oz (Q4 2020 - $1,882/oz);
Net income of $14.6 million (Q4 2020: $23.3 million); basic net income per share of $0.04 (Q4 2020: $0.07);
Consolidated Total Cash Costs1 and AISC1 of $1,026 and $1,139 per ounce, respectively ($940 and $1,051 for Q4 2020, respectively);
Darren Hall, President and Chief Executive Officer of Calibre, stated: “The Calibre team delivered another strong quarter to beat the high end of our 2021 production guidance. A solid contribution was delivered from our Pavon open pit deposit, which we permitted, developed, and ramped up production to 1,000 tonnes per day of ore to Libertad mill all within 22 months. Calibre has a compelling value proposition in that we have 2.7 million tonnes of installed processing capacity of which approximately 70% is being utilized. I am very pleased with the significant progress during the year at EBP which I expect to be our next high-grade satellite deposit to feed into our existing infrastructure resulting in 2023 and 2024 production growth. see & read more on
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/523-tsx/cxb/116407-a-strong-finish-to-2021-as-calibre-exceeds-the-high-end-of-gold-production-guidance-with-182-755-ounces-and-closes-fiore-deal-to-expand-into-nevada.html