VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) –-Calibre Mining Corp.(TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announces financial and operating results for the three (“Q2 2024”) and six months (“YTD 2024”) ended June 30, 2024.

Consolidated Q2 and YTD 2024 filings can be found atwww.sedarplus.ca and on the Company’s website at www.calibremining.com

All figures are expressed in U.S. dollars unless otherwise stated.

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

“Calibre continues to generate strong operating cash flow, while the fully funded Valentine Gold Mine progresses to construction completion.

“With the recent approvals for the Volcan open pit and subsequent ore deliveries into the Libertad mill we, as planned, expect a stronger H2 and remain on track to deliver into our 2024 gold production guidance of 275,000 – 300,000 ounces.

“During the quarter we made excellent progress advancing the construction of the Valentine Gold Mine with SAG mill, ball mill and primary crusher installation well underway.

“Pleasingly the team have recently surpassed 2 million hours worked without a lost time injury.

“A key development recently announced was the receipt of the Federal Environment approval and issuance of Provincial mine and surface leases for development of the Berry deposit and associated infrastructure.

“With this approval we now have all the major approvals for the current life of mine plan, providing certainty as well as flexibility to optimize for near term cash flow.

“We have extensive exploration drilling underway across all our assets. Previously disclosed results at the Valentine Gold Mine indicate robust growth potential below and adjacent to existing Mineral Resources.

“Consequently, we have expanded the current drill program with 100,000 metres of additional drilling as we begin to unlock the incredible opportunity of resource expansion and discovery potential across the 32 kilometre long Valentine Lake Shear Zone.”

Q2 2024 Highlights

• Construction of the multi-million-ounce Valentine Gold Mine surpasses77% construction as of July 31, 2024, with a cost to complete of C$211 million and remainson track for gold production in Q2 2025;
  • Operations leadership team employed;
  • Onsite assay lab construction completed and operating;
  • Primary crusher installation underway;
  • Primary conveyor from crusher to grinding building onsite;
  • Reclaim tunnel and coarse ore stockpile construction progressing;
  • SAG mill and ball mill installation underway;
  • CIL leaching tanks construction well underway; and
  • Tailings Management Facility progressing, embankment liner at 96%;

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Disclosure

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

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