Mr. Darren Hall reports

CALIBRE CONTINUES TO DISCOVER NEAR SURFACE, ABOVE RESERVE GRADE GOLD MINERALIZATION AT THE PAN MINE IN NEVADA; DRILLING INTERSECTS INCLUDE 0.45 G/T GOLD OVER 117.4 METRES AND 0.56 G/T GOLD OVER 59.4 METRES

Calibre Mining Corp. has released additional, near-surface, resource expansion drill results from its exploration programs at the Pan heap leach gold mine, located on the prolific Battle Mountain/Eureka gold trend in Nevada, United States. Results at Pan continue to reveal gold grades higher than the stated mineral resource grade of 0.4 gram per tonne gold. Today's drill results across the Pan mine property demonstrate the potential to increase resources, grade, mine life and confidence around the Pan mine.

Highlights from the Nevada drill program include (estimated true width):

• 0.45 gram per tonne gold over 117.4 metres ETW in hole PR24-113;
• 0.56 gram per tonne gold over 59.4 metres ETW, including 1.31 grams per tonne gold over 9.1 metres ETW, in hole PR24-111;
• 0.46 gram per tonne gold over 71.6 metres ETW in hole PR23-208;
• 0.66 gram per tonne gold over 36.6 metres ETW in hole PR23-212;
• 0.93 gram per tonne gold over 24.4 metres ETW in hole PR23-201;
• 0.45 gram per tonne gold over 10.7 metres ETW in hole PR24-066;
• 0.58 gram per tonne gold over 15.2 metres ETW in hole PR24-067;
• 0.58 gram per tonne gold over 13.7 metres ETW in hole PR24-076;
• 0.42 gram per tonne gold over 24.4 metres ETW in hole PR24-81;
• 0.41 gram per tonne gold over 29.0 metres ETW in hole PR24-126;
• 1.38 grams per tonne gold over 9.1 metres ETW in hole PR23-181;
• 1.08 grams per tonne gold over 6.1 metres ETW in hole PR24-024;
• 0.34 gram per tonne gold over 32.0 metres ETW in hole PR24-131.

Darren Hall, president and chief executive officer of Calibre, stated: "Since acquiring Pan in early 2022, we have successfully increased mineral reserves by 50 per cent net of two years of production depletion, and, with exploration success, we anticipate this trend could continue. The majority of today's drill results contain grades that are higher than our stated mineral reserve grade and, in many cases, sit outside our mineral reserve pit shell. These results bode well for longevity to Pan's future mine life.

"We remain focused on reinvesting in our future with a demonstrated track record of delivery and growing consolidated mineral reserves, after 825,000 ounces of production, over the last four years. We continue to drill Pan and Gold Rock in Nevada, the multimillion-ounce Valentine gold mine in Newfoundland and Labrador, with an additional 100,000-metre drill program under way, and a multirig discovery and resource expansion drill program in Nicaragua.

"Calibre Mining is proud to announce the release of our Valentine gold mine's 2023 sustainability brief, highlighting our unwavering commitment to a strong environmental, social and governance performance across our operations. This report showcases our initiatives aimed at minimizing environmental impact, fostering community engagement and ensuring the highest standards of responsible mining practices. By integrating robust sustainability performance at all phases of our mining cycle and transparent reporting, we continue to demonstrate Calibre's dedication to sustainable development, reinforcing our position as a leader in the mining industry and our commitment to creating long-term value for all stakeholders."

Quality assurance/quality control

Calibre Mining maintains a quality assurance/quality control (QA/QC) program for all its exploration projects using industry best practices. Key elements of the QA/QC program include the insertion of assay standards, blanks and duplicates in the sample stream to ensure the assay lab results are within specified performance levels. All assay batches passed QA/QC. Collar surveys are conducted by a mine surveyor using a Trimble instrument. Downhole deviation surveys are provided by trained drill crews operating a north-seeking gyroscope supplied by Reflex. Collar and downhole surveys are verified by Calibre geologists. RC (reverse circulation) drilling was performed by Alford Drilling from Elko, Nev. Assays were performed by Bureau Veritas (Reno), where fire assays were determined on a 30-gram charge with an AAS finish. Cyanide leach assays were also completed. Bureau Veritas carries ISO/IEC 17025:2017 certification.

Qualified person

The scientific and technical information contained in this news release was approved by David Schonfeldt, PGeo, Calibre Mining's corporate chief geologist and a qualified person under National Instrument 43-101.

About Calibre Mining Corp.

Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland and Labrador in Canada, Nevada and Washington in the United States, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities, Calibre will unlock significant value.

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