Calibre Announces GDXJ Index Inclusion and Management Changes

Rhea-AI Summary

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) announced its inclusion in the VanEck Vectors Junior Gold Miners ETF (GDXJ) as of June 18, 2021. This milestone indicates ongoing growth and is expected to enhance liquidity and trading flexibility for investors. The company has appointed David Londono as General Manager of the Limon Mine Complex, bringing over 35 years of mining experience. John Seaberg, the Senior Vice President and CFO, is departing, with Paulo Santos appointed as interim CFO. The management changes aim to support Calibre's growth strategy and operational excellence.

Positive

• Inclusion in the GDXJ ETF enhances the company's market profile and liquidity.
• David Londono's extensive mining experience is expected to strengthen operations at the Limon Mine Complex.
• Paulo Santos's familiarity with company finances may ensure stability during the transition of CFO roles.

Negative

• Departure of CFO John Seaberg could lead to initial operational uncertainties amidst leadership transition.

VANCOUVER, British Columbia, June 22, 2021 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce that the Company has been added to the VanEck Vectors Junior Gold Miners ETF (NYSE: GDXJ) (“GDXJ”). Calibre was added to the GDXJ Index on June 18, 2021.

In addition to the inclusion into the GDXJ, Calibre is pleased to announce the appointment of David Londono as the new General Manager for the Limon Mine Complex. David has over 35 years of experience in the mining industry, including significant work in mine management and optimization. Mr. Londono’s most recent roles were General Manager of the Detour Lake Gold Mine, and later Vice President of Projects for Kirkland Lake Gold post the Detour acquisition. David has worked with Barrick, AngloGold Ashanti, Glencore, Imerys, supporting operations around the world and holds Master’s degrees in Engineering from the Colorado School of Mines and Business Administration from Regis University in Denver. The incumbent General Manager at Limon, Felix Bermudez, will become the General Manager of Pavon, with Nestor Concha continuing as General Manager of the Libertad Mine Complex.

Senior Vice President and CFO John Seaberg is departing the organization and the Company would like to thank John for his contributions over the past two years and wishes him well in his future endeavors. The Company’s VP Finance, Paulo Santos, CA has been appointed interim Chief Financial Officer.

Mr. Santos is a Chartered Professional Accountant with over 20 years of experience in accounting, financial management and reporting, corporate governance, treasury management and mergers and acquisitions. Immediately prior to joining Calibre, Mr. Santos was Chief Financial Officer of Northern Empire Resources Corp. which was acquired by Coeur Mining in 2018. Before joining Northern Empire, he was Treasurer and Corporate Secretary at Newmarket Gold Inc. a TSX-listed Australian gold producer. Mr. Santos was a key member of the team that completed the successful merger between Newmarket Gold and Kirkland Lake Gold in 2016.

Darren Hall, President & CEO stated: “Inclusion into the GDXJ is a significant milestone as an indication of the Company’s ongoing growth which provides Calibre investors improved liquidity, trading flexibility, value and a higher profile.

“I am pleased to welcome David, his skills and leadership will benefit not only Limon, but our expanding ‘hub-and-spoke’ operating strategy as we transition current leadership to focus on continued growth at Pavon, Libertad and development of our emerging high-grade district at Eastern Borosi. We are making significant progress at Eastern Borosi with land purchases and engineering activities with currently 7 diamond drill rigs completing infill and geotechnical drilling.

“I would like to wish John all the best in his future endeavors. Paulo has a fulsome understanding of the Company’s finances and disclosure as he has been involved with the Company since the acquisition of the Libertad and Limon gold mines in 2019. We have commenced a search to find a permanent CFO to lead the organization as we continue to execute and grow our business into a quality mid-tier gold producer.”

ON BEHALF OF THE BOARD

"Darren Hall”

Darren Hall, President & CEO

For further information, please contact:
Ryan King
Vice President, Corporate Development & IR
T: (604) 628-1012
E: calibre@calibremining.com
W: www.calibremining.com

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed gold mining and exploration company with two 100%-owned operating gold mines in Nicaragua. The Company is focused on sustainable operating performance and a disciplined approach to growth. Since the acquisition of the Limon, Libertad gold mines and Pavon Gold Project, Calibre has proceeded to integrate its operations into a “Hub-and-Spoke” operating philosophy, whereby the Company can take advantage of reliable infrastructure, favorable transportation costs, and multiple high-grade mill feed sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.

Cautionary Note Regarding Forward Looking Information

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form for the year ended December 31, 2019, available on www.sedar.com. This list is not exhaustive of the factors that may affect Calibre's forward-looking statements.

Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.

FAQ

What does the inclusion of Calibre Mining in the GDXJ ETF mean for investors?

Being added to the GDXJ ETF enhances Calibre Mining's visibility and liquidity, potentially attracting more investors.

Who has been appointed as the General Manager of the Limon Mine Complex?

David Londono has been appointed as the General Manager of the Limon Mine Complex.

What role did Paulo Santos take on at Calibre Mining?

Paulo Santos has been appointed as the interim Chief Financial Officer following John Seaberg's departure.

How might the management changes affect Calibre Mining?

Management changes may impact operational continuity but are aimed at positioning the company for future growth.