Dear Gold Investor,

In the last year Calibre Mining increased its reserves 200%,  bumped gold production up 30% and expanded its land package in a relatively unexplored Nicaragua.

We are just getting started and investors should expect more growth. Here’s why you should listen to us.

The management and board of directors on Calibre Mining is behind over $5B in mining takeouts.

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Management or our Board Members were involved in creating and selling these 6 mining companies for over $5 Billion USD



We are running the same playbook used to create the Newmarket success story

Same plan, but this time in Nicaragua, where we raised $100,000,000 to buy a producing gold asset from B2Gold.

After 2 years we've...

Another busy year of exploration with over 16 rigs operating on a +80,000 metre drilling program

Management aligned with shareholders

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Calibre continues to execute quarter over quarter, adding cash through operations while investing in exploration and growth.

With aggressive resource expansion, district expansion and potential new Moz plus discoveries, our news flow is something a serious gold investor should watch closely.

Our latest investor deck dives into detail on every aspect of our project.

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Production: 33,506 oz vs. guidance: 32,000 – 35,000 ounces 

AISC: $959/oz vs. guidance: $950 - $980/oz

December 31, 2019 cash balance of $33 million

Increased production to ~170,000 to 180,000 ounces a year

Lowered All In Sustained Costs to $1040 - $1,140 per ounce. 

Now debt free and unhedged.

Have $66.3M in cash and self funded.

Launched multi-rig drill programs.

Delivered Q1 2020 Production Ahead of Budget

Production of 42,085 ounces at AISC of $1,030/oz

March 31, 2020 cash on hand of $43 million - an increase of $10 million from December 31, 2019

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This website and the materials posted on it include certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation, including projections, estimates and other statements regarding future financial and operational performance, events, production, revenue, costs, capital expenditures, investments, budgets, ore grades, sources and types of ore, stripping ratios, throughput, cash flows, growth and acquisitions; production estimates and guidance, including the Company’s projected gold production in 2019; statements regarding anticipated exploration, development, production, permitting and other activities and achievements of the Company, including expected grades and sources of ore to be processed; the projections included in existing technical reports, economic assessments and feasibility studies; anticipated or potential new technical reports and studies; the expected mine life for La Libertad Mine; the adequacy of capital for continued operations, and statements regarding the Company’s corporate social responsibility policies or other internal policies. Estimates of mineral resources and reserves are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production, should a production decision be made. All statements found on this website and the materials posted on it 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 generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre’s control, including risks associated with the volatility of metal prices and our common shares; risks and dangers inherent in exploration, development and mining activities; uncertainty of reserve and resource estimates; risk of not achieving production, cost or other estimates; risk that actual production, development plans and costs differ materially from the estimates in our feasibility studies; risks related to hedging activities and ore purchase commitments; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; risks related to environmental regulations or hazards and compliance with complex regulations associated with mining activities; the ability to replace mineral reserves and identify acquisition opportunities; fluctuations in exchange rates; availability of financing and financing risks; risks related to operations in foreign countries and compliance with foreign laws; risks related to remote operations and the availability adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks; risks related to reliance upon contractors, third parties and joint venture partners; challenges to title or surface rights; dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; changes in tax laws; community support for our operations including risks related to strikes and the halting of such operations from time to time; risks related to failures of information systems or information security threats; the ability to maintain adequate internal control over financial reporting as required by law; the ability to comply with the Company’s corporate social responsibility policies or other internal policies; as well as other factors identified and as described in more detail under the heading “Risk Factors” in Calibre’s most recent Management Discussion & Analysis and Calibre’s other filings with Canadian securities regulators which may be viewed at . The list is not exhaustive of the factors that may affect the Company’s forward-looking statements. There can be no assurance that such 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, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities Calibre will derive therefrom. The Company’s forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company 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 law. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.


After finding an undervalued asset in the Fosterville mine, they raised money in a bad market to buy it, expanded production and in 18 months sold the company to Kirkland Lake.

After acquisition, that $1.25 stock rocketed to the equivalent of about $30 per share in a year.

Take a look at this chart below to see how that story is playing out.

One of these wins was Newmarket Gold 

Take a good look at this chart below. 

What you’re looking at, is a peer comparison of our Enterprise Value (EV) against gold production and gold resource. (this data reflects our position as of May 4, 2021).

There is clear value opportunity versus our peer group, however our plans for investing our exploration capital is where our story gets interesting.
We have 2 active gold mills. One is at full capacity. The other is ~50% utilized. If our underutilized mill was at max production we’d more than...

Double our current production of ~175,000 oz’s of gold!

Here’s how we plan on doing just that.

Nicaragua has an extensive highway system. We are using this to build a “hub and spoke” system to deliver ore from up to 400 km away to the mills.

The hauling costs are remarkably cheap, at $0.1 per tonne-km.


Favorable haulage costs and an extensive highway system allow us to transport ore to our mills from all over the country.

Think of the mills as the hubs and the mines we’re developing as the spokes. 

We’ve already added one satellite deposit and turned it into a producing “spoke” in less than 18 months.

That’s some of the best permit to production time in any jurisdiction.
This speed allows us to quickly turn future exploration success into production and cash flow. 

Generative Exploration to discover the next 5 Moz gold district

We've acquired four new concessions (645 km2 ) staked along regional gold-bearing structures in Pacific Epithermal Belt. 

Four, underexplored targets along the pacific epithermal belt give Calibre investors exposure to the potential of finding a new 5 Moz gold district

Grow Emerging Districts

9.07 g/t Au and 19.9 g/t Ag over 6.5 metres 

25.90 g/t Au and 15.3 g/t Ag over 1.9 metres 

6.42 g/t Au and 14.1 g/t Ag over 7.1 metres

More results pending! 

Near Mill Resource Growth

Two near mill discoveries in 2020: Panteon: 80 koz at 7.8 g/t Au  , Atravesada: 78 koz at 6.3 g/t Au 

4 rigs turning at our Limon mill. 

5 Rigs turning at our libertad mill. 

Amalia: 4 new vein systems discovered in Q2/2020, with drilling to commence in Q2/2021.

Proven Track Record

Excellent potential for production growth with Reserve grade @ +4g/t gold.

Libertad Mill Utilization Opportunity

'Hub-and-Spoke' Operating Model

We launched a massive 80,000m drill program in 2021 with three goals —  expand resources, make new discoveries and expand production with our existing infrastructure.

Here's a snapshot of our progress.

Buena Vista

Five known vein systems, a claim block the size of Limon (limited exploration).


70 km2 partially exposed epithermal hot spring center

Pedernal / La Palma

330 km2 large epithermal alteration cap with anomalous gold


105 km2 large alteration cap, epithermal quartz

Eastern Borosi Project

Currently 700 koz Inferred Resource at 4.93 g/t Au, 5 rigs turning to upgrade and grow resources. Recent high grade drill results include...


Currently 200 koz Reserve at 4.86 g/t Au with resource expansion drilling underway

17.77 g/t Au over 10.8m


18.6 g/t Au over 5.1m

Limon Norte

23.4 g/t Au over 3.3m

Jabali Underground

17.8 g/t Au over 7.0m


8.92 g/t Au over 9.8m


3 BIG Reasons (And One REALLY BIG Reason) Gold Investors Need To Pay Attention To Calibre Mining Right Now