21:26:58 EDT Wed 29 Jun 2022
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Calibre Mining Corp (2)
Symbol CXB
Shares Issued 333,205,144
Close 2021-06-22 C$ 1.88
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Calibre joins GDXJ Index; appoints Londono as Limon GM

2021-06-22 09:44 ET - News Release

Mr. Darren Hall reports


Calibre Mining Corp. has been added to the VanEck Vectors Junior Gold Miners ETF (GDXJ). Calibre was added to the GDXJ Index on June 18, 2021.

In addition to the inclusion into the GDXJ, Calibre has appointed David Londono as the new general manager for the Limon mine complex. Mr. Londono has over 35 years of experience in the mining industry, including significant work in mine management and optimization. Mr. Londono's most recent roles were general manager of the Detour Lake gold mine and later vice-president of projects for Kirkland Lake Gold after the Detour acquisition. Mr. Londono has worked with Barrick, AngloGold Ashanti, Glencore, Imerys, supporting operations around the world and holds master's degrees in engineering from the Colorado School of Mines and business administration from Regis University in Denver. The incumbent general manager at Limon, Felix Bermudez, will become the general manager of Pavon, with Nestor Concha continuing as general manager of the Libertad mine complex.

Senior vice-president and chief financial officer John Seaberg is departing the organization and the company would like to thank Mr. Seaberg for his contributions over the past two years and wishes him well in his future endeavours. The company's vice-president, finance, Paulo Santos, CA, has been appointed interim chief financial officer.

Mr. Santos is a chartered professional accountant with over 20 years of experience in accounting, financial management and reporting, corporate governance, treasury management, and mergers and acquisitions. Immediately prior to joining Calibre, Mr. Santos was chief financial officer of Northern Empire Resources Corp., which was acquired by Coeur Mining in 2018. Before joining Northern Empire, he was treasurer and corporate secretary at Newmarket Gold Inc., a Toronto Stock Exchange listed Australian gold producer. Mr. Santos was a key member of the team that completed the successful merger between Newmarket Gold and Kirkland Lake Gold in 2016.

Darren Hall, president and chief executive officer, stated: "Inclusion into the GDXJ is a significant milestone as an indication of the company's ongoing growth, which provides Calibre investors improved liquidity, trading flexibility, value and a higher profile.

"I am pleased to welcome David, his skills and leadership will benefit not only Limon, but our expanding hub and spoke operating strategy as we transition current leadership to focus on continued growth at Pavon, Libertad and development of our emerging high-grade district at Eastern Borosi. We are making significant progress at Eastern Borosi with land purchases and engineering activities with currently seven diamond drill rigs completing infill and geotechnical drilling.

"I would like to wish John all the best in his future endeavours. Paulo has a fulsome understanding of the company's finances and disclosure as he has been involved with the company since the acquisition of the Libertad and Limon gold mines in 2019. We have commenced a search to find a permanent CFO to lead the organization as we continue to execute and grow our business into a quality mid-tier gold producer."

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed gold mining and exploration company with two 100-per-cent-owned operating gold mines in Nicaragua. The company is focused on sustainable operating performance and a disciplined approach to growth. Since the acquisition of the Limon project, the Libertad gold mines and the Pavon gold project, Calibre has proceeded to integrate its operations into a hub and spoke operating philosophy, whereby the company can take advantage of reliable infrastructure, favourable transportation costs, and multiple high-grade mill feed sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.

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