CALIBRE EXERCISES ITS RIGHT TO BUY BACK 1% NSR AT ITS 100% OWNED EASTERN BOROSI MINE
VANCOUVER, British Columbia, April 25, 2023 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") announces that it is exercising its right to purchase 50% of the Production Royalty, 1% Net Smelter Return (“NSR”), for US$2 million from Triple Flag Precious Metals Corp., at its 100% owned Eastern Borosi project, thereby reducing the existing royalty to a 1% NSR.
Darren Hall, President, and Chief Executive Officer of Calibre stated : “I am pleased with the progress being made at the Eastern Borosi Mine with the team being on time and on budget with the start of our high-grade open pit mining operation. We believe there is excellent potential to expand resources and make new discoveries that will provide additional runway for future gold production growth. Based on demonstrated execution and upside growth potential at Eastern Borosi, it makes good sense to exercise this right given the anticipated high return on investment.”
ON BEHALF OF THE BOARD
"Darren Hall"
Darren Hall, President, and Chief Executive Officer
For further information, please contact:
Ryan King
Senior Vice President, Corporate Development & IR
T: (604) 628-1012
E: calibre@calibremining.com
W: www.calibremining.com
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across 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.
Source : calibremining.com
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