Calibre Reports Q1 Financial Results and Remains on Track to Deliver Full Year Guidance as It Advances Construction of the Multi-Million Ounce Valentine Gold Mine, Setting Up For Significant Growth in

VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (Calibre or the Company) announces financial and operating results for the three months ended March 31, 2024 (Q1 2024). Consolidated Q1 2024 filings can be found at www.sedarplus.ca and the Company’s website, www.calibremining.com. All figures are expressed in U.S. dollars unless otherwise stated.

Q1 2024 HIGHLIGHTS

• Completed the acquisition of Marathon Gold to create a high-growth, cash flow focused, mid-tier gold producer in the Americas, including 100% of the Valentine Gold Mine (Valentine) hosting a mineral endowment of 2.7 Moz of Reserves, 3.96 Moz of Measured and Indicated Resources and 1.10 Moz of Inferred Resources1;
• The Valentine exploration program has demonstrated considerable resource expansion and discovery potential with initial drill results southwest of the Leprechaun deposit intersecting high-grade gold outside of reported Mineral Reserves, including 46.53 g/t Au over 5.3 metres;
• Strong progress on Valentine advanced as construction surpasses 64% completion, engineering 98% complete, key senior operating team members employed, engaged a pre commissioning and commissioning team, all major contracts awarded with gold production on track for Q2, 2025;
• The VTEM gold corridor and areas adjacent to the Limon mill including the Pozo Bono open pit deposit, all located within the Limon Mine Complex, continue to reveal bonanza grade mineralization including 111.92 g/t Au over 4.1 metres ETW, indicating that the entire district remains open for expansion and discovery;
• High-grade gold and silver mineralization at Eastern Borosi, including 10.81 g/t Au over 3.4 metres and 1,431.6 g/t Ag over 2.9 metres, reinforce significant mineral endowment and potential for resource expansion;
• Gold sales of 61,778 ounces grossing $129.2 million in revenue at an average realized gold price of $2,092/oz;
• Consolidated Total Cash Costs (TCC)2 of $1,337/oz; Nicaragua $1,316/oz and Nevada $1,512/oz;
• Consolidated All-In Sustaining Costs (AISC)2 of $1,555/oz; Nicaragua $1,471/oz & Nevada $1,576/oz;
• Generated $45.8 million in cash flow from operations, and;
• Cash on hand of approximately $144 million as of April 30, 2024.

Darren Hall, President and Chief Executive Officer of Calibre, stated: Calibre has had an exciting start to the year as we remain on track to achieve our fifth…