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Calibre Advances Valentine Gold Mine Construction to 73% Complete; Maintains Full-Year Production Guidance

Jul 9, 2024 | blog

VANCOUVER, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is happy to announce the working outcomes for the three months (Q2) and 6 months (12 months thus far or YTD) ended June 30, 2024.

Q2 and YTD 2024 Highlights

  • Published the 2023 Sustainability Report, highlighting Calibre’s dedication to environmental, social and governance efficiency;
  • Included within the S&P/TSX Composite Index, reflecting Calibre’s progress and worth era for shareholders;
  • Fully-funded building of the multi-million-ounce Valentine Gold Mine (Valentine) surpasses 73% full:
    • Detailed engineering 98% full;
    • Operations management staff employed;
    • Pre-commissioning planning underway;
    • Tailings Management Facility progressing, embankment liner now 96%;
    • CIL leaching space tanks building nicely underway;
    • Reclaim tunnel and coarse ore stockpile building progressing; and
    • Primary crusher on web site and set up deliberate for July;
  • Consolidated quarterly gold manufacturing of 58,754 ounces:
    • Nicaragua gold manufacturing of 49,208 ounces and Nevada gold manufacturing of 9,546 ounces;
  • Consolidated 12 months thus far gold manufacturing of 120,521 ounces:
    • Nicaragua gold manufacturing of 104,215 ounces and Nevada gold manufacturing of 16,306 ounces;
  • Valentine Gold Mine 250 km2 property-wide exploration program underway, providing appreciable useful resource enlargement and discovery potential with preliminary exploration targeted on new, regional goal identification together with useful resource enlargement in beforehand drilled areas;
  • Continuous gold mineralization discovery on the Valentine Gold Mine reinforces the huge potential of the Valentine Lake Shear Zone:
    • 2.25 g/t Au over 15.3 metres Estimated True Width (ETW) together with 24.68 g/t Au over 0.85 metres ETW;
    • 36.83 g/t Au over 0.91 metres ETW;
  • Gold and silver drill outcomes from Eastern Borosi (EBP) reinforce the numerous mineral endowment and potential for discovery and useful resource enlargement inside the 176 km2 EBP land package deal:
    • 10.81 g/t Au over 3.4 metres ETW together with 19.10 g/t Au over 1.8 metres ETW;
    • 9.64 g/t Au over 3.3 metres ETW; 1,431.6 g/t Ag over 2.9 metres ETW; and
  • Valentine Gold Mine awarded the John T. Ryan National Safety Trophy by the Canadian Institute of Mining, Metallurgy and Petroleum for an excellent 2023 security report.

Darren Hall, President and Chief Executive Officer of Calibre, acknowledged: Calibre achieved a number of milestones in the course of the quarter and stays on monitor for a powerful second half to ship a fifth consecutive 12 months of elevated annual gold manufacturing steerage of 275,000 to 300,000 ounces.

Construction of the Valentine Gold Mine continues to advance with the challenge at 73% full as of June 30. Operational readiness is progressing as deliberate with pre-commissioning nicely underway. First gold pour stays scheduled for Q2 2025, marking a milestone as Calibre advances in the direction of changing into a top quality, mid-tier gold producer, poised to ship substantial further worth to shareholders.

Calibre continues to evolve and broaden its efficient hub and spoke working technique as areas adjoining to the Limon mill and alongside the VTEM gold hall reveal bonanza-grade gold mineralization. The Volcan deposit, within the Libertad Mine Complex, just lately obtained allow approvals for building and manufacturing, so H2 manufacturing will profit from further 2 g/t open pit gold mineralization positioned inside 5 kilometres of the Libertad mill.

Following the Limon Norte pit wall motion, inside and exterior engineers have accomplished their evaluate and log out, and regular operations are actually underway, permitting entry to higher-grade 4 g/t ore in Q3 and This autumn. As a results of the quite a few ore sources and mine flexibility that our hub and spoke working technique gives, we stay assured in our Q3/This autumn and full-year manufacturing steerage.

I’m delighted by our inclusion within the S&P/TSX Composite Index, which acknowledges the worth we’re producing for shareholders by means of our Company’s progress. This milestone will provide Calibre shareholders elevated publicity, entry to a wider vary of potential traders, improved liquidity and buying and selling flexibility.

Calibre maintains its steadfast dedication to excellence in accountable mining. The staff at Valentine was awarded the John T. Ryan National Safety Trophy by the CIM, for its distinctive security efficiency in 2023, attaining zero accidents. As a core worth, Calibre fosters the tradition of well being and security amongst staff, sharing a unified imaginative and prescient of accountability towards secure and accountable mining practices, making a optimistic impression within the communities the place we function.

