Calibre Advances 100% Owned Eastern Borosi Gold-Silver District; Potential to Expand the "Hub-and-Spoke" Operation; Multi-Rig Drill Program Underway - Seite 2

Darren Hall, President & Chief Executive Officer of Calibre, stated: "During 2020, we implemented our "Hub-and-Spoke" operating strategy, which has exceeded expectations leading to a 30% increase in 2021 production guidance over 2020. So far this year, we have delivered on commitments by expanding our "Hub-and-Spoke" operation with the development of the new high-grade ‘Mining Spoke’ at Pavon Norte open pit. With the surplus capacity at our Libertad mill we are now turning our attention to EBP, which represents an excellent opportunity to develop another new high-grade 'Mining Spoke', delivering potential lower cost production increases and extending processing life at Libertad."

Mark Petersen, Vice President of Exploration, stated: "Calibre’s exploration success at EBP over the past 11 years demonstrates the project’s excellent potential for the discovery of high-grade resources hosted within a district scale system of epithermal gold-silver veins. Not only do we see opportunities to expand resources around the known deposits at Guapinol, Vancouver and Riscos, we also recognize strong potential for additional new discoveries on less explored vein systems within the project area. Now that the infill drilling program is fully ramped up and underway, our exploration team is eager and ready to begin pursuing these earlier stage opportunities toward our next resource growth opportunity.”

The 100% Owned Eastern Borosi Property

The EBP property package consists of 176 km² of 100% owned mineral concessions within the Company's larger concession holdings in the prolific "Golden Triangle" region of northeastern Nicaragua. The property hosts gold-silver resources in multiple vein systems that are part of a larger district of epithermal style, gold-silver and base metal vein mineralization. Mineral resources have been defined in six vein systems that are exposed along an eight-by-ten kilometre structural corridor that remains open to the northeast and southwest. The individual resources are distributed among three different areas of EBP. The high-grade Guapinol, Vancouver and Riscos deposits are centrally located near the town of Riscos de Oro, with the Blag and East Blag deposits located approximately 6 km to the northeast and the La Luna deposit located the same distance to the southeast (see link to project area map below). A table summarizing the inferred resources for each of the deposits is provided below.