Calibre Receives Environmental Approval for Development and Operation of the Volcan Gold Deposit located in the Libertad Mine Complex

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VANCOUVER, British Columbia, July 8, 2024 (GLOBE NEWSWIRE) — Caliber Mining Company Caliber Corporation (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Caliber”) is pleased to announce that the relevant Nicaraguan authorities have granted the Company key environmental permits for the development and production of open pit mines at the Volcan (“Vulcan”) gold deposit located approximately 5 km south of the Libertad mill.

Darren Hall, President and CEO of Caliber, said,“The approval of the Vulcan permit demonstrates the value of our pivotal operating strategy as we achieve another significant milestone in Caliber’s efforts to grow gold production organically. With an initial open-pit resource averaging 2.0 g/t gold, drilling in 2023 confirms that the deposit can host high-grade gold minerals near surface. With the receipt of this key permit, combined with Vulcan’s proximity to the Libertad mill, which has over 1 million tons of surplus capacity, we expect the deposit to contribute to the Company’s production profile in the second half of this year.”

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About Caliber
Caliber is a publicly traded Canadian company focused on the Americas, an emerging mid-tier gold producer with a strong pipeline of development and exploration opportunities in Newfoundland and Labrador, Canada, Nevada and Washington, USA, and Nicaragua. Caliber is focused on delivering sustainable value to shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, proven management team, robust operating cash flow, profitable development projects and exploration opportunities across the region, Caliber will unlock significant value.

On behalf of the Board of Directors

Darren Hall

Darren Hall, President and CEO

For more information, please contact:

Ryan King
Senior Vice President, Corporate Development and Investor Relations
T: 604.628.1012
Email: calibre@calibremining.com
And the: www.calibremining.com

Calibre’s principal office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

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The Toronto Stock Exchange has not reviewed this press release and assumes no responsibility for its adequacy or accuracy.

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Cautionary Note Regarding Forward-Looking Information
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements in this press release that address future events or developments that we expect to occur are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as “expect,” “plan,” “anticipate,” “project,” “target,” “potential,” “schedule,” “forecast,” “budget,” “estimate,” “intend” or “believe” and similar expressions or their negative connotations, or that events or circumstances “will occur,” “may,” “could,” “should” or “might” occur. For a list of risk factors applicable to the Company, please refer to Calibre’s Annual Information Form (“AIF”) for the year ended December 31, 2023, and Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2023, all of which are available on the Company’s SEDAR+ filing at www.sedarplus.ca. This list is not exhaustive of factors that may affect Calibre’s forward-looking statements, such as potential sanctions imposed as a result of U.S. Executive Order 13851 of October 24, 2022.

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Calibre’s forward-looking statements are based on assumptions and factors that management believes are reasonable as of the date of this document, based on information available to management at that time. These assumptions include, but are not limited to: the Company’s ability to extract and process higher grades and maintain relatively constant production costs in the future; no increase in production costs as a result of any supply chain issues; and no adverse decline in the price of the metal or the grade specified. Calibre assumes no obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed or implied by such forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.

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