Calibre Mining Responds to Condor Gold Announcement

Rhea-AI Summary

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has responded to a Condor Gold news release regarding the La India gold asset. While Calibre confirms having previously engaged in discussions with Condor about potentially acquiring the asset, which would fit within their Hub & Spoke operation, they are not currently in discussions nor have an active offer. The company states that unless Condor reengages in meaningful discussions, they do not plan to complete an acquisition. Calibre is a Canadian-listed, Americas-focused mid-tier gold producer with operations across Canada, USA, and Nicaragua.

VANCOUVER, British Columbia, Dec. 01, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) ("Calibre" or the "Company") reports that it was referenced in a Condor Gold news release. Condor Gold initiated the sale process for their La India gold asset two years ago. During this time, Calibre acknowledges having engaged in discussions with Condor regarding the potential acquisition of the La India gold asset, which aligns well within Calibre’s Hub & Spoke operation. However, Calibre confirms that it is not currently in discussions with Condor, nor does it have an active offer. At this time, unless Condor is willing to reengage in meaningful discussions, Calibre does not envision completing an acquisition.

About Calibre

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

For further information, please contact:

Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com  

Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.

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The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Information

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", “assume”, "intend", “strategy”, “goal”, “objective”, “possible” or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur, and include information regarding: (i) expectations regarding whether the Transaction will be consummated, including whether conditions to the consummation of the Transaction will be satisfied, or the timing for completing the Transaction and receiving the required approvals; (ii) the anticipated timing of the shareholders’ meeting of Condor and the court sanctioning hearing; (iii) expectations regarding the potential benefits and synergies of the Transaction; (iv) expectations regarding Condor’s mineral reserves and mineral resources estimates, additional mineral reserves and future production; (v) expectations regarding utilization of surplus processing capacity; and (vi) expectations for other economic, business, and/or competitive factors.

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form (“AIF”) for the year ended December 31, 2023, its management discussion and analysis for the year ended December 31, 2023 and other disclosure documents of the Company filed on the Company’s SEDAR+ profile at www.sedarplus.ca.

Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.

FAQ

Is Calibre Mining (CXBMF) currently in discussions to acquire Condor Gold's La India asset?

No, Calibre Mining has confirmed they are not currently in discussions with Condor Gold and do not have an active offer for the La India gold asset.

Why did Calibre Mining (CXBMF) consider acquiring Condor Gold's La India asset?

The La India gold asset aligned well with Calibre's Hub & Spoke operation strategy, leading to previous discussions about potential acquisition.

Will Calibre Mining (CXBMF) pursue the acquisition of La India gold asset in the future?

Calibre stated they do not envision completing an acquisition unless Condor Gold is willing to reengage in meaningful discussions.