Company Overview

Calibre Mining Corp. is a Canada-based intermediate gold producer engaged in the exploration, development, and operation of gold properties. The company operates primarily in the gold mining industry, with revenue derived from the production and sale of gold doré. Its core business focuses on operating low-cost, long-life assets while advancing development-stage projects to support organic growth.

The company’s primary revenue drivers are its operating mines in Nicaragua and the United States, serving global precious metals markets through established refining and offtake arrangements. Calibre Mining is positioned as a growth-oriented producer with a strategy centered on disciplined capital allocation, reserve expansion, and operational optimization. The company evolved from a junior exploration firm into a multi-asset producer through a series of acquisitions and asset consolidations, most notably transforming its scale and production profile beginning in 2019.

Business Operations

Calibre Mining conducts its operations through two principal operating segments: Nicaragua Operations and United States Operations. The Nicaragua Operations include the producing Limon Mine Complex, La Libertad Mine Complex, and the development-stage Pavon Project, which collectively generate the majority of the company’s gold production. The United States Operations consist primarily of the Pan Mine in Nevada, an open-pit, heap-leach operation producing gold.

The company controls mining, processing, and exploration assets across its portfolio and emphasizes hub-and-spoke operating models to maximize mill utilization and reduce unit costs. Calibre Mining operates through wholly owned subsidiaries and does not rely heavily on joint ventures for core production. Revenue is generated through gold sales linked to prevailing market prices, with production supported by ongoing exploration programs near existing infrastructure.

Strategic Position & Investments

Calibre Mining’s strategic direction emphasizes organic growth through resource expansion, mine life extension, and disciplined mergers and acquisitions. A key strategic milestone was the acquisition of Fiore Gold Ltd., which strengthened the company’s presence in Nevada and added operating and development assets to its portfolio. The company has also pursued brownfield exploration investments to increase reserves and improve production visibility.

In 2024, Calibre Mining announced a definitive agreement to acquire Marathon Gold Corporation, which would add the advanced Valentine Gold Project in Newfoundland and Labrador to its asset base, subject to customary regulatory and shareholder approvals. This transaction reflects the company’s focus on politically stable jurisdictions and scalable development projects. The company is also investing in mining optimization technologies and exploration targeting to enhance long-term returns.

Geographic Footprint

Calibre Mining’s operational footprint spans Central America and North America, with corporate headquarters in Canada. Its most significant production assets are located in Nicaragua, where the company has an established operating history and integrated processing infrastructure. These assets form the backbone of current gold production.

In the United States, Calibre operates in Nevada, one of the world’s most established gold mining jurisdictions. The company’s proposed expansion into Atlantic Canada through the Marathon Gold transaction would further diversify its geographic exposure. Collectively, these regions provide Calibre Mining with a balance of near-term cash flow and longer-term development opportunities.

Leadership & Governance

Calibre Mining is led by an executive team with extensive experience in mine operations, corporate development, and capital markets. The leadership emphasizes operational discipline, safety, and shareholder returns, with a strategic vision focused on building a sustainable mid-tier gold producer through growth and execution.

Key executives include:

• Darren Hall – President and Chief Executive Officer
• David Schonfeld – Chief Financial Officer
• Marc Fogassa – Chair of the Board
• Ryan King – Senior Vice President, Corporate Development and Strategy
• Mark Learmonth – Chief Operating Officer

The board and management team maintain governance practices aligned with Canadian public company standards, with oversight of strategy, risk management, and capital allocation decisions.