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VANCOUVER, British Columbia, March 12, 2024 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce the effects of the Company’s mineral upgrade. resources (“Resources” and Mineral Reserves (“Reserves”) for their homes in Nicaragua and Nevada as of December 31, 2023. Reserves are higher in both jurisdictions, net of depletion, since the acquisition of each asset. As the team’s delight in demonstrations, Caliber continues to successfully make new discoveries and turn discoveries into reserves, as evidenced by the VTEM gold room within the Limon Mining Complex, which has seen a 36% year-over-year growth in reserves. The VTEM room now comprises 1. 25 Mt averaging 8. 25 g/t Au for 332 koz in reserves with several kilometers of lateral prospective and an ongoing 50,000 m drill program.
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Nicaragua’s Mineral Reserves (December 31, 2023)
Strengths
Darren Hall, President and Chief Executive Officer of Calibre, said, “I am very pleased to see a year of expansion in net depletion reserves in any of the operating jurisdictions. We crystallized a significant portion of our reserve resources for a record 1. 42 Moz in Nicaragua and Nevada. , net of record production of 283,525 ounces in 2023. Nicaragua continues to deliver on its promises with reserves of 1. 13 Moz, offering a solid foundation from which to deliver. With our recent acquisition of the Valentine gold mine, consolidated reserves across our company stand at 4. 1 Moz, an accumulation of more than 10 times since the fourth quarter of 2019, net of 825 koz of production. It is vital to note that cumulative bookings increased by more than 36% year-over-year at our emerging flagship project. In Nevada, we have increased our reserves by more than 50%, net of production depletion, since the completion of the acquisition in 2021. “
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Link – Detailed Tables of Mineral Resources and Mineral Reserves for 2023
Quality Assurance / Quality Control
Canada’s quality control and quality control protocols followed at the Valentine Gold Mine include the insertion of blanks and criteria at normal periods in each batch of samples. The drill core is cut in part, one part is saved on-site, and the other is labeled and shipped to Eastern Analytical Limited in Springdale, Newfoundland. Eastern Analytical is ISO 17025 accredited for atomic absorption spectroscopy of gold stack assay preparation techniques and is caliber-agnostic. All samples are tested for Au using a chimney assay (30 g) with AA finish. Samples with a gold finish. A metal sieving procedure was subjected to a metal sieving procedure of the total pulp with a content greater than or equivalent to three hundred ppb. Samples occurring in mineralized zones of
Nicaragua Caliber maintains a quality assurance and control (“QA/QC”) program for all of its exploration projects that employ the most productive practices in the industry. Key elements of the QA/QC program come with a verifiable chain of custody for samples, the normal insertion of qualified benchmarks and blanks, and duplicate control testing. The drill cores are partly divided and shipped in sealed bags to Bureau Veritas in Managua, Nicaragua, an independent provider of analytical services with global certifications for quality control systems ISO 9001:2008, environmental control: ISO14001 and OH Safety Management SAS 18001 and AS4801. Before research, samples are ready at Veritas’ facility in Managua and then sent to its testing facility in Vancouver, Canada. Half carrots are also shipped in sealed bags to the ALS preparation facility in Managua, Nicaragua. ALS has a comprehensive quality program that includes internal and external interlaboratory testing systems and scheduled internal audits that meet all the needs of ISO/IEC 17025:2017 and ISO 9001:2015. Before research, samples are prepared at the ALS facility in Managua and then sent to its research center in Lima, Peru. Gold assays are routinely performed using ML/stack assay completion methods. For greater accuracy of high-quality materials, samples grading 10 g/t Au or higher are retested using a gravimetrically completed stack assay. Analyzes of silver and other elements of interest are performed using inductively coupled plasma (ICP).
Key elements of Nevada’s QA/QC program include placing analytical standards, blanks, and duplicates in the pattern stream to ensure that the lab’s analytical effects are within specified functionality levels. Downhole deviation studies are provided through International Directional Services, employing a surface recording gyroscope and trained drill crews employing a northbound search gyroscope provided through REFLEX. RC drilling was completed through Boart Longyear of Salt Lake City, Utah and Alford Drilling of Elko, Nevada. The analyses were carried out through ALS, Reno, where chimney analyses settled on a 30-gram load with an AAS finish. Additional cyanide leaching research was also conducted. ALS is ISO/IEC 17025:2017 certified.
Qualified Persons and Technical Disclaimers
This press release has been reviewed and approved through Benjamin Harwood, M. Sc. , P. Geo. of Calibre, who has prepared or supervised the preparation of updated estimates of the El Limon Complex, La Libertad Complex (Libertad, Pavon and EBP Districts) and Pan Mine Mineral Resources, and is a Qualified Person (“QP”) as described in NI 43-101.
This press release has been reviewed and approved by Murray Dunn, P. Eng. , and Jordan Cooper, P. Eng. , of SLR Consulting (Canada) Limited (“SLR”), who prepared or supervised the preparation of El Limón. Update. The mineral reserve estimates for the Complex and the La Libertad Complex (Libertad, Pavón and EBP districts) are presented in this press release and are Qualified Persons (“QP”) within NI 43-101.
