Calibre Reports 2024 Financial Results; 2025 Set to be a Transformational Year as the Multi-Million Ounce Valentine Gold Mine, Canada Advances to First Gold During Q2, 2025

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has reported strong financial results for the year ended December 31, 2024, with record Q4 gold production of 76,269 ounces and full-year production of 242,487 ounces, exceeding revised guidance. The company's Valentine Gold Mine in Canada is on track for first gold production in Q2 2025, with construction progressing well and initial project capital costs remaining at approximately C$744 million.

As of February 15, 2025, consolidated production is trending 15% above budget, with cash increasing to $161 million, up 23% from December 31, 2024. FY 2024 gold sales reached 242,452 ounces, generating $574.4 million in revenue at an average realized gold price of $2,369/oz. The company reported Total Cash Costs of $1,336/oz and All-In Sustaining Costs of $1,583/oz.

Significant exploration success continues at Valentine, with drill results showing grades 40% above Mineral Reserve grade. The company also declared an initial Inferred Mineral Resource at the Talavera Gold Deposit near the Limon mill, comprising 3.847 million tonnes at 5.09 g/t gold for 630,000 ounces.

Calibre's strategic focus on stability and consistent growth aligns well with the Valentine Gold Mine project, as the project is expected to become a long-life, cornerstone asset for the company. The Valentine Gold Mine is poised to deliver approximately 200,000 ounces of gold annually with significant exploration upside, positioning Calibre as a robust, multi-asset, diversified mid-tier gold producer. The project's potential to exceed the production levels outlined in the 2022 feasibility study, given the promising exploration results, further supports Calibre's approach to stability and consistent growth. Additionally, the company's plans to accelerate the timeline for scaling up production to as much as 5.4 million tonnes per year through a phase two expansion demonstrate Calibre's commitment to long-term growth and stability.

The Valentine Gold Mine is located in the Central Region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. When completed, Valentine will be the largest gold mine in Atlantic Canada and a significant contributor to the economy of Newfoundland and Labrador. The project has estimated Proven and Probable Mineral Reserves of 2.7 Moz (51.6 Mt at 1.62 g/t Au) and Mineral Resource Estimate for Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.96 Moz (64.62 Mt at 1.90 g/t Au). Additional Inferred Mineral Resources are 1.10 Moz (20.75 Mt at 1.65 g/t Au).

Construction Progress
Tailings Management Facility is complete and ready to receive water
SAG and Ball Mill continue to advance toward pre-commissioning
Structural, mechanical and piping activities continue to advance in the Grinding, ADR, Reagents, and Gold Room areas
CIL leaching tanks construction is complete and mechanical/electrical work has commenced
Overland and coarse ore stockpile conveyor is progressing and reclaim tunnel is preparing for apron feeders
Primary crusher installation is complete and preparing for commissioning
Pre-commissioning is well underway

Calibre's investment in the Valentine Gold Mine aligns with the philosophy of not selling strong companies like Amazon and Apple during downturns. By focusing on the project's long-term growth potential, exploration upside, diversification, strong gold prices, consistent operating performance, technical expertise, and initial project capital costs, investors can make informed decisions based on the available data and facts. The Valentine Gold Mine project offers an attractive investment opportunity for Calibre Mining Corp., as it aligns with the company's preference for steady performers and offers significant growth potential.