WEBSITE DISCLOSURE
Calibre Mining Corp. (the “Company” or “Calibre”) updates the information on this website regularly. However, such information is not intended to be a comprehensive review of all matters and developments concerning Calibre and Calibre cannot guarantee the accuracy, currency or completeness of the information at all times and assumes no responsibility in this regard.
The scientific and technical information disclosed on this website has been reviewed and approved by David Schonfeldt, P. Geo, Calibre’s Corporate Chief Geologist and a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”).
This website and the materials posted on it do not constitute an offer to sell or the solicitation of an offer to buy any securities of Calibre and any representation to the contrary would be unlawful.
CAUTION ON FORWARD-LOOKING INFORMATION
This website includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. All statements in this presentation 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", "intend", “seek” or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur or be achieved. Forward-looking statements within this website include, but are not limited to: Calibre’s expectations toward higher grades mined and processed going forward, increased overall annual production and cash flow in 2024 and lower per ounce costs; statements and expectations with respect to production guidance, growth and optimization opportunities, and potential mineral reserve or mineral resource expansion in respect of the Company’s mineral properties; statements relating to the Company’s 2024 priority mineral resource expansion opportunities; the Company’s exploration focus at the El Limon Complex; the Company’s metal price and cut-off grade assumptions; the Company’s opportunities at the Volcan open pit (“Volcan”) and the Tranca open pit (“Tranca”) at the La Libertad Complex; the Company’s plans for the La Libertad Complex for 2024; the anticipated dates and costs of construction, mining and commercial production at the Valentine Gold Mine (“Valentine”) and the Company’s expectations with respect to Valentine and all assets and contributions to production growth and expected timing for completion; expectations regarding the potential benefits and synergies of the assets and the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays; expectations regarding future exploration and development, growth potential for operations; and 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 for the year ended December 31, 2023 dated March 7, 2024, and its management discussion and analysis for the year ended December 31, 2023 dated February 20, 2024, all available on the Company’s SEDAR+ profile at www.sedarplus.ca. This list is not exhaustive of the factors that may affect Calibre's forward-looking statements such as potential sanctions implemented as a result of the United States Executive Order 13851 dated October 24, 2022.
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. Such assumptions include, but are not limited to: the Company being able to mine and process higher grades and keep production costs relatively flat going forward; there not being an increase in production costs as a result of any supply chain issues; there being no adverse drop in metal price or cut-off grade at the Company’s operating properties; the Company’s opportunities at Volcan and Tranca at the La Libertad Complex coming to fruition; there being no adverse development or hindrance in the permitting or construction processes at Volcan and Valentine and their respective potential and ability to contribute to production growth. 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.
CAUTIONARY STATEMENT REGARDING MINERAL RESERVE AND RESOURCE ESTIMATES
This website and the materials posted on it have been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. As a result, the Company reports the mineral reserves and resources of the projects it has an interest in according to Canadian standards. Canadian reporting requirements for disclosure of mineral properties are governed by, and utilize definitions required by, NI 43-101. NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. These requirements and definitions differ from those adopted by the United States Securities and Exchange Commission under subpart 1300 of Regulation S-K (“S-K 1300”) of the United States Securities Act of 1933 that are applicable to United States companies. Accordingly, descriptions of mineralization and estimates of mineral reserves and mineral resources under Canadian standards included or incorporated by reference in this website and the materials posted on it may not be comparable to similar information reported by United States companies subject to the reporting and disclosure requirements of S-K 1300.
NON-IFRS MEASURES
The Company believes that investors use certain non-IFRS measures as indicators to assess gold mining companies, specifically Total Cash Costs per Ounce of Gold (“Total Cash Costs”) and All-In Sustaining Cash Costs per Ounce of Gold Sold (“AISC”). In the gold mining industry, these are common performance measures but do not have any standardized meaning. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.
(1) Total Cash Costs per Ounce of Gold: Total Cash Costs include mine site operating costs such as mining, processing and local administrative costs (including stock-based compensation related to mine operations), royalties, production taxes, mine standby costs and current inventory write downs, if any. Production costs are exclusive of depreciation and depletion, reclamation, capital and exploration costs. Total Cash Costs are net of by-product silver sales and are divided by gold ounces sold to arrive at a per ounce figure.
(2) All-In Sustaining Costs per Ounce of Gold: AISC is a performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company’s definition is derived from the AISC definition as set out by the World Gold Council in its guidance dated June 27, 2013 and November 16, 2018, respectively. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations. The Company defines AISC as the sum of Total Cash Costs, sustaining capital (capital required to maintain current operations at existing levels), lease repayments, corporate general and administrative expenses, exploration expenditures designed to increase resource confidence at producing mines, amortization of asset retirement costs and rehabilitation accretion related to current operations. AISC excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, rehabilitation accretion and amortization not related to current operations, financing costs, debt repayments, and taxes. Total AISC is divided by gold ounces sold to arrive at a per ounce figure.