VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2012) - Calibre Mining Corp. (TSX VENTURE:CBX) ("Calibre" or the "Company") is pleased to announce results from an initial prospecting, geological mapping, soil sampling and trenching program on the Minnesota gold-copper project within the B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF) ("B2Gold") Joint Venture on the Borosi concessions in northeast Nicaragua. Recent trench assay results include: 6.40 metres grading 5.56 g/t Au (BRTR11-044), 8.00 metres grading 6.35 g/t Au (BRTR11-047), 12.80 metres grading 1.27 g/t Au (BRTR11-057), 6.00 metres grading 2.12 g/t Au (BRTR11-054), and 4.65 metres grading 1.51 g/t Au (BRTR11-053). These initial trenches were excavated over a 900 metre strike length within the Minnesota gold-copper project area.
The Minnesota gold-copper project is located 20 kilometres northwest of the Primavera gold-copper project where an on-going B2Gold/Calibre drill program has intersected significant porphyry-style gold-copper mineralization including: 261.70 metres grading 0.78 g/t Au, 0.30% Cu (PR-11-002) and 172.35 metres grading 0.48 g/t Au and 0.24% Cu (PR-12-008). The Minnesota area was selected as a high priority target during regional evaluation of the entire Borosi Joint Venture area.
Work completed to date includes; 25.5 line kilometres of soil sampling (449 samples), 138 rock samples, 339.55 metres of face sampling of artisanal workings (189 samples), detailed geologic mapping over 15 square kilometres, and reconnaissance geologic mapping over 52 square kilometres.
This work was highly successful in outlining porphyry-style alteration and mineralization delineated over 1.75 km by 1.25km area with an associated central gold and copper soil anomaly measuring 500 metres by 250 metres. The area is also variably anomalous in Mo, Pb and Zn. A second gold in soil anomaly located 500 metres to the north-east measures 750 metres by 250 metres and has returned initial trench results of 8.00 m grading 6.35 g/t Au and 6.40 metres grading 5.56 g/t Au. Surface rock samples at the Minnesota target have returned results up to 34.2 g/t Au, 90.4 g/t Au, and 0.261% Cu. The target consists of a favourable multi-phase intrusive centre with peripheral epithermal vein sets and widespread alteration. Numerous small-scale artisanal gold miners are active in the Minnesota region.
Douglas Forster, Chairman of Calibre, stated: "We are very encouraged by the initial mapping, soil geochem and trenching results at the Minnesota gold-copper project. B2Gold and Calibre are currently planning the next phase of exploration at this high priority target which will include detailed mapping focusing on delineating intrusive centres and alteration as well as additional trenching over areas with newly defined gold/copper soil anomalies."
Additional maps and results as well as current information on the Minnesota gold/copper project can be found at www.calibremining.com.
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the rock sample strings. Samples are placed in sealed bags and shipped directly to Inspectorate Labs in Managua, Nicaragua for sample preparation and then to Inspectorate Labs in Vancouver, Canada for gold and silver fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Gregory Smith, P.Geo, Vice President, Exploration and a Qualified Person ("QP") as defined by NI 43-101.
About Calibre Mining Corp.
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX VENTURE:CBX) that is focused on the acquisition, exploration and development of gold and silver deposits in Central America. The Company is focused its 100% owned Riscos de Oro gold-silver project, the drilling program at the Primavera gold-copper project in conjunction with B2Gold Corp., and the drilling 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.
Douglas Forster, M.Sc., P.Geo., Chairman
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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.
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