Calibre Mining Announces Receipt of Federal Environmental Impact Assessment for Berry Pit at Valentine Gold Mine in Newfoundland and Labrador, Canada

Vancouver, BC – August 6, 2024: Caliber Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) – is pleased to announce that the Honourable Steven Guilbeault, Minister of Environment and Climate Change Canada, has approved the addition of a third open pit mine, the Berry deposit (“Berry Pit”), at its 100% owned Valentine Gold Mine (“Valentine”). In August 2023, an updated Environmental Impact Assessment was submitted to the Impact Assessment Agency of Canada (“IAAC”) regarding the proposed amendments to Valentine to include the Berry Pit and associated infrastructure changes. Following thorough analysis of the submitted update by the IAAC, including the results of consultation with Indigenous groups, communities, advocacy organizations and review of the results of the IAAC's public comment process, Minister Guilbeault signed an Amended Statement of Decision approving the addition of the Berry Pit.

Darren Hall, President and CEO of Calibre, said: “I am pleased to announce that we have received federal environmental approval for the development of the Berry Pit at Valentine. With this approval and the recent award of provincial mining and surface leases for Berry and associated infrastructure, we now have the key approvals for the three pit plan contained in the 2022 Feasibility Study.”
“Since acquiring Valentine in January, we have advanced development to 98%, construction from 50% to 77%, and hired an experienced operations team, positioning us to deliver first gold in the second quarter of 2025.”
Click on the links below to view the IAAC's amended decision statement and analysis on the Berry Pit expansion:
Link1 – Amended decision statement
Link2 – Analysis of Marathon Gold Corporation’s proposed changes to the Valentine Gold Project

About Calibre
Calibre is a Canadian listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities in Newfoundland and Labrador in Canada, Nevada and Washington in the US and Nicaragua. Calibre is focused on creating sustainable value for shareholders, local communities and all stakeholders through responsible business operations and a disciplined approach to growth. With a strong balance sheet, proven management team, strong operating cash flow, accretive development projects and district scale exploration opportunities, Calibre will unlock significant value.

AT ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President and CEO

For further information please contact:

Ryan Koenig
SVP Corporate Development and IR
Phone: 604.628.1012
A: [email protected]
W: www.calibremining.com

Calibre's headquarters are located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
[email protected]
www.resource-capital.ch