Mr. Darren Hall reports

CALIBRE MINING DELIVERS THIRD CONSECUTIVE RECORD QUARTER, PRODUCING 68,776 OUNCES OF GOLD, LEADING TO A 32% INCREASE IN CASH TO $77 MILLION

Calibre Mining Corp. has provided operating results for the three and six months ended June 30, 2023 (all amounts are expressed in U.S. dollars).

Q2 and year-to-date (YTD) 2023 highlights

• Record consolidated quarterly gold production of 68,776 ounces:
  • 15-per-cent increase in gold production compared with Q2 2022 (59,723 ounces);
  • Nicaragua gold production of 58,392 ounces and Nevada gold production of 10,384 ounces.
• Record consolidated YTD gold production of 134,526 ounces:
  • 20-per-cent increase in gold production compared with YTD 2022 (111,621 ounces);
  • Remain well on track to deliver full-year guidance of 250,000 to 275,000 ounces.
• Cash increased 32 per cent to $77-million over Q1 2023;
• Successfully and safely delivered expanded production capacity with a fourth new open-pit mine in three years with ore deliveries from the Eastern Borosi mine to the Libertad mill;
• High-grade drill results within the Eastern Borosi district reinforce the potential for discovery and expansion;
• Consistent, broad width gold mineralization confirmed at Golden Eagle, United States;
• Initial drilling yielded high-grade results from the past producing Talavera deposit within the Limon mine complex, reaffirming the company's overall resource expansion and discovery potential;
• Near-mine and higher-grade drilling of the Palomino target at Pan gold mine points to expansion potential;
• Published 2022 sustainability report demonstrating commitment to responsible mining business practices.

Darren Hall, president and chief executive officer of Calibre, stated: "The team delivered another record quarter, with production of 68,776 ounces being ahead of budget, and positioning the company well to deliver our full-year production guidance of 250,000 to 275,000 ounces. Importantly, we generated strong free cash flow, increasing the company's cash balance 32 per cent over Q1 2023 to $77-million.

"During the quarter we announced numerous positive exploration results. Given our demonstrated ability to convert discovery into production, I expect our investment will continue to result in additional shareholder value as we leverage the significant surplus capacity available at the Libertad processing facility.

"During the quarter we published our 2022 sustainability report outlining our progress and achievements as we reaffirm our commitment to transparency, accountability, and responsible mining and business practices.

"We believe Calibre continues to present a compelling investment opportunity as we responsibly self-fund discovery and resource expansion, grow production, build reserves, whilst concurrently building cash."

Q2 and YTD 2023 financial results and conference call details

Second quarter and YTD financial results will be released after market close on Wednesday, Aug. 9, 2023, and management will be hosting a conference call on Thursday, Aug. 10, to discuss the results and outlook in more detail.

Date:  Thursday, Aug. 10, 2023

Time:  10 a.m. ET

Webcast link:  available on-line

Instructions for obtaining conference call dial-in numbers:

• All parties must register on-line to participate in the Calibre Mining Q2 conference call.
• Register by going to the Vevent website and completing the on-line registration form.
• Once registered you will receive the dial-in numbers and PIN for input at the time of the call.

The live webcast and registration link can be accessed at the company's website under the events and media section under the investors tab. The live audio webcast will be archived and made available for replay at the company's website. Presentation slides that will accompany the conference call will be made available in the investors section of the Calibre website under presentations, prior to the conference call.

Qualified person

Darren Hall, MAusIMM, president and chief executive officer, of Calibre Mining is a qualified person as set out under National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.

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 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.