Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce results from the first hole of the 2011 drill program at its 100% owned Riscos de Oro property. Drill hole RD11-010 intercepted three zones of gold and silver mineralization, highlighted by 10.25 g/t gold and 288.25 g/t silver over 5.4 metres (16.26 g/t AuEq1,2 over 5.4 metres) in the lower most zone. The mineralization is characterized by banded sulphosalts hosted within low sulphidation epithermal banded quartz veins and quartz vein breccias. A cross section and drill plan map are available at www.calibremining.com.
Table 1 Assay Results from the Riscos de Oro Property
1 AuEq equivalent calculated using estimated gold price of US$1200/oz and silver price of US$25 per ounce.
2 Metallurgical recoveries and net smelter returns are assumed to be 100%
“Our second drill program at Riscos de Oro continues to confirm and expand high grade gold and silver low sulphidation epithermal mineralization well below the historic open pit and underground workings” stated Robert Brown, President and CEO of Calibre. “Drill hole RD11-010 was drilled in the vicinity of historical drill hole RIS-9 which intersected gold and silver mineralization 200 metres below surface (12.89 g/t Au and 13.23 g/t Ag over 7.5 metres). The hole also stepped out approximately 50 metres from RD10-001 (2.44 g/t Au and 292.60 g/t Ag over 5.8 metres). Drilling suggests that the Riscos de Oro gold-silver deposit is composed of multiple horizons, the continuation of these parallel zones directly below the mine and along strike of the deposit will be tested with subsequent drilling”
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the soil and rock sample strings. Samples are placed in sealed bags and shipped directly to ALS CHEMEX labs in North Vancouver, BC for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Roger March, P.Geo., a professional geologist registered in the Province of Newfoundland & Labrador and a qualified person as defined by NI 43-101.
Calibre Mining Corp. is an aggressive TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold, silver and copper deposits in Central America. Major shareholders of Calibre include gold producer Yamana Gold Inc.
Calibre Mining Corp.
Signed “Robert Brown”
Robert D. Brown, B.Sc., MBA
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.
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.