VANCOUVER - Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) ('Calibre' or the 'Company') is pleased to report previously unreleased results from the remaining nine core holes completed during previous exploration programs at the newly acquired, 100% owned Gold Rock project ('Gold Rock') in Nevada, USA.
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 of Calibre, stated: '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 kilometre 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 kilometres 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.'
Gold Rock Overview and Opportunities
The federally permitted Gold Rock project is located approximately 20 kilometres southeast of the Pan mine. In April 2020 a PEA was completed, providing an updated mineral resource estimate and a base case developing Gold Rock as a satellite open pit operation. The PEA demonstrates that Gold Rock is an economically viable project and identified several opportunities to enhance the project economics including additional drilling surrounding the mineral resource zones to improve geological model understanding and increase the mineral resource, further metallurgical testing aimed at improving recoveries and geotechnical drilling to better understand pit angles.
Since the PEA important progress has been made including technical studies, column leach metallurgical testing with results expected during the first quarter of this year, and RC, HQ and PQ drilling.
Contact:
Ryan King
Tel: 604.628.1010
Email: calibre@calibremining.com
Web: www.calibremining.com
About Calibre Mining Corp.
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, no debt, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
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. 
