Mr. Darren Hall reports

CALIBRE CONTINUES TO EXPAND ZONES OF HIGH-GRADE GOLD MINERALIZATION WITHIN THE LIMON MINE COMPLEX; INITIAL RESULTS INCLUDE 9.67 G/T GOLD OVER 13.3 METRES AND 8.94 G/T GOLD OVER 10.1 METRES

Calibre Mining Corp. has released results from its resource expansion and infill drilling program at the high-grade Atravesada underground deposit located within the Limon mine complex, two kilometres west of the Limon processing plant. These high-grade intercepts continue to demonstrate the resource expansion potential at the Limon mine complex. While the main exploration efforts at Limon have targeted extensions along the VTEM (versatile time domain electromagnetics) gold corridor (see news release dated July 18, 2023), the Limon district remains expansive with expansion and discovery potential across the entire property package.

Drill intercept highlights at Atravesada underground include:

• 9.67 grams per tonne (g/t) gold (Au) over 13.3 metres ETW (estimated true width), including 15.77 g/t Au over 7.9 metres ETW in hole LIM-22-4711;
• 15.32 g/t Au over 4.3 metres ETW, including 28.71 g/t Au over 2.3 metres ETW in hole LIM-22-4715;
• 8.94 g/t Au over 10.1 metres ETW, including 22.43 g/t Au over 3.3 metres ETW in hole LIM-22-4719;
• 7.66 g/t Au over 7.1 metres ETW, including 14.55 g/t Au over 3.4 metres ETW in hole LIM-22-4725;
• 16.30 g/t Au over 1.9 metres ETW, including 30.50 g/t Au over one metre ETW in hole LIM-22-4729;
• 6.22 g/t Au over 8.9 metres ETW, including 11.07 g/t Au over 4.3 metres ETW in hole LIM-22-4734.

Darren Hall, president and chief executive officer of Calibre, stated: "I am pleased to see such high grade in proximity to existing underground development within the Limon mining complex, which has produced more than four million ounces of gold. Drilling at Atravesada has returned high-grade intercepts over significant widths, which the team anticipates will lead to additional resources and reserves."

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, 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.