VANCOUVER, British Columbia, Jan. 09, 2024 (GLOBE NEWSWIRE) —Calibre Mining Corp.(TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce operating results for the three months and year ended December 31, 2023, and 2024 production, sales, and cost guidance (all financial amounts are expressed in U.S. dollars unless otherwise indicated).

.

Record Q4 and Full Year 2023 Highlights

• Cash $86 million, a 52% increase over end of year 2022, after a C$40 million investment in Marathon Gold;
• 5^thConsecutive record consolidated quarterly gold production of 75,482 ounces:
  • Nicaragua Q4 gold production of 64,963 ounces and Nevada gold production of 10,519 ounces;
• Record consolidated full year production of 283,494 ounces, exceeding 2023 production guidance:
  • Nicaragua full year gold production of 242,109 ounces and Nevada gold production of 41,385 ounces;
• Achieved another successful year on many fronts including exploration success and milestones across all assets, reaffirming the Company’s multi-year, grade-driven, socially, and environmentally sustainable production growth strategy;
• Announced the combination of Calibre and Marathon Goldto create a high-growth, cash flow focused, mid-tier gold producer in the Americas with expected annual production of 500,000 ounces and completed the C$40 million financing to become Marathon’s largest shareholder;

.

.

2024 Consolidated Gold Production and Cost Guidance

• Consolidated gold production and sales of between 275,000 and 300,000 ounces;
• Consolidated Total Cash Costs¹(“TCC”) between $1,075 and $1,175 per ounce of gold;
• Consolidated All-in Sustaining Costs¹(“AISC”) between $1,275 and $1,375 per ounce of gold;
• Growth Capital of between $45 and $55 million; and
• Exploration Capital of between $25 and $30 million.

.

.

Darren Hall, President & Chief Executive Officer of Calibre, stated:

“I am proud of the Calibre team for achieving a fourth consecutive year of record production, and exceeding the high end of our 2023 production guidance, boosting our cash on hand by 52% to $86 million after a C$40 million investment into Marathon Gold.

“Looking ahead to 2024, we foresee another robust year demonstrated by an increase in annual gold production guidance. Throughout 2023, we accomplished numerous milestones as we continue to execute our corporate strategy of transitioning into a mid-tier gold producer.

“The recently announced combination of Calibre and Marathon Gold is a transformational transaction for Calibre and puts the Company in an exciting position as we complete the construction of the Valentine Gold Project in Central Newfoundland & Labrador to create an Americas focused, high-margin, high-growth, mid-tier gold company.

“With a healthy balance sheet, strong operating cash flow and available debt, the combined company expects to facilitate seamless construction of the Valentine gold project with a continuous flow of exciting discovery and resource-building drill results from Newfoundland & Labrador, Nevada and Nicaragua.

“With multiple drill rigs turning across our asset portfolio, our exploration investment continues to yield exciting results in many areas including the discovery of a potential high-grade gold source below the operating Jabali mine and three new target areas located near the Libertad mill.

“This demonstrates significant upside at depth and strong potential for resource expansion and the expansion of existing high-grade gold discoveries across our Limon property providing further opportunity to leverage the available surplus processing capacity at our Libertad mill.

“I look forward to 2024 as we work to expand our business in Newfoundland & Labrador transitioning to a mid-tier gold producer in 2025.

“Given our track record of delivery, production growth, significant high-grade gold discoveries and exploration success, strong cash flow and exciting large scale open pit development underway with Marathon, I believe Calibre continues to present a compelling gold equity investment opportunity.”

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calibre Mining.