Calibre Strengthens its Team with the Appointment of Vice President, Canadian Operations and Process Plant Manager for the Valentine Gold Mine; Additionally, Calibre Announces GDX Index Inclusion

VANCOUVER, British Columbia, March 18, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") is pleased to announce the appointment of Mr. Jason Cyr as Vice President Operations, Canada, and André Morneau as Process Manager for the Valentine Gold Mine ("Valentine") in Newfoundland & Labrador, Canada. Additionally, Calibre is pleased to announce that the Company has been added to the VanEck Vectors Gold Miners ETF (NYSE: GDX) ("GDX"). Calibre was added to the GDX Index on March 15, 2024. 

Darren Hall, President and Chief Executive Officer of Calibre, stated: "I am very pleased to welcome Jason Cyr as the Vice President of Canadian Operations, and André Morneau as Process Plant Manager. We continue to strengthen the team as we focus on operational readiness in preparation for first gold in H1 2025 at the Valentine Gold Mine. Having worked extensively in North America, Jason brings a wealth of leadership and operational expertise to the business. André's extensive processing leadership roles will be invaluable in optimizing our plant operations. I look forward to the contributions of both Jason and André in their new roles."

"I am also very pleased to be included in the GDX Index which reflects our successful growth and provides Calibre investors improved liquidity, trading flexibility and a higher profile."

Jason Cyr ? Vice President, Canadian Operations
Jason Cyr has over 20 years of experience in operations and project development within the mining industry demonstrating a commitment to project completion and optimizing mining operations for maximum productivity with cost-effectiveness, all while ensuring the highest standard of safety.

Prior to joining Calibre, Mr. Cyr served as the General Manager of Barrick Gold's Hemlo Operation and held significant leadership roles at SSR Mining Company's Seabee Gold Operation, Rio Grande Mining Company in Texas, USA, and Liberty Mines Inc. in Timmins, ON, Canada. His achievements include overseeing the construction and operation of processing plants and mines through collaboration with various stakeholders. Mr. Cyr holds a Diploma in Mining Engineering Tech from Haileybury School of Mines in Ontario.

André Morneau ? Process Plant Manager
André Morneau is an experienced professional Chemical Engineer with over 25 years in the mining industry. Throughout his career, he has excelled in managing production, metallurgy, maintenance, and overall operations in iron, gold, lead, and copper mines and smelters. André is known for his success in operations and budget management, project execution, and a strong focus on health, safety, and environmental compliance. He has led teams, implemented change management initiatives, and achieved notable increases in production efficiency and gold recovery.

Before joining Calibre, Mr. Morneau served as the Manager of Concentrator and Surface Services at Nemaska Lithium and held senior leadership roles with extensive experience in gold mining, particularly in carbon-in-leach operations within Canada and West Africa. He holds a Bachelor of Chemical Engineering from the University of Sherbrooke, Quebec.

About Calibre

Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, 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.

ON BEHALF OF THE BOARD

"Darren Hall"

Darren Hall, President & Chief Executive Officer

For further information, please contact:

Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: [email protected]
W: www.calibremining.com  

Calibre's head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

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The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

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 in this news release include, but are not limited to: the Company's expectations toward higher grades mined and processed going forward; statements relating to the Company's 2023 priority resource expansion opportunities; the Company's metal price and cut-off grade assumptions. 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 ("AIF") for the year ended December 31, 2023, and its management discussion and analysis ("MD&A") for the year ended December 31, 2023, all available on the Company's SEDAR+ profile at www.sedarplus.ca. This list is not exhaustive of the factors that may affect Calibre's forward-looking statements such as potential sanctions implemented as a result of the United States Executive Order 13851 dated October 24, 2022.

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. Such assumptions include but are not limited to: the Company being able to mine and process higher grades and keep production costs relatively flat going forward; there not being an increase in production costs as a result of any supply chain issues or ongoing COVID-19 restrictions; there being no adverse drop in metal price or cut-off grade at the Company's Nevada properties. 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.