Mr. Greg Smith reports

CALIBRE MINING ANNOUNCES COMPLETION OF LOANS FROM DIRECTORS

Calibre Mining Corp. has completed loans for $400,000 from several directors of the company. The loans will bear an annual interest of 7.0 per cent and will be payable in cash every quarter. The term of the loans is 18 months from the closing date or March 4, 2020, and the loans will be due in full on the maturity date. The company may prepay the loans, in whole or in part, at any time prior to the maturity date.

The company issued 1,333,333 common shares at a deemed price of six cents per common share to the lenders as bonus shares. All bonus shares issued pursuant to the loans are subject to a hold period expiring four months and a day following the date of issue.

The company will use the proceeds of the loans for general working capital purposes.

As insiders of the company have participated in the loans and have received bonus shares, the issuance of such bonus shares to the insiders is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of the insider participation.

About Calibre Mining Corp.

Calibre owns a 100-per-cent interest in over 413 square kilometres of mineral concessions in the Mining Triangle of northeast Nicaragua including the Primavera gold-copper project and Santa Maria gold project. Additionally, the company has a joint venture with Iamgold (176 square kilometres) and optioned to Centerra Gold (253 square km) concessions covering an aggregate area of 429 square km and is party to a joint venture on the 33.6 square km Rosita D gold-copper-silver project with Rosita Mining Corp. Major shareholders of Calibre include gold producer B2Gold Corp., Pierre Lassonde and management.

We seek Safe Harbor.