VANCOUVER - Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the 'Company' or 'Calibre') is pleased to provide an update on its generative exploration program that is focused on identifying near-term, organic growth opportunities to complement and leverage off the Company's 'Hub-and-Spoke' operating philosophy.

The Company began dedicating resources to its nascent generative exploration program in June 2020, with the goal of identifying resource expansion opportunities located within trucking distance of the Libertad Complex, where in excess of a million tonnes of surplus annual processing capacity exists.

Through a two-pronged strategy involving district to regional scale geologic modeling and data analytics, coupled with field reconnaissance and first pass drill testing, the Company has launched an aggressive program to systematically evaluate the broader potential of its approximately 1,200 km 2 portfolio of 100%-owned mining and exploration concessions. Additionally, the Company recently applied for new mineral concessions (covering another 800 km 2) that exhibit similar geologic characteristics to the bonanza-style epithermal gold systems at Limon, Libertad and Pavon.

Russell Ball, Chief Executive Officer of Calibre stated: 'We have an incredible opportunity in front of us to deliver low-cost, organic growth when considering our 'Hub-and-Spoke' operating philosophy and the surplus processing capacity at Libertad. We see excellent near-mine and regional opportunities for discovery and resource growth to leverage the installed and permitted surplus processing capacity. I am encouraged by the innovative approach the team has employed to identify and evaluate new opportunities to grow the business.'

Contact:

Ryan King

Tel: (604) 628-1012

Email: calibre@calibremining.com

Web: www.calibremining.com

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed gold mining and exploration company with two 100%-owned operating gold mines in Nicaragua. The Company is focused on sustainable operating performance and a disciplined approach to growth. Since the acquisition of the Limon, Libertad gold mines and Pavon Gold Project, Calibre has proceeded to integrate its operations into a 'Hub-and-Spoke' operating philosophy, whereby the Company can take advantage of reliable infrastructure, favorable transportation costs, and multiple high-grade mill feed sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.

(C) 2020 Electronic News Publishing, source ENP Newswire