Mr. Darren Hall reports

CALIBRE REPORTS ADDITIONAL NEAR SURFACE, RESOURCE EXPANSION, DRILL RESULTS AT ITS PAN GOLD MINE IN NEVADA; INITIAL RESULTS INCLUDE 1.23 G/T GOLD OVER 38.1 METRES AND 0.89 G/T GOLD OVER 54.9 METRES

Calibre Mining Corp. has released additional near-surface, resource expansion drill results from its 2023 program at the Pan gold mine, located on the prolific Battle Mountain-Eureka gold trend in Nevada. Results at the Dynamite North and Palomino targets, located immediately north and south of the current open pit operation, respectively, continue to expand zones with grades higher than Pan's stated mineral resource grade of 0.4 gram per tonne (g/t) gold (Au). These additional higher-grade results, in combination with the newly discovered Coyote target announced earlier this year, located south of the operation, continue to demonstrate the potential to increase resources, grade and confidence around the Pan mine.

Highlights from the Palomino and Dynamite targets include:

• Palomino target:
  • 1.23 g/t Au over 38.1 metres, including 2.97 g/t Au over 12.2 metres in hole PR23-080;
  • 0.87 g/t Au over 16.8 metres and 1.58 g/t Au over 21.3 metres, including 2.56 g/t Au over 10.7 metres in hole PR23-088;
  • 1.13 g/t Au over 22.9 metres, including 2.82 g/t Au over 4.6 metres in hole PR23-056;
  • 0.89 g/t Au over 54.9 metres, including 1.17 g/t Au over 4.6 metres, 1.41 g/t Au over 9.1 metres and 1.19 g/t Au over 10.7 metres in hole PR23-066;
  • 1.26 g/t Au over 13.7 metres, including 1.72 g/t Au over 9.1 metres and 1.07 g/t Au over 10.7 metres, including 1.75 g/t Au over 4.6 metres in hole PR23-076;
  • 0.59 g/t Au over 32 metres in hole PR23-086.
• Dynamite North target:
  • 0.70 g/t Au over 18.3 metres and 0.79 g/t Au over 32 metres, including 2.31 g/t Au over 6.1 metres and 1.21 g/t Au over 3.1 metres in hole PR23-047;
  • 0.54 g/t Au over 27.4 metres in hole PR23-049;
  • 0.50 g/t Au over 91.4 metres in hole PR23-050.

Note: All holes were drilled at angles of minus-45 degrees to minus-90 degrees, at azimuths designed to intersect targeted structures as nearly as possible to perpendicular, when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact true widths.

Darren Hall, president and chief executive officer of Calibre, stated: "Today's highly encouraging drill results expand upon our Palomino target results announced on June 21, 2023, and immediately surround the current open pit operations. We look forward to additional results as we continue to advance our discovery and resource expansion drill programs across the operation and mineral concessions where we have identified numerous highly prospective targets."

Quality assurance/quality control

Calibre Mining maintains a quality assurance/quality control program for all its exploration projects using industry best practices. Key elements of the QA/QC program include the insertion of assay standards, blanks and duplicates in the sample stream to ensure the assay lab results are within specified performance levels. All assay batches passed QA/QC. Collar surveys are conducted by a mine surveyor using a Trimble instrument. Downhole deviation surveys are provided by trained drill crews operating a north-seeking gyroscope supplied by REFLEX. Collar and downhole surveys are verified by Calibre geologists. RC (reverse circulation) drilling was performed by Alford Drilling from Elko, Nev. Assays were performed by Bureau Veritas, Reno, where fire assays were determined on a 30-gram charge with an AAS (atomic absorption spectroscopy) finish. Cyanide leach assays were also completed. Bureau Veritas carries ISO/IEC 17025:2017 certification.

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, 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.