Calibre Mining nears 2024 gold production goals, prepares for Valentine Mine's first gold in H1 2025

Calibre Mining is pleased to present the operational performance for the first quarter ending on March 31, 2024, showcasing its commitment to excellence and sustainable growth in the mining sector.

The Canadian mining company Calibre Mining, renowned in the sector for its robust commitment to sustainable development through responsible operations and a forward-looking approach to continuous growth, announces that the final phases of construction and operational readiness at VGM are progressing as planned and are fully funded. This preparation is in anticipation of the first gold production in H1, 2025, aimed at unlocking substantial production growth and value.

Having said that, Darren Hall, President and Chief Executive Officer of Calibre, outlines, "Aligned with our projections for the initial six months of 2024, our team successfully yielded 61,767 ounces of gold during Q1. We project a greater share of gold output in the latter half of the year as we integrate further organic production sources and exploit higher-grade zones of gold mineralization outlined in our mine plan. Our dedication remains unwavering as we strive to realize our full-year 2024 production target of 275,000 to 300,000 ounces."

The onset of 2024 has been an exciting period for Calibre, marked by the finalization of the acquisition of the multi-million-ounce Valentine Gold Mine ("VGM") in Canada, the fourth consecutive year of Mineral Reserve expansion, and the company's inclusion in the Van Eck GDX Index. Since transitioning into a gold producer in Q4, 2019, Calibre has demonstrated annual production growth of 28% year on year, consistently meeting or exceeding expectations. The company is charting a clear and focused trajectory for delivery and expansion. With an investment exceeding 130,000 meters in resource expansion and discovery drilling throughout 2024, the anticipation is high for continued positive outcomes across the entire asset portfolio.

The years 2024 and 2025 are anticipated to be transformative, characterized by a surge in gold production and substantial exploration endeavors across the Americas. The final phases of construction and operational readiness at VGM remain on track and fully funded, paving the way for initial gold production in H1, 2025, poised to unlock significant production growth and shareholder value.

Throughout this period of significant growth, Calibre maintains a steadfast commitment to excellence in sustainability and ethical mining practices. The company's initiatives extend beyond mere regulatory compliance, emphasizing continual improvement to minimize environmental impact and fostering transparent and meaningful community engagement to foster positive relationships in the regions of operation. For more details about visit www.calibremining.com