Phase Two Drill Results At Golden Eagle Project

VANCOUVER - Calibre Mining Corp. reported additional drill results from its second phase diamond drill program at its Golden Eagle Project. Drill results from the three holes across the property confirm additional broad intervals of gold mineralization consistent with the previously reported Phase One drill results. The Company has commenced work on a detailed and modern metallurgical program which will explore for future gold extraction potential and recovery methods and build upon previous metallurgical work. Studies are underway and results are expected in the second half of 2023.

New Phase Two drill results from the Golden Eagle program include: 2.98 g/t Au over 87.17 meters in Hole GEC22-002; 2.27 g/t Au over 47.55 meters and 3.70 g/t Au over 48.55 meters and 3.29 g/t Au over 26.82 meters in Hole GEC22-004; and 3.36 g/t Au over 37.80 meters in Hole GEC22-005.

All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths.

Phase One drill results: 4.30 g/t Au over 92.42 metres, including 7.80 g/t Au over 17.3 metres in Hole GEC22-001; 2.90 g/t Au over 195.1 metres in Hole GEC22-003; and 2.38 g/t Au over 114.3 metres; 2.66 g/t Au over 19.8 metres and 2.65 g/t Au over 25.7 metres in hole GEC22-006.

Darren Hall, President, and Chief Executive Officer, said, “Today’s drill results from Golden Eagle confirm consistent gold mineralization over broad widths, reinforcing the potential of this two million ounce Mineral Resource. Given the exceptional results from all drill holes, we have commenced a comprehensive metallurgical program which will assist in advancing additional technical studies. Golden Eagle is a key US asset and a meaningful contributor to the Company’s overall Mineral Resource and, as such, we are excited to unlock additional upside from the project.”