Calibre Mng - CXBMF STOCK NEWS

Calibre Mining Corp. announces the advancement of its 100% owned Eastern Borosi Project (EBP) in Nicaragua. A diamond drilling program was initiated to upgrade resources in three high-grade gold deposits. The EBP, covering 176 km², contains 700,500 ounces of gold and 11.4 million ounces of silver across six deposits. The project aims to become a key component of Calibre's 'Hub-and-Spoke' operating strategy, with exploration drilling planned for Q3 2021. The company anticipates a 30% production increase in 2021 compared to 2020.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) reported strong operating results for Q1 2021, achieving gold production of 45,452 ounces, the highest since Q3 2016. The company advanced the Pavon Norte mine, showing effective development with a 200% increase in Mineral Reserves to 864,000 ounces. Cash reserves rose to $58.2 million, up $5.1 million from last year. Positive drill results were noted, with ongoing exploration demonstrating growth potential. The production and cost guidance for 2021 remain on track amidst a growing operational strategy.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) announced an update on the Borosi exploration project, held under an agreement with Rio Tinto Exploration. This partnership allows Rio Tinto to earn a 75% interest by investing $45 million over 11 years. The exploration program covers a 667km² area and includes 5,500 meters of initial diamond drilling planned for 2021. Key targets like Carpatos, Doña Francesca, Timbuco, and Mina Victoria have been prioritized based on favorable geological settings. Over $20 million has been invested in exploration by Calibre over the last decade.

Calibre Mining Corp. (CXBMF) announced a substantial 202% increase in Mineral Reserves at its El Limon and La Libertad mining complexes as of December 31, 2020, translating to 864,000 ounces, the highest in a decade. The average reserve grade reached a record 4.49 g/t Au. This growth supports a multi-year production strategy. The company’s exploration efforts led to new discoveries at the Atravesada and Panteon zones and initiated a 60,000-metre drilling program. The expansion potential at several deposits positions Calibre for sustained growth and cash flow generation.

Calibre Mining Corp. announced the results of its Pavon Open Pit Gold Mine Pre-Feasibility Study (PFS), utilizing the Libertad mill's 2.2 million tonne per annum capacity. Key highlights include:

• Mine life: 4 years
• Average production: 47,000 ounces of gold annually
• Average cash costs: $650 per ounce
• After-tax NPV (5%): $106.4 million

With ore deliveries commenced, Calibre expects a consolidated gold production of 170,000 to 180,000 ounces in 2021. Exploration drilling aims to expand resources. The PFS report will be available on SEDAR in March 2021.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) announces the immediate resignation of President and CEO Russell Ball for personal reasons. Darren Hall, the current Senior VP & COO, has been appointed to succeed him. Hall has over 30 years of mining experience and was pivotal in the acquisition of key assets and implementing a strategy that is expected to boost gold production by 30% in 2021 to 170,000-180,000 ounces. His leadership record includes significant contributions to previous companies, enhancing shareholder value through successful operations.

Calibre Mining Corp. reported strong financial results for Q4 2020 and the full year, achieving gold production of 136,009 ounces and revenues of $242.7 million, up from $57.8 million in 2019. The average realized gold price was $1,793/oz, compared to $1,481/oz the previous year. Net income soared to $63.4 million, versus $0.9 million in 2019, with a basic earnings per share of $0.19. Although all-in sustaining costs rose, the company ended the year debt-free and increased exploration activities, signifying strategic growth potential.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has announced promising results from its 2020 drilling program focusing on the Atravesada underground zones at Limon. Notable high-grade intercepts include 7.98 g/t Au over 6.8 metres and 8.92 g/t Au over 9.8 metres. The company anticipates significant reserve increases at Limon and Libertad as a result of ongoing exploration, with plans for around 60,000 metres of drilling in 2021. Underground development at Atravesada is expected to commence in Q2 2021, with mill feed contributions to Libertad anticipated by Q3 2022.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has announced it is now debt-free after transferring a final payment of US$15.5 million to B2Gold Corp. This payment settles previously deferred amounts, including a US$10 million acquisition payment and a US$5.5 million working capital adjustment. The decision to repay was made following a strong third quarter, resulting in significant free cash flow and US$56 million in cash on hand. Calibre is focused on sustainable growth and operates two gold mines in Nicaragua.