Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) is pleased to announce operating results for the three and six months ended June 30, 2023 (all amounts are expressed in U.S. dollars).

Q2 and Year to Date 2023 Highlights

• Record consolidated quarterly gold production of 68,776 ounces
  • 15% increase in gold production compared to Q2 2022 (59,723 ounces)
  • Nicaragua gold production of 58,392 ounces and Nevada gold production of 10,384 ounces
• Record consolidated YTD gold production of 134,526 ounces
  • 20% increase in gold production compared to YTD 2022 (111,621 ounces)
  • Remain well on track to deliver full year guidance of 250,000 – 275,000 ounces
• Cash increased 32% to $77 million over Q1 2023
• Successfully and safely delivered expanded production capacity with a fourth new open pit mine in three years with ore deliveries from the Eastern Borosi mine to the Libertad mill;
• High-grade drill results within the Eastern Borosi District reinforce the potential for discovery and expansion;
• Consistent, broad width gold mineralization confirmed at Golden Eagle, USA;
• Initial drilling yielded high-grade results from the past producing Talavera deposit within the Limon Mine Complex, reaffirming the Company’s overall resource expansion and discovery potential;
• Near-mine and higher-grade drilling of the Palomino target at Pan Gold mine points to expansion potential;
• Published 2022 Sustainability Report demonstrating commitment to responsible mining business practices.

Darren Hall, President & Chief Executive Officer of Calibre, stated: “The team delivered another record quarter, with production of 68,776 ounces being ahead of budget, and positioning the Company well to deliver our full year production guidance of 250,000 – 275,000 ounces. Importantly, we generated strong free cash flow, increasing the Company’s cash balance 32% over Q1 2023 to $77 million.

During the quarter we announced numerous positive exploration results. Given our demonstrated ability to convert discovery into production, I expect our investment will continue to result in additional shareholder value as we leverage the significant surplus capacity available at the Libertad processing facility.

During the quarter we published our 2022 Sustainability report outlining our progress and achievements as we reaffirm our commitment to transparency, accountability, and responsible mining and business practices.

We believe Calibre continues to present a compelling investment opportunity as we responsibly self-fund discovery and resource expansion, grow production, build reserves, whilst concurrently building cash.”

Qualified Person

Darren Hall, MAusIMM, President and Chief Executive Officer, of Calibre Mining Corp. is a “qualified person” as set out under NI 43-101 and has reviewed and approved the scientific and technical information in this press release.

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.