VANCOUVER - Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) ('Calibre' or the 'Company') is pleased to announce the operating results for the fourth quarter and year ended December 31, 2021 and 2022 production, sales, and cost guidance.
Q4 and Full Year 2021 Production and Sales: Q4 production of 49,218 ounces and sales of 49,207 ounces of gold and Record production of 182,755 ounces, exceeding high-end of production guidance, and sales of 183,242 ounces of gold.
Full Year 2021 Highlights
Announced the acquisition of Fiore Gold in Nevada, creating a diversified, Americas focused, growing mid-tier gold producer; transaction expected to close January 12, 2022; Exceeded the high-end of 2021 production guidance with a strong fourth quarter; Cash as at December 31, 2021 of $78.4 million, an increase of $25.2 million from December 31, 2020; Completed the Pavon Pre-Feasibility Study demonstrating a robust satellite ore source feeding into the Libertad mill which has over 50% surplus capacity; Commenced low-cost open pit mining at Pavon Norte, increased haulage rates quarter over quarter to Libertad, delivering target of 1,077 tonnes per day ('tpd') in September; Announced a 200% increase in year-end 2020 Reserves to 864 koz, representing the largest Mineral Reserve since 2010 with the highest grade on record of 4.49 g/t gold; Advanced technical drilling, land purchases, social and environmental work at the initial resource zones within the Eastern Borosi Project ('EBP') and plan to submit permit applications in early Q1 2022 for open pit and underground operations, leading to expected H2 2023 production growth
Darren Hall, President and Chief Executive Officer of Calibre, stated: 'Calibre exceeded the high-end of full year 2021 production guidance driven by continued successful operational execution. During the year, Calibre generated strong operating cash flows and self-funded significant exploration and mine development while building cash quarter over quarter. Since acquiring the assets in October 2019, we have re-invested into the business which has increased reserves, discovered new deposits, and identified new targets, positioning Calibre to unlock additional mill feed sources and grow production. As we continue our multi-pronged exploration activities across the assets, we realize the prospective and under-explored potential our portfolio has to offer and will continue to re-invest in the business as exploration and resource delineation programs continue at Libertad, Pavon, Limon, and Eastern Borosi.
'Our goal of becoming a growth oriented, Americas focused mid-tier gold producer continues to advance given our recent agreement to acquire Fiore Gold, providing the next logical step to a robust and jurisdictionally diversified gold producer with three established operations, significant exploration potential and a clear path to growth.'
Contact:
Ryan King
Tel: 604.628.1010
Email: calibre@calibremining.com
Web: www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed international gold mining and exploration company with three 100%-owned operating gold mines and strong exploration assets located in highly prospective gold regions across Nicaragua. The Company is focused on unlocking resources and generating value through sustainable operating performance and a disciplined approach to growth. Since the acquisition of the Limon and Libertad gold mines and 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, favorable transportation costs, and multiple high-grade ore sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.
Cautionary Note Regarding Forward Looking Information
This news release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future 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 conditions 'will', 'would', 'may', 'could', 'should' or 'might' occur. Forward-looking statements necessarily involve assumptions, risks, and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form for the year ended December 31, 2020, available on www.sedar.com. This list is not exhaustive of the factors that may affect Calibre's forward-looking statements.
Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should 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 in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.
CALIBRE MINING CORP. 
