New High Grade Drill Intercepts From Newly Acquired Development Stage Gold Rock Project

VANCOUVER - Calibre Mining Corp. reported that the remaining nine core holes during previous exploration programs at the newly acquired, Gold Rock project in Nevada, have been completed. These holes were part of a larger reverse circulation (RC) and core program, but assays have only recently become available due to COVID-19-related delays in processing and assays.

Darren Hall, President and Chief Executive Officer, said, “It is exciting to see continued high-grade intercepts from Gold Rock, in particular those which occur outside the previously reported Preliminary Economic Assessment (“PEA”) pit limits. Since the PEA, which was completed in 2020, numerous holes, within and surrounding, the North and South mineral resource pits have intercepted higher grades than the current mineral resource average grade of 0.70 g/t gold. We see significant resource expansion opportunities at Gold Rock and will continue to advance technical studies and drilling along the prospective 16.5 kilometer mineralized trend. Gold Rock presents an exceptional near-term opportunity to grow production in Nevada, leveraging off management and infrastructure at our Pan mine located approximately 20 kilometers northwest of Gold Rock. We have commenced preparing 2022 budgets for Nevada and see an opportunity to materially expand and accelerate the exploration programs given the opportunity for resource expansion and continued discovery potential. Currently we have five rigs operating between Gold Rock and the adjacent Pan mine.”