Positive Higher-Grade Near Surface Drilling At Pan Gold Mine

VANCOUVER - Calibre Mining Corp. reported on near-mine discovery, delineation, and resource expansion drill program at its 100% owned Pan Mine, located on the prolific Battle Mountain – Eureka gold trend, Nevada. Results at the Palomino target located immediately south of the open pit operation indicate higher grades than demonstrated at the Pan mine in the current Mineral Resource. The potential exists now to materially increase resource ounces, grade, and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths.

Darren Hall, President, and Chief Executive Officer, said, “Pan’s average reserve grade is 0.4 g/t gold, therefore the higher-grade near surface results are very encouraging. Although a small amount of material at Palomino exists in the Inferred Resource category, we expect to see substantially more ounces at higher grades. Operationally, given proximity to the current South Pit and this deposit is within our permitted disturbance area, we could act on this as early as next year. Drilling is ongoing at Palomino and will shift to the south in July toward our Coyote discovery made late last year.”