May 7, 2013
| Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the "Company" or "Calibre") is pleased to provide an update on the Company's exploration activities and recent discoveries at the 100% owned Riscos de Oro gold-silver deposit and other high priority targets in the Eastern Epithermal District on the Borosi Concessions, northeast Nicaragua. Calibre controls a 100% interest in 429 km2 of mineral concessions in the Mining Triangle of NE Nicaragua. Additionally, Calibre has joint venture exploration programs underway with Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project; and with B2Gold Corp. on 322.3 km2 of concessions which includes the Primavera gold-copper porphyry discovery. Highlights
The 100% Calibre owned Eastern Epithermal Gold-Silver District is in the north-eastern portion of the Borosi Concessions and contains the Riscos de Oro and La Luna Gold-Silver Deposits. Previous exploration on the Riscos de Oro - El Paraiso Trend has outlined numerous gold-silver anomalous zones, past producing pits and shallow shafts and existing small scale mining areas extending over 8 kilometres. On-going exploration on the newly acquired Guapinol - La Sorpresa Trend has been successful in defining a series of related anomalous gold-silver vein targets extending over 10 kilometres. Riscos de Oro - El Paraiso Trend Calibre continues to advance the Riscos de Oro - El Paraiso trend. Work has included; 9427.6 m diamond drilling (37 holes), 232 surface rock samples, 382 trench rock samples, 587.7 m trenching (26 trenches), 63.4 line km soil sampling (2432 samples), as well as reconnaissance geologic mapping over 36 km2. Significant results include; multiple significant drill intersections by Calibre including 10.25 g/t Au and 288.25 g/t Ag over 5.40 m in RD11-010; the Riscos de Oro gold-silver deposit has been confirmed over a 725 m strike length and to a depth of 300 m and remains open for resource expansion; gold in soil anomaly has been delineated over a 7 kilometre strike length from the deposit towards the southwest. Additional work is planned including; trenching of best soil and rock geochemical anomalies and follow-up diamond drilling program testing the along strike extension of the system. Results have been received for a step out trench completed on the Riscos de Oro trend 500 metres northeast of the existing resource area. The trench returned 13.50 m grading 3.26 g/t Au and 14.7 g/t Ag (including 3.00m @ 11.51 g/t Au and 56.6 g/t Ag) from two epithermal quartz veins. The results from this trench extend the Riscos de Oro structure 500 metres towards the northeast. Table 1. Summary of composite results from Riscos trench BTR13-097
Guapinol - La Sorpresa Trend Calibre continues to define the recently identified Guapinol - La Sorpresa gold-silver trend. Work completed includes; 199 surface rock samples, 41 line km soil sampling (2055 samples), and reconnaissance geologic mapping over 27 km2. Work to date has outlined multiple parallel, northeast oriented gold and silver bearing quartz vein systems. Surface rock results include 42.5 g/t Au, 2457 g/t Ag, 4468 ppm Pb and 1513 ppm Zn highlighting the high-grade nature of some veins. Long lived, small scale artisanal mining in the Guapinol and California areas confirms consistent gold grades in quartz veins. Planned work includes trenching of high priority soil and rock geochemical anomalies. Historic drilling at the Guapinol gold-silver zone consisted of 16 diamond drill holes testing a single structure along 150 metres of strike length and down to a depth of approximately 80 vertical metres. Drilling highlights include: G-4; 1.84 m @ 2.33 g/t Au and 276.48 g/t Ag, G-6; 1.52 m @ 28.87 g/t Au and 21.87 g/t Ag, G-8; 3.10 m @ 13.08 g/t Au and 10.02 g/t Ag, and G-11; 0.5 m @ 32.43 g/t Au and 103.15 g/t Ag (see News Release Nov. 27, 2012). Mapping, prospecting and soil sampling completed in 2013 along the Guapinol-La Sorpresa trend successfully identified up to 7 parallel veins in the immediate Guapinol prospect area while five new vein systems have been identified in the area of the La Sorpresa prospect. Other veins have been identified in the El Carmen and Pueblo Santo areas. Recent soil and rock results have further defined and extended the multiple parallel epithermal veins encountered in the Guapinol trend to a cumulative strike length of over 15.8 km. The majority of the veins occur within three main northeast oriented parallel systems. At the La Sorpresa gold-silver target quartz veins have returned the highest grade surface gold and silver values to date from the entire region. Results from recent soil samples have defined the vein trends between low hills with quartz float material and through areas of low topographic relief. Several significant gold-silver rich rock samples have been returned from the La Sorpresa prospect including B13R3072 (14.2 g/t Au and 274 g/t Ag) that was collected from some artisanal workings that can be traced over 400 m. Sample B12R1057, collected from a sub-parallel vein system further to the west, returned 42.46 g/t Au and 340 g/t Ag from artisanal workings exposed over a 200 m strike length. Of greatest interest are samples B13R3081 and B13R3082 that contained 2457 g/t Ag and 1387 g/t Ag respectively. These subcrop rock samples were collected from a low northeast-southwest oriented hill that has no evidence of artisanal mining. Soil sampling has been completed around this hill in order to confirm the orientation of the mineralization and strike length of the system and results are pending. Updated maps detailing the result of the current exploration programs will be posted on the Company's web site at www.calibremining.com. Mr. Gregory Smith, P.Geo, the President and CEO of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release. 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. The Company is focused on its 100% owned Riscos de Oro gold-silver deposit, the drilling program at the Primavera gold-copper project in conjunction with B2Gold Corp. and the exploration program on the Rosita copper-gold-silver project in conjunction with Alder Resources Ltd. Major shareholders of Calibre include gold producer B2Gold and investment fund Sun Valley Gold. Calibre Mining Corp. "Greg Smith" Greg Smith, P.Geo. President and CEO For further information contact: Ryan King - Vancouver, Canada 604 628 1012 www.calibremining.com 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. |