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 in the main gold-shoot will lead to a maiden resource in Q1, 2023.

New High Grade Drill Result Highlights from Panteon North

• 17.80 g/t Au over 7.9 metres Estimated True Width in Hole LIM-22-4694;
• 13.14 g/t Au over 8.4 metres ETW in Hole LIM-22-4659;
• 12.30 g/t Au over 4.4 metres ETW in Hole LIM-22-4672;
• 15.18 g/t Au over 2.9 metres ETW in Hole LIM-22-4671;
• 14.57 g/t Au over 1.9 metres ETW and 16.02 g/t Au over 2.7 metres ETW in Hole LIM-22-4675;
• 16.68 g/t Au over 1.8 metres ETW in Hole LIM-22-4683;
• 10.48 g/t Au over 2.1 metres ETW in Hole LIM-22-4686;
• 12.85 g/t Au over 10.6 metres ETW including 22.47 g/t Au over 4.9 metres ETW in Hole LIM-22-4691;
• 13.87 g/t Au over 2.2 metres ETW including 26.33 g/t Au over 1.1 metres ETW in Hole LIM-22-4697;
• 11.13 g/t Au over 1.1 metres ETW in Hole LIM-22-4699; and
• 5.60 g/t Au over 1.6 metres ETW and 13.18 g/t Au over 5.1 metres ETW including 27.57 g/t Au over 2.3 metres in Hole LIM-22-4703.

Darren Hall, President and Chief Executive Officer of Calibre, stated: “I continue to be very encouraged by the drill program at Panteon North. Since the discovery was announced on May 16, 2022 (see news release here) we have been able to continue to identify bonanza grade mineralization along what is now a well-defined gold-shoot spanning 400 metres along strike and over 200 metres down-dip.

Furthermore, several holes in the Panteon/VTEM geophysical corridor step out drilling, designed to test the structure identified on June 27, 2022 (see news release here) have been completed. With assays pending the multi-kilometre VTEM corridor has excellent potential for additional high-grade discoveries.”

Previously announced high-grade results since discovery in May of this year include:

• 52.09 g/t Au over 3.8 metres ETW, including 95.70 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.

For a complete look at the year-to-date 2022 drill results see details in the news releases dated September 7, 2022, June 27, 2022 and May 16, 2022.

Link 1 – Figure

Link 2 – 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)

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, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.

Note: 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.