Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) is pleased to announce the first results from step-out drilling along the Panteon North/VTEM geophysical corridor within the Limon Mine Complex. These new intercepts are from drilling designed to test the multi-kilometre long structure identified by our 2022 VTEM geophysical survey first released on June 27, 2022 (see news release here). Today’s results are located approximately 2.5 kilometres north of Panteon North which has had numerous bonanza grade gold intercepts to date as evidenced in our most recent press release here. Panteon North is expected to contribute positively to the Company’s 2022 Resource and Reserve statement expected in Q1, 2023.

Initial Drilling Results along the Panteon/VTEM Corridor include:

• 11.61 g/t Au over 9.3 metres Estimated True Width including 23.93 g/t Au over 1.7 metres ETW, and 15.34 g/t Au over 3.9 metres ETW in Hole LIM-22-4701;
• 6.73 g/t Au over 2.1 metres ETW in Hole LIM-22-4689;
• 3.67 g/t Au over 2.6 metres ETW including 11.10 g/t Au over 0.7 metres ETW in Hole LIM-22-4684.

Darren Hall, President and Chief Executive Officer of Calibre, stated: “Our 2022 drilling campaign has been very successful, with the discovery of the high-grade Panteon North gold shoot which hosts numerous bonanza grade gold intercepts over hundreds of metres of strike length. First pass, wide spaced drilling approximately 2.5 kilometres north of Panteon North along the VTEM geophysical corridor has now discovered another new high-grade gold zone which stretches over an initial 1.5-kilometre trend (see figures). The VTEM survey, first released on June 27, 2022 (see news release here) has proven to be an excellent tool for targeting zones of high-grade gold mineralization along multiple kilometers of strike from Panteon North. Discovery drilling is underway with four diamond drill rigs along the corridor.”

Link 1 – Figures

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.