The PanA Technical Report for the Pan Gold Project (“NI 43-101 Updated Technical Report on Resources and Reserves Pan Gold Project, Nevada”) has been published through SRK Consulting (U. S. ) Inc. in accordance with NI 43-101 in March 2023, the white paper includes the main points related to the updated mineral reserves and resource estimates presented here. Readers are encouraged to read the White Report in its entirety, adding all similar reservations, assumptions, and exclusions to mineral resources and mineral reserves.
M. Roy Eccles, P. Geo. (PEGNL), of APEX Geoscience Ltd. , is the qualified person guilty of reviewing and accepting the task for the July 2022 mineral resource estimate prepared through John T. Boyd Company. Marc Schulte, P. Eng. , of Moose Mountain Technical Services, is the qualified person responsible for the preparation of the mineral reserve estimate. Ms. Schulte and Mr. Eccles are qualified individuals within NI 43-101 and are independent of Caliber.
See also the notes in the table below.
Darren Hall, MAusIMM, President and Chief Executive Officer, Caliber Mining Corp. reviewed and approved the clinical and technical aspects contained in this press release.
David Schonfeldt, P. Geo. , Chief Corporate Geologist, Caliber Mining Corp. and “Qualified Person,” as explained through National Instrument 43-101, has reviewed and approved the clinical and technical aspects contained in this press release.
About CalibreCalibre is a growing mid-tier gold manufacturer, listed in Canada and targeting the Americas, with a strong pipeline of progression and exploration opportunities in Newfoundland and Labrador in Canada, Nevada and Washington in the U. S. and Canada. It is important to ensure that the U. S. , and Nicaragua’s price is paid to shareholders, local communities, and all stakeholders through culpable operations and a disciplined technique for growth. With a strong balance sheet, proven control team, strong operating cash flow, cumulative progression projects, and district-wide exploration opportunities, Calibre will come at a significant price.
ON BEHALF OF THE COUNCIL
“Darren Hall”
Darren Hall, President & CEO
For information, please contact:
Ryan KingSenior Vice President, Corporate Development & IRT: (604) 628-1012E: calibre@calibremining. com W: www. calibremining. com
Caliber Head is located at Suite 1560, Two Hundred Burrard St. , Vancouver, British Columbia, V6C 3L6.
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The Toronto Stock Exchange has not reviewed or accepted the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Information
This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements in this press release that address events or developments that we expect to occur in the long term are forward-looking statements. Forward-looking statements are statements that are not past facts and are referred to by words such as “expect,” “plan,” “anticipate,” “project,” “target,” “prospective,” “schedule” and “forecast. ” , “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that occasions or situations “will”, “could”, “could”, “possibly”, “should” or ” it could happen. Forward-looking statements in this press release include, but are not limited to: the Company’s expectations regarding higher grades mined and processed in the long term; statements related to the Company’s priority resource expansion opportunities for 2024; assumptions related to the Company’s steel costs and cut-off grades. Forward-looking statements necessarily involve assumptions, threats and uncertainties, some of which are not within Caliber’s control. For a list of threat points applicable to the Company, please see Caliber’s annual report. Inshapeation Shape (“Inshapeation Annual Form”) for the year ended December 31, 2023, and its MD&A (“MD&A”). for the year ended December 31, 2023. 2023, all available on the Company’s SEDAR+ profile at www. sedarplus. ca. This list is not exhaustive of items that could potentially affect Caliber’s forward-looking statements, such as potential sanctions implemented as a result of U. S. Executive Order 13851 of October 24, 2022.
Caliber’s forward-looking statements are based on assumptions and applicable points that control considers to be moderate as of the date hereof, based on data that had to be controlled at that time. These assumptions include, but are not limited to: the Company’s ability to extract and process superior grades and keep production costs strong in the future; there are no increases in production costs due to supply chain issues or ongoing COVID-19 restrictions; there have been no adverse declines in steel costs or cut-off laws on the Company’s properties in Nevada. Calibre assumes no legal responsibility to update forward-looking statements if beliefs, expectations or revisions of cases or controls deserve to be superseded in a manner other than as required by applicable securities laws. There can be no assurance that forward-looking statements will be accurate, and actual results, functionality or achievements may simply differ materially from those expressed or implied by such forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.
Note 1 – La Libertad Complex Mineral Resource Notes
Note 2 – Notes on the Mineral Reserves of the La Libertad Complex
Note – Notes on mineral resources of the El Limon Complex
Note – El Limon Complex Mineral Reserve Notes
Note Five – Cerro Aeropuerto (Borosi) Mineral Resource Notes
Note 6 – Notes on Spring (Borosi) Mineral Resources
Note 7 – Notes on the Pan Open Pit Mineral Reserve
Note – Pan Open Pit Mineral Resource Notes
Note Nine – Gold Rock Mineral Resource Notes
Note 10 – Golden Eagle Mineral Resource Notes
Note: Valentine Gold Mine Mineral Resource Notes
Note 12 – Mineral reserve notes from the Valentine Gold Mine
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