Calibre Mining Corp.

Calibre Mining Corp.

June 08, 2009 08:30 ET

Calibre Announces Pricing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2009) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company") is pleased to announce that further to its press release dated May 26, 2009 it has today priced its offering of subscription receipts for gross proceeds of up to CDN$8,000,000 (the "Offering") led by Canaccord Capital Corporation and including Haywood Securities Inc. and Genuity Capital Markets (collectively, the "Agents"). The subscription receipts will be automatically converted into units ("Units") on the completion of the acquisition of a 100% interest in Yamana's NEN Project.

Each subscription receipt will be priced at $0.18 and will be convertible into one Unit which consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share of the Company at a price of $0.25 for the first 12 months from closing and $0.30 for the remaining 12 months of the 24 month exercise period. The securities will be subject to a four month hold period.

The Company has also granted the Agents the option to solicit additional gross proceeds of up to CDN$2,000,000 exercisable 48 hours prior to closing. Net proceeds from the Offering will be used for the acquisition, exploration and drilling of the NEN Project, and for general corporate purposes, including working capital.

The financing will be subject to regulatory approval. The purchase of a 100% interest in Yamana's NEN Project is subject to final legal due diligence, execution of definitive documentation, completion of the Offering and regulatory approval.

Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX VENTURE: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, CEO and President

The views and information expressed in this news release are those of Calibre's management based on its due diligence to date and to its knowledge including the review of historic information obtained from internal company reports. No representations as to the accuracy of the information outlined in this news release have been made (nor should any be assumed to have been made) by any of the companies named herein.

Cautionary Note Regarding Forward Looking Statements

Safe Harbor 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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