Vancouver, British Columbia: Douglas B. Forster, Chairman of the Board of Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) announces that Robert D. Brown, President, CEO and Director is leaving the Company effective June 30, 2011. The Board wants to thank Mr. Brown for his efforts while employed by the Company and wishes him the best in his future endeavours.
Mr. Edward Farrauto, CGA, Director of Calibre will assume the role of Interim President and Chief Executive Officer of the Company as the Board initiates an external search for a President and CEO.
Effective immediately, Mr. Greg Smith, P.Geo. has been appointed Vice President, Exploration of the Company. Mr. Smith is an exploration geologist with more than 23 years of experience. He has worked for both junior and senior mining companies in various parts of the world which has included the management of multi-million dollar work programs that have been successful in outlining more than 10 million ounces of gold. Greg brings a broad range of experience from the evaluation of grass roots properties to supervision of advanced projects including resource and reserve estimation, oversight of geological and technical activities for active underground and open pit mining operations including grade control, QA/QC programs and NI43-101 compliance, and advanced technical and economic studies including Preliminary Assessments, Prefeasibility and Feasibility Studies.
Mr. Edward Farrauto, Interim President and CEO stated: We are very pleased to have Greg Smith, P.Geo. join Calibre as Vice President, Exploration. Greg’s substantial experience working on epithermal gold-silver projects in Central and South America will be exceptionally valuable to the Company as we advance our Borosi Gold-Silver Project in Nicaragua. Greg will oversee all facets of Calibre’s exploration programs in Nicaragua including the resource delineation drill program at the 100% owned Riscos de Oro gold-silver deposit and Calibre’s joint venture with B2 Gold Corp.”
Mr. Adrian Newton, Senior Project Geologist with Calibre has been appointed Country Manager Nicaragua. Adrian has been employed by the Company for over 3 years and has been involved with the Borosi Gold-Silver Project since the project was acquired from Yamana Gold Inc. in 2009.
Calibre has granted 1,275,000 stock options at a price of $0.15 per share for a period of 5 years to officers and consultants of the Company. These options are subject to regulatory approval and are granted under the Company’s stock option plan and include vesting provisions.
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. Major shareholders of Calibre include gold producer Yamana Gold Inc. and investment fund Sun Valley Gold.
Calibre Mining Corp.
Signed “Douglas B. Forster”
Douglas B. Forster, M.Sc., P.Geo.
For further information contact:
Edward Farrauto– Vancouver, Canada
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Cautionary Note Regarding Forward Looking Statements
Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.