Environmental Permit Received For Development-Operation Of Pavon Norte Open-Pit Mine

VANCOUVER, BC - Calibre Mining Corp. reported that the Company has been granted the key environmental permit for the development and production of Pavon Norte from the Ministry of the Environment and Natural Resources in Nicaragua.

Russell Ball, Chief Executive Officer said,: “The approval of Pavon Norte marks a significant milestone in the Company’s efforts to increase production and extend the life of the Libertad mill by processing ores mined from satellite deposits, in line with the Company’s ‘Hub-and-Spoke’ operating philosophy.  We will continue to work closely with the government, local communities and other stakeholders to ensure safe and responsible development and mining at Pavon Norte.”

During the fourth quarter of 2019, Calibre initiated an Environmental Impact Assessment on the Pavon Gold Project.  In addition, Calibre announced an updated resource estimate, which defined indicated resources totaling 1.39 million tonnes at 5.16 g/t Au containing 230,000 ounces of gold, and inferred resources totaling 0.57 million tonnes at 3.38 g/t Au containing 62,000 ounces of gold.  The independent Technical Report on the Pavon Gold Project (written in accordance with National Instrument 43-101 standards), titled “Pavon Gold Project, Resource Estimation, Nicaragua”, prepared by WSP Canada Inc.