Valentine Gold Mine Tailings Management Facility (dam embankment liner at 96% full)

Valentine Gold Mine Process Plant Leach Tank Assembly

Q2 and YTD 2024 Financial Results and Conference Call Details

Second quarter monetary outcomes will likely be launched after market shut on Monday, August 12 and administration will likely be internet hosting a convention name on Tuesday, August 13 to debate the outcomes and outlook in additional element.

Date: Tuesday, August 13, 2024
Time: 10:00 am ET
Webcast Link: https://edge.media-server.com/mmc/p/vmftefqy

Instructions for acquiring convention name dial-in quantity:

  1. All events should register on the hyperlink under to take part in Calibre’s Q2 2024 convention name.
  2. Register by clicking https://dpregister.com/sreg/10189865/fcb2dee667 and finishing the net registration type.
  3. Once registered you’ll obtain the dial-in numbers and PIN quantity for enter on the time of the decision.

The reside webcast and registration hyperlink will be accessed right here and at www.calibremining.com beneath the Events and Media part beneath the Investors tab. The reside audio webcast will likely be archived and obtainable for replay for 12 months after the occasion at www.calibremining.com. Presentation slides that may accompany the convention name will likely be made obtainable within the Investors part of the Calibre web site beneath Presentations previous to the convention name.

Qualified Person

The scientific and technical data contained on this information launch was accepted by David Schonfeldt P.GEO, Calibre Mining’s Corporate Chief Geologist and a “Qualified Person” beneath National Instrument 43-101.

About Calibre

Calibre is a Canadian-listed, Americas targeted, rising mid-tier gold producer with a powerful pipeline of improvement and exploration alternatives throughout Newfoundland & Labrador in Canada, Nevada and Washington within the USA, and Nicaragua. Calibre is targeted on delivering sustainable worth for shareholders, native communities and all stakeholders by means of accountable operations and a disciplined method to progress. With a powerful steadiness sheet, a confirmed administration staff, sturdy working money stream, accretive improvement initiatives and district-scale exploration alternatives Calibre will unlock vital worth.

ON BEHALF OF THE BOARD

Darren Hall

Darren Hall, President & Chief Executive Officer

For additional data, please contact:

Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com

Calibre’s head workplace is positioned at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

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The Toronto Stock Exchange has neither reviewed nor accepts accountability for the adequacy or accuracy of this information launch.

Cautionary Note Regarding Forward Looking Information

This information launch consists of sure “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) inside the which means of relevant Canadian securities laws. All statements on this information launch that tackle occasions or developments that we anticipate to happen sooner or later are forward-looking statements. Forward-looking statements are statements that aren’t historic information and are recognized by phrases equivalent to “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and comparable expressions or their unfavorable connotations, or that occasions or situations “will”, “would”, “may”, “could”, “should” or “might” happen. Forward-looking statements on this information launch embody, however aren’t restricted to: the Company’s expectations towards greater grades mined and processed going ahead; statements regarding the Company’s 2024 precedence useful resource enlargement alternatives. Forward-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past Calibre’s management. For a list of threat elements relevant to the Company, please consult with Calibre’s annual data type (AIF) for the 12 months ended December 31, 2023, and its administration dialogue and evaluation (MD&A) for the 12 months ended December 31, 2023, all obtainable on the Company’s SEDAR+ profile at www.sedarplus.ca. This checklist just isn’t exhaustive of the elements which will have an effect on Calibre’s forward-looking statements equivalent to potential sanctions applied on account of the United States Executive Order 13851 dated October 24, 2022.

Calibre’s forward-looking statements are based mostly on the relevant assumptions and elements administration considers cheap as of the date hereof, based mostly on the knowledge obtainable to administration at such time. Such assumptions embody however aren’t restricted to: the Company having the ability to mine and course of greater grades and maintain manufacturing prices comparatively flat going ahead; there not being a rise in manufacturing prices on account of any provide chain points or ongoing COVID-19 restrictions; there being no antagonistic drop in metallic worth or cut-off grade on the Company’s Nevada properties. Calibre doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change apart from as required by relevant securities legal guidelines. There will be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements might differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance shouldn’t be positioned on forward-looking statements.

Photos accompanying this announcement can be found at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/729570a2-1172-4f65-8e65-598dbd247305
https://www.globenewswire.com/NewsRoom/AttachmentNg/c83848ab-f9ab-463e-b280-800a09898c86

Valentine Gold Mine Tailings Management Facility (dam embankment liner at 96% full)

Valentine Gold Mine Tailings Management Facility (dam embankment liner at 96% full)

Valentine Gold Mine Process Plant Leach Tank Assembly

Valentine Gold Mine Process Plant Leach Tank Assembly

Source: Calibre Mining Corp.
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