Combination To Create High-Growth Mid-Tier Gold Producer With Expected Annual Production Of 500,000 Ounces

VANCOUVER - Calibre Mining Corp. and Marathon Gold Corporation have entered into a definitive arrangement agreement whereby Calibre will acquire all of the issued and outstanding common shares of Marathon pursuant to a court-approved plan of arrangement. The Transaction will create an Americas-focused, high-margin, high-growth, mid-tier gold producer with estimated average annual gold production of approximately 500 koz during 2025 – 2026E1. The combined company will have a strong balance sheet with a combined cash balance of US$148 million and significant free cash flow generated from Calibre’s existing mines. This financial strength is expected to facilitate the seamless construction of the Valentine Gold Project and a continuous flow of exciting discovery and resource-building drill results from Nicaragua, Nevada and Newfoundland & Labrador.