Calibre Mining Unveils Promising Gold Discoveries in Nicaragua

Exciting Developments in Gold Exploration

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) proudly shares remarkable findings from its 2024 exploration initiatives within the Limon Mine Complex in Nicaragua. A recent discovery, termed San Jose, sits roughly 2.5 km north of the notable Panteon Norte deposit along the expansive VTEM Gold Corridor. With four diamond drills currently operational in the area, the team is diligently tracing the mineralization both in depth and along the strike.

New San Jose Discovery

The new San Jose site is generating excitement among mining engineers and geologists alike. Significant gold highlights from this new area include:

• 13.26 g/t Au over 4.9 metres, with a standout result of 33.50 g/t Au over 1.2 metres observed in Hole LM-24-4966;
• 4.92 g/t Au over 10.3 metres, featuring 9.79 g/t Au over 4.9 metres in Hole LM-24-4938;
• 5.86 g/t Au over 4.7 metres and 4.50 g/t Au over 5.3 metres documented in Hole LM-24-4946.

Talavera Mine Drilling Insights

In addition to new discoveries, the historic Talavera mine is also showcasing promising results. Here are the latest findings:

• 6.38 g/t Au over 10.5 metres in Hole LIM-24-4943;
• Exceptional grades of 14.55 g/t Au over 1.0 metres and 23.60 g/t Au over 1.2 metres in Hole LIM-24-4962;
• Impressive results of 19.95 g/t Au over 0.4 metres and 38.87 g/t Au over 1.2 metres in Hole LIM-24-4953.

Year-On-Year Comparisons

Reflecting on past drilling results from 2023, we see a pattern of ongoing high-grade intercepts at Talavera. Key past highlights include:

• 10.22 g/t Au over 4.2 metres, with remarkable peaks like 15.25 g/t Au over 2.0 metres found in Hole LIM-22-4688;
• 4.10 g/t Au over 4.2 metres recorded in Hole LIM-22-4721.

Ongoing Success at Limon

The recent exploration program at Limon is yielding outstanding results:

• 8.98 g/t Au over 3.3 metres estimated true width (ETW) in Hole LIM-24-4890;
• 19.81 g/t Au over 3.8 metres ETW in Hole LIM-24-4945;
• 29.90 g/t Au over 0.3 metres ETW in Hole LIM-24-4917.

These numbers tell a compelling story of Limon as a world-class epithermal gold district, known for substantial output, long-term operations, and the consistent discovery of high-grade resources since Calibre took ownership of the property in 2019.

CEO Insights on the Exploration Program

Darren Hall, the President and CEO of Calibre Mining Corp. shared insights on the ongoing exploration efforts: “Our findings continually impress us, and we are optimistic about the potential for Limon to grow its reserves and resources with sustained investment in exploration.” He emphasized that both established deposits and new discoveries like San Jose play critical roles in this ongoing growth.

Hall also noted the effectiveness of the VTEM geophysical survey carried out in 2022, which has proven to be an essential tool in identifying high-grade deposits, significantly contributing to increased mineral reserves across the board.

Path Forward for Talavera

Looking to the future, Talavera, while currently lacking defined resources, showcases immense discovery potential due to its historical underground infrastructure. Calibre's strategic exploration efforts may soon turn Talavera into a contributor to the company's gold assets.

Quality Control and Assurance Practices

Calibre adheres to a meticulous Quality Assurance/Quality Control (QA/QC) program, implementing industry best practices to ensure every drilling project meets high standards. This includes maintaining a verifiable chain of custody, regular use of certified reference standards, and conducting duplicate assays.

About Calibre Mining Corp.

Calibre Mining Corp. is a growing mid-tier gold producer with a strong focus on creating sustainable value within local communities across various regions, including Newfoundland and Labrador, Nevada, Washington, and Nicaragua. With a robust balance sheet and an experienced management team, Calibre is poised to unlock substantial value for shareholders.

Frequently Asked Questions

What are the highlights of the new San Jose discovery?

The San Jose discovery features grades like 13.26 g/t Au over 4.9 metres, showcasing its potential for future exploration.

How does Talavera contribute to the company?

Despite not currently having defined resources, Talavera is seen as a significant asset due to its strong discovery potential.

What does Calibre Mining focus on?

Calibre is dedicated to sustainable practices while expanding its operations and development projects across North America.

What methods are utilized in the QA/QC program?

The QA/QC program includes procedures like certified reference standards, duplicate assays, and stringent sample handling practices.

Who is the CEO of Calibre Mining?

Darren Hall is the President and Chief Executive Officer, providing leadership and strategic direction for the company.

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