Mr. Darren Hall reports

CALIBRE EXPANDS MINERALIZATION TO SURFACE AT FRANK ZONE, UP-PLUNGE OF 2024 RESULTS AT THE VALENTINE GOLD MINE, NEWFOUNDLAND & LABRADOR, CANADA; DRILLING INTERCEPTS INCLUDE 3.08 G/T GOLD OVER 48.2 METRES, 1.62 G/T GOLD OVER 44.6 METRES, 1.94 G/T GOLD OVER 36.4 METRES AND 3.47 G/T GOLD OVER 12.6 METRES; NEW DISCOVERY FRANK ZONE NOW TRACED OVER 1 KILOMETRE ALONG STRIKE AND 500 METRES DEEP

Calibre Mining Corp. has released additional discovery diamond drill results from its expanded 100,000-metre drill program at the Valentine gold mine, located in Newfoundland and Labrador, Canada. Previous drilling (see news release dated Nov. 25, 2024) highlights the considerable prospectivity to the southwest of the Leprechaun pit at the Frank zone. New drill results reveal shallow, broad zones of continuous mineralization, expanding the volume of high-grade gold intercepts to surface. These results align with previously released high-grade trenching and grab sample data. All results discussed in this release are well outside of known mineral resources. Highlights from today's release include:

• 3.08 grams per tonne gold over 48.2 metres estimated true width (ETW) in hole FZ-24-062;
• At surface, 97.87 g/t Au over 3.9 metres ETW and 1.62 g/t Au over 44.6 metres ETW, including 2.58 g/t Au over 22.8 metres ETW and 10.11 g/t Au over 0.9 metre ETW, in hole FZ-24-064;
• 1.94 g/t Au over 36.4 metres ETW and 1.25 g/t Au over 19.1 metres ETW in hole FZ-24-066;
• 1.00 g/t Au over 56.1 metres ETW, including 12.67 g/t Au over 0.9 metre, ETW in hole FZ-24-050;
• 0.87 g/t Au over 78.3 metres ETW in hole FZ-24-055;
• 2.87 g/t Au over 5.4 metres ETW, including 11.09 g/t Au over 0.9 metre ETW; 1.28 g/t Au over 20.7 metres ETW; and 3.47 g/t Au over 12.6 metres ETW, including 31.37 g/t Au over 0.9 metre ETW, in hole FZ-24-047.

Darren Hall, president and chief executive officer of Calibre, stated: "Follow-up discovery drilling at the Frank zone, located one kilometre southwest of reported mineral resources, continues to return broad intervals of gold mineralization. Importantly, drilling has now traced mineralization to surface, highlighting the potential for another open pit. These new intercepts geologically align with ore from the Marathon, Berry and Leprechaun open pits. While exploration of the Frank zone is still in its early stages, current data indicates that the zone remains open to the southwest and to the north and has now been traced for over one kilometre along strike and to a depth of approximately 500 metres. Historically, drilling at Valentine has mainly focused on the eight-kilometre stretch from Leprechaun to Marathon pit, along the Valentine Lake shear zone. This 32-kilometre-long structure remains highly prospective for discovering additional gold resources and represents only a small fraction of the broader 250-square-kilometre land package. With construction progressing on plan, Valentine remains on schedule to achieve first gold in Q2 of this year, positioning Calibre into a mid-tier gold producer with annual production of 450,000 to 500,000 ounces."

Quality assurance/quality control

QA/QC protocols followed at the Valentine gold mine include the insertion of blanks and standards at regular intervals in each sample batch. Drill core is cut in half, with one-half retained at site and the other half tagged and sent to Eastern Analytical Ltd. in Springdale, Nfld. All reported core samples are analyzed for gold by fire assay (30 grams) with AA finish. All samples above 0.30 g/t Au and those in economically interesting intervals are further assayed using metallic screen to mitigate the presence of coarse gold. Significant mineralized intervals are reported as core lengths and estimated true width (80 per cent to 100 per cent of core length).

Qualified person

The scientific and technical information contained in this news release was approved by Nic Capps, PGeo, director of exploration for Calibre's Valentine gold mine and a qualified person under National Instrument 43-101.

About Calibre Mining Corp.

Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland and Labrador in Canada, 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.

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