Mr. Darren Hall reports

CALIBRE REPORTS HIGH-GRADE DRILL RESULTS FROM ITS TALAVERA DEPOSIT WITHIN THE LIMON MINE COMPLEX; INITIAL RESULTS INCLUDE 15.46 G/T GOLD OVER 6.7 METRES AND 10.58 G/T GOLD OVER 7.9 METRES

Calibre Mining Corp. has released results from its drill program at the past-producing Talavera mine, now known as the Talavera extension, located within the Limon mine complex, three kilometres from the Limon processing plant. These new intercepts continue to demonstrate the resource expansion and new discovery potential at the Limon mine complex.

Drill intercept highlights at Talavera include:

• 10.22 grams per tonne (g/t) gold (Au) over 4.2 metres, including 15.25 g/t Au over two metres, 15.46 g/t Au over 6.7 metres, including 18.09 g/t Au over 5.7 metres, and 10.58 g/t Au over 7.9 metres, including 15.18 g/t Au over 2.9 metres in hole LIM-22-4688;
• 3.89 g/t Au over 2.5 metres, including 5.85 g/t Au over 1.5 metres, 4.45 g/t Au over 20.9 metres, including 8.09 g/t Au over 5.4 metres and 6.69 g/t Au over 3.5 metres, and 9.31 g/t Au over 3.1 metres in hole LIM-22-4677;
• 3.92 g/t Au over 3.6 metres in hole LIM-22-4673;
• 4.10 g/t Au over 4.2 metres in hole LIM-22-4721;
• Note: True widths are unknown as several generations of gold-bearing veins exist. As a result, the company will advance a structural study employing the use of downhole televiewer technology to determine vein orientations.

Darren Hall, president, and chief executive officer of Calibre, stated: "I am encouraged by these initial results from the drill program at Talavera, which is located only three km west of the Limon processing plant. While not currently included in the company's mineral resources, Talavera is a former underground producer with past production of 800,000 ounces of high-grade ore and represents another opportunity to grow our resource base given the multiple high-grade vein sets.

"We see excellent exploration opportunities across our portfolio of assets. I look forward to sharing the results as our 2023 drilling programs progress."

About the Talavera extension

Located west of the main El Limon trend and mill, Talavera is a former underground mining area with past production, during the 1990s, of approximately 800,000 ounces of high-grade, low-sulphidation gold and has the potential for resource expansion on parallel veins. The Talavera deposit is an epithermal vein trend consisting of high-grade vein shoots along strike of the productive Veta Nueva and Atravesada vein systems. Historic drill results include 7.4 g/t Au over 10.42 metres (LIM-05-3334) and 18 g/t Au over 5.93 metres (LIM-04-335) (see press release dated Feb. 3, 2022).

Quality assurance/quality control

Calibre maintains a quality assurance/quality control (QA/QC) program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of certified reference standards and blanks, and duplicate check assays. Drill core is halved and shipped in sealed bags to Bureau Veritas in Managua, Nicaragua, an independent analytical services provider with global certifications for quality management systems (ISO 9001: 2008), environmental management (ISO14001) and safety management (OH SAS 18001 and AS4801). Prior to analysis, samples are prepared at Veritas' Managua facility and then shipped to its analytical facility in Vancouver, Canada. Gold analyses are routinely performed via fire assay/AA (atomic absorption) finish methods. For greater precision of high-grade material, samples assaying 10 g/t Au or higher are reassayed by fire assay with gravimetric finish. Analyses for silver and other elements of interest are performed via induction coupled plasma (ICP).

Qualified person

The scientific and technical information contained in this news release was approved by David Schonfeldt, PGeo, Calibre Mining's corporate chief geologist and a qualified person under National Instrument 43-101.

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the United States and in Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities, Calibre will unlock significant value.

We seek Safe Harbor.