Vancouver, British Columbia: Edward Farrauto, President and CEO of Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce the Company has closed the second tranche (“Second Tranche”) of its previously disclosed non-brokered private placement of $3,000,000 (“Private Placement”).
The Second Tranche consists of 7,200,000 common shares at $0.10 per share for gross proceeds of $720,000. The shares issued in connection with the Second Tranche have a four month hold period ending on December 19, 2011. The Company did not pay any finder’s fees in connection with the Second Tranche. To date, the Company has closed on a total of 20,600,000 common shares for gross proceeds of $2,060,000 in connection with this private placement.
The Company expects to complete the Private Placement by issuing the remaining 9,400,000 common shares for gross proceeds of $940,000 in connection with a third tranche shortly. The Private Placement is subject to final approval of the TSX Venture Exchange.
The proceeds of this offering will be used to advance the exploration and development of the Company’s Borosi Project in Nicaragua and for general working capital purposes.
About Calibre Mining Corp.
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 silver deposits in Central America. Calibre has outlined a NI 43-101 compliant inferred resource totalling 835,450 ounces of gold and 4,288,070 ounces of silver at its 100% owned Borosi Project in Nicaragua. The Company is presently focused on a drilling program at its 100% owned Riscos de Oro gold-silver project and the trenching and drilling program at the Primavera gold-copper prospect in conjunction with B2Gold, also within the Borosi concessions in Nicaragua.
Major shareholders of Calibre include gold producer Yamana Gold Inc. and investment fund Sun Valley Gold.
Calibre Mining Corp.
Signed “Edward Farrauto”
Edward Farrauto, CGA
President and CEO
For further information contact:
Mark Carruthers – Vancouver, Canada
604 681 9944
Neither the 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.