CALIBRE MINING CORP ORD - CXBMF STOCK NEWS

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has announced the first ore delivery from its Volcan Deposit to the Libertad Mill. Located just 5 km south of the mill, Volcan is expected to significantly contribute to the company's production in the second half of 2024. The initial open pit resource at Volcan averages 2.0 g/t gold, supporting Calibre's annual production guidance of 275,000 – 300,000 ounces.

Darren Hall, President and CEO, highlighted the rapid progress at Volcan, with ore delivery beginning within a month of receiving environmental permits. The company's hub and spoke operating strategy is proving effective, with surplus capacity at the Libertad mill offering potential for low-cost, high-return growth.

Additionally, Calibre reports that the Valentine Gold Mine project is 98% engineered and 77% constructed, with first gold production expected in Q2 2025. This development is set to establish Calibre as a mid-tier gold producer.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has received federal environmental approval for the addition of the Berry Pit at its Valentine Gold Mine in Newfoundland & Labrador, Canada. The approval, granted by the Minister of Environment and Climate Change Canada, follows an environmental assessment update submitted in August 2023. This decision complements the recently issued provincial mining and surface leases for Berry and associated infrastructure.

Calibre's CEO, Darren Hall, highlighted that the company now has the major approvals required for the three-pit mine plan included in the 2022 Feasibility Study. Since acquiring Valentine in January, Calibre has made significant progress, advancing engineering to 98% and construction from 50% to 77%. The company is on track to deliver first gold in Q2, 2025.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has appointed Sian Tasaka to its Board of Directors, effective immediately. Ms. Tasaka brings 25 years of experience as a mining finance professional, specializing in financial analysis, reporting, and debt structuring. As an Associate Director at Endeavour Financial, she has advised mining clients on various financial aspects, including project financing, cash flow modeling, and risk management.

Ms. Tasaka holds a Bachelor of Business Administration in Finance from Simon Fraser University and has earned the Chartered Financial Analyst (CFA) designation. Calibre's Chairman, Blayne Johnson, expressed enthusiasm about the appointment, highlighting Ms. Tasaka's valuable experience and potential contributions to the company's growth strategy towards becoming a mid-tier gold producer in the Americas.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has announced an expanded 100,000 metre resource expansion and discovery drill program at its Valentine Gold Mine in Newfoundland & Labrador, Canada. This program is in addition to previously announced drilling initiatives, making it the largest pure exploration drilling campaign in Valentine's history.

The program aims to explore the 32 kilometre long Valentine Lake Shear Zone, which currently hosts a +5-million-ounce resource base across 8 kilometres. The company believes there is significant potential to extend mine life and increase throughput of the process plant. The exploration will focus on several high-priority targets, including Eastern Arm, Northwest Contact, Western Peninsula, and Marathon Northeast.

Calibre Mining has reported significant progress in its Valentine Gold Mine construction, reaching 73% completion with detailed engineering at 98%.

Key achievements include a quarterly gold production of 58,754 ounces and a year-to-date production of 120,521 ounces. Calibre remains on track for its full-year production guidance of 275,000 to 300,000 ounces.

The company also highlighted its inclusion in the S&P/TSX Composite Index, expanded exploration programs, and safety awards. Financial results for Q2 2024 will be released on August 12, with a conference call on August 13.

Calibre Mining has received environmental approval from Nicaraguan authorities to develop and operate the Volcan gold deposit, situated 5 km south of the Libertad mill. This milestone supports Calibre's hub and spoke strategy, aiming to organically increase gold production. The Volcan deposit has an initial open pit resource averaging 2.0 g/t gold. Recent drilling in 2023 confirms higher-grade, near-surface gold mineralization. The permit, along with the Libertad mill's excess capacity of over one million tonnes, positions Volcan to enhance Calibre’s production in the latter half of 2024.

Calibre Mining has appointed Paula Caldwell St-Onge to its Board of Directors. This strategic addition brings over 30 years of experience from her tenure in the Canadian Government, where she held senior roles in environmental sciences, international relations, economic development, and sustainable development. Paula has served as the Canadian Ambassador to Haiti and held various senior positions in Global Affairs Canada, demonstrating her expertise in governance, trade, and environmental assessments. Calibre Mining Chairman Blayne Johnson highlighted Paula's significant contributions to Canadian mining regulations and her advocacy for mining interests in Latin America, Mexico, and Africa. The Board expects her international network and experience to propel Calibre towards its goal of becoming a mid-tier gold producer in the Americas.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) announced that its common shares will be added to the S&P/TSX Composite Index as of June 24, 2024. The inclusion in this benchmark index is viewed as a significant achievement for the company, indicating the value created for shareholders. Darren Hall, President and CEO, highlighted the benefits of this inclusion, such as increased exposure, a broader range of potential investors, enhanced liquidity, and trading flexibility. The company aims to leverage this milestone to continue driving long-term value for its shareholders.

Calibre Mining announced that B2Gold has sold 79 million of its shares in Calibre to new long-term shareholders in an arm's length transaction priced at C$1.76 per share. Despite the sale, B2Gold retains 31,950,333 shares, representing 4% of Calibre's outstanding shares. Chairman Blayne Johnson expressed gratitude towards B2Gold for their role in Calibre's formation and continued partnership. Due to the reduced ownership, Randall Chatwin, B2Gold's representative on Calibre's Board of Directors, has resigned.