Continued Intersects Of Shallow Open Pit Mineable Grades And Widths At Volcan Gold Deposit

Continued Intersects Of Shallow Open Pit Mineable Grades And Widths At Volcan Gold Deposit

VANCOUVER – Calibre Mining Corp. reported the exploration and infill drill program at the Volcan Gold Deposit, located approximately five kilometres south of the Libertad mill. Previous results led to the declaration of an initial open pit Mineral Resource Estimate in September of 2023. These new results support advancing toward a mining decision in mid-2024 with permitting ongoing.

Highlights from 2023 Volcan drilling include:

Darren Hall, President and Chief Executive Officer, said, “These drill results at Volcan are encouraging as we aim to expand and confirm the initial open pit Mineral Resource at Volcan. With Volcan having an initial open pit resource averaging 2.0 g/t Au, the 2023 exploration and infill drilling confirms that the deposit can host higher grade, near surface gold mineralization. The Libertad district has produced approximately two million ounces of gold and with consistent exploration Calibre continues to discover new opportunities to expand resources and extend mine life along this highly prospective trend.

Calibre has responsibly demonstrated the value of our hub and spoke operating strategy, with permitting ongoing and Volcan’s proximity to the Libertad mill, we expect the deposit to contribute to the mine plan in the second half of 2024. This reinforces our peer leading “drill to mill” time frame with less than one year separating our initial resource declaration in September of 2023 and anticipated production.”