Vancouver, B.C. – April 4, 2023: Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is
pleased to announce operating results for the three months ended March 31, 2023 (all financial amounts are
expressed in U.S. dollars).
Q1 2023 Highlights
• Consolidated quarterly gold production of 65,750 ounces and gold sales of 65,770 ounces:
o 27% increase in gold production compared to Q1 2022 (51,898 ounces);
o Nicaragua gold production of 54,997 ounces and Nevada gold production of 10,753 ounces;
• Consolidated 2022 Mineral Reserves increased 370%, since acquisition in 2019, to 1,346,000 ounces gold (see
press release dated February 14, 2023):
o Nicaragua Mineral Reserve grade increased 16%, 1,082,000 ounces at a grade of 5.37 g/t gold;
o Nevada Mineral Reserves increased 23% to 264,000 ounces at a grade of 0.37 g/t gold;
• Consolidated 2022 M&I Mineral Resources increased to 4,603,000 ounces gold (see press release dated
February 14, 2023);
• High-grade mining commenced ahead of schedule at Pavon Central open pit averaging a delivery rate 1,000
tonnes per day to the Libertad mill (see press release dated March 15, 2023);
• Continued expansion of the high-grade gold discovery at Panteon North and along the VTEM Gold Corridor
within the Limon Complex (see press release dated March 21, 2023):
o 17.45 g/t Au over 4.1 metres Estimated True Width (“ETW”) including 38.45 g/t Au over 1.8 metres ETW;
o 29.68 g/t Au over 4.3 metres ETW;
o The Panteon North maiden Reserve estimate added 244,000 ounces at 9.4 g/t gold to the Company’s 2022
Mineral Reserve statement (see press release dated February 14, 2023);
• New “Coyote” discovery at the Pan Mine in Nevada indicates the potential for resource expansion to the south
(see press release dated January 17, 2023):
o 1.36 g/t Au over 13.7 metres including 2.78 g/t Au over 4.6 metres;
• Phase 1 drill results from the Golden Eagle Project, located in Washington State, confirm a robust mineral
system with consistent gold grades over broad widths (see press release dated January 24, 2023) :
o 4.30 g/t Au over 92.42 metres including 7.80 g/t Au over 17.3 metres, and 2.90 g/t Au over 195.1 metres;
Darren Hall, President & Chief Executive Officer of Calibre, stated: “I am very pleased with the teams’ first quarter
performance, delivering a record 65,750 ounces. Being above budget at the end of the quarter, with Pavon Central
ahead of schedule and Eastern Borosi on track for production in Q2 we are well positioned to deliver our full year
production guidance of 250,000 – 275,000 ounces.
With numerous drill rigs turning across our entire asset portfolio, our exploration investment continues to yield
exciting results as we expand the high-grade gold discovery at Panteon North and the VTEM Gold Corridor and make
new discoveries at Pan where drilling indicates the strong potential for resource expansion.
2023 will be a transformational year, driven by an organic 20% increase in production, strong free cash flow, and
significant exploration to expand recent high-grade gold discoveries not included in our multi-year, grade driven
production increase strategy.”
Q1 2023 Financial Results and Conference Call Details
First quarter financial results will be released after market close on Monday, May 8, 2023, and management will be
hosting a conference call on Tuesday, May 9 to discuss the results and outlook in more detail.
Date: Tuesday, May 9, 2023
Time: 10:00 a.m. (ET)
Webcast Link: https://edge.media-server.com/mmc/p/77jbhopx
Instructions for obtaining conference call dial-in numbers: