Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) is pleased to report additional high-grade drill results from its Panteon North zone within the Limon Mine Complex, part of the Company’s 85,000 metre resource expansion and discovery drilling program. High-grade mineralization now extends across a strike length of nearly 400 metres with consistent, plus 15 gram per tonne drill intercepts over broad, minable widths. Given a recent VTEM survey, click here for details, which has identified two, parallel five km potential mineralized corridors, the strong correlation to the high/low resistivity contact demonstrated in the recent drilling and historical mining zones Calibre has four rigs testing along strike and down plunge expansion potential.

Additional High Grade Drill Result Highlights from Panteon North

• 52.59 g/t Au over 3.8 metres Estimated True Width, including 94.70 g/t Au over 1.1 metres; and 10.28 g/t Au over 2.1 metres ETW, including 16.50 g/t Au over 1.7 metres in Hole LIM-22-4662;
• 43.09 g/t Au over 3.3 metres ETW, including 155.10 g/t Au over 0.9 metres in Hole LIM-22-4647;
• 35.18 g/t Au over 2.8 metres ETW, including 58.00 g/t Au over 1.5 metres in Hole LIM-22-4653;
• 26.02 g/t Au over 8.1 metres ETW, including 41.30 g/t Au over 4.6 metres in Hole LIM-22-4665;
• 18.49 g/t Au over 1.1 metres ETW, including 49.30 g/t Au over 0.4 metres in Hole LIM-22-4654;
• 13.14 g/t Au over 3.1 metres ETW, including 49.10 g/t Au over 0.4 metres in Hole LIM-22-4651.

Tom Gallo, Senior Vice President, Growth at Calibre, stated: “This is a paradigm shifting discovery for us with consistent high-grade mineralization demonstrated over considerable strike length coupled with VTEM giving strong indications there is potential to expand and discover additional zones. Drilling is underway to extend this mineralized zone to depth with visual indicators having shown positive signs. Given the grade, we expect a substantial, positive impact made to our mineral resource statement.”

Darren Hall, President and Chief Executive Officer of Calibre, stated: “The discovery of bonanza grade at Panteon North was first announced May 16, 2022 (see news release here) then June 27, 2022 (see news release here) and we have subsequently expanded the zone. Drilling continues to intercept consistent, extremely high-grade gold mineralization across approximately 400 metres of strike. The deepest results to date are situated only 250 metres from surface with new drill intercepts pending assays as deep as 450 metres from surface. These drill results, in combination with the successful VTEM campaign, reinforce our grade driven production growth as the high-grade Panteon North discovery is not included in our recent multi-year production outlook (see news release dated June 22, 2022).”

Additional high-grade results announced since discovery in May of this year include;

• 66.03 g/t Au over 5.6 metres Estimated True Width, including 167.27 g/t Au over 2.3 metres and 14.95 g/t Au over 1.9 metres ETW in Hole LIM-22-4630;
• 30.33 g/t Au over 5.0 metres ETW, including 40.62 g/t Au over 3.8 metres in Hole LIM-22-4628;
• 22.55 g/t Au over 4.9 metres ETW, including 68.51 g/t Au over 1.7 metres in Hole LIM-22-4632;
• 17.58 g/t Au over 2.4 metres ETW, including 28.67 g/t Au over 1.9 metres in Hole LIM-22-4627;
• 17.80 g/t Au over 7.3 metres (“ETW”), including 6.69 g/t Au over 1.9 metres, 26.37 g/t Au over 2.8 metres and 16.84 g/t over 3.2 metres in Hole LIM-22-4619;
• 4.66 g/t Au over 1.7 metres ETW, including 8.20 g/t Au over 0.8 metres in Hole LIM-22-4637
• 9.72 g/t Au over 3.9 metres ETW, including 27.80 g/t Au over 1.4 metres in Hole LIM-22-4616;
• 8.84 g/t Au over 1.1 metres ETW, including 20.30 g/t over 0.6 metres in Hole LIM-22-4620;
• 12.75 g/t Au over 2.4 metres ETW, including 33.70 g/t Au over 1.0 metres in Hole LIM-22-4622; and
• 9.38 g/t Au over 2.7 metres, including 34.50 g/t Au over 0.6 metres in Hole LIM-22-4625.

For full drill results see details in the June 27, 2022 news release here and May 16, 2022 news release here.

The Panteon North discovery is located approximately one kilometre northwest of the high-grade producing Panteon underground mine and approximately three kilometres from the Limon mill site. Panteon North is a new discovery with no resource and reserve classified, the zone remains open down plunge and open to the northwest and potentially beyond to the northeast as outlined along the VTEM resistivity contact which extends for another three kilometres.

Link 1 – Figures

Link 2 – VRIFY Overview

Link 3 – Drilling Tables

Quality Assurance/Quality Control

Calibre maintains a Quality Assurance/Quality Control program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of certified reference standards and blanks, and duplicate check assays. Drill core is halved and shipped in sealed bags to Bureau Veritas in Managua, Nicaragua, an independent analytical services provider with global certifications for Quality Management Systems ISO 9001:2008, Environmental Management: ISO14001 and Safety Management OH SAS 18001 and AS4801. Prior to analysis, samples are prepared at Veritas’ Managua facility and then shipped to its analytical facility in Vancouver, Canada. Gold analyses are routinely performed via fire assay/AA finish methods. For greater precision of high-grade material, samples assaying 10 g/t Au or higher are re-assayed by fire assay with gravimetric finish. Analyses for silver and other elements of interest are performed via Induction Coupled Plasma (ICP)

Estimated True Widths for reported vein intercepts are based on 3D models of the individual veins. Estimates are determined in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and through the midpoint of the drill hole intercept. Percentage based differences between individual ETW’s and down-hole interval lengths will vary between drill holes depending on drill hole inclination, variations in vein strike and dip, and overall geometries of the different vein systems.

Qualified Person

The scientific and technical information contained in this news release was approved by David Schonfeldt P.GEO, Calibre Mining’s Corporate Chief Geologist and a “Qualified Person” under National Instrument 43-101.

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, no debt, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.