Calibre Mining (CXB) Corporate Presentation summary

Strategic vision and growth objectives

• Aims to become a premier Americas-focused gold producer with a target of over 1 million ounces of annual gold production through expansion and acquisitions.

• Operates seven producing mines and three expansion projects, with significant reserves and resources totaling ~19 Moz P&P gold reserves and ~17 Moz M&I resources.

• Focused on responsible, safe production and growth via exploration, development, and strategic acquisitions.

• 2024 is positioned as a transformative year, with Greenstone mine ramping up and shifting the production profile.

• Production growth is expected from mine expansions at Greenstone, Aurizona, Castle Mountain, and Los Filos.

Operational performance and guidance

• 2024 gold production guidance is 590,000–675,000 oz at cash costs of $1,450–$1,550/oz and AISC of $1,820–$1,920/oz.

• Greenstone mine expected to produce 110,000–130,000 oz in 2024 at $850–$950/oz cash cost, with a 15+ year mine life and average grade of 1.23 g/t.

• Greenstone achieved commercial production in November 2024, with Q3 output of 42,448 oz and ramp-up progressing toward full capacity.

• Other key mines include Los Filos, Aurizona, Bahia Complex, Mesquite, RDM, and Castle Mountain, each contributing to diversified production.

• Castle Mountain is on residual leaching during Phase 2 permitting, with future expansion planned.

Asset quality and expansion potential

• Greenstone is among Canada’s largest and highest-grade open-pit gold mines, with expected annual production of ~390,000 oz for the first five years.

• Greenstone’s cash costs are projected in the lower quartile globally, with further cost reductions anticipated as ramp-up continues.

• Opportunities exist to extend Greenstone’s mine life and increase production through underground resources and open-pit expansion.

• Near-mine and belt-scale exploration at Greenstone and Bahia offer significant upside potential.

• Aurizona is advancing an underground expansion and exploring district-scale targets to extend mine life.