Vancouver, British Columbia: Calibre Mining Corp. (CXB-TSX:V) (the “Company” or “Calibre”) is pleased to provide an update on its Borosi Gold-Copper Project in Nicaragua. Field crews are active on the project and have begun an initial campaign of geological mapping, prospecting, and soil surveying on the Riscos de Oro, Blag and La Luna targets within the Eastern Epithermal Camp concessions. The intent of these programs is to quickly advance high priority prospects to drill testing stages by early 2010.
The Company has retained Sinawi Holdings Inc. (“Sinawi”) to provide investor relations services. In consideration of the services to be provided, the Company has agreed to pay a monthly retainer fee of C$1,000 per month for 12 months and grant Sinawi 250,000 stock options. The exercise price of the stock options is $0.15 per share and has a term of five years. The grant of the stock options is subject to regulatory and exchange approval.
The Company has engaged Asty Capital AG (“Asty”) of Zurich, Switzerland as its capital markets advisor to assist the Company with its corporate development in Europe. The term of the engagement will be for a period of 6 months. As consideration for the engagement, Calibre will pay Asty a monthly fee of C$25,000 and grant Asty 300,000 stock options. The exercise price of the stock options is $0.15 per share and has a term of five years. The grant of the stock options is subject to regulatory and exchange approval.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in North and Central America.
On behalf of the Board of Directors
“Robert Brown” President and CEO
For further information contact:
Robert Brown - Vancouver, Canada
604 681 9944
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.