Gold $ 1838.70 3.40

Silver $ 25.20 0.25

Palladium $ 2387.60 57.60

Platinium $ 1090.60 6.20

Calibre Exceeds High-End of 2020 Production Guidance Range; 2021 Production Guidance of between 170,000 and 180,000 ounces of Gold Represents Top-Line Growth of ~30%

Russell Ball, Chief Executive Officer of Calibre, stated: “The team delivered a safe and strong fourth quarter to finish the year ahead of guidance and I am grateful for their dedication and focus during an exceedingly difficult year.

Looking to the future, I am excited about the 30% production growth we expect to deliver in 2021 as we commence first ore deliveries from our Pavon Norte open-pit mine this month. With strong cash flow generation, we will be reinvesting in the business through an increased exploration budget and development of our Panteon and Atravesada underground mines, which are expected to commence ore deliveries before the end of the third quarter of 2021 and 2022, respectively.

In addition, we have started the technical work and expect to commence drilling later this quarter at our now 100%-owned Eastern Borosi Project. While not included as part of our August 2020 multi-year outlook, I believe the Guapinol deposit represents the next opportunity for us to deploy our ‘hub-and-spoke’ operating philosophy to generate significant value for all stakeholders.”

For further information, please contact:

Ryan King
Vice President, Corporate Development & IR
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com

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