Calibre Mining Corp.
TSX VENTURE : CXB

Calibre Mining Corp.

September 19, 2013 09:15 ET

Calibre Further Expands 100% Owned Montes de Oro Gold Project

Additional Trenching Intercepts 19.3 Metres Grading 2.71 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 19, 2013) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to provide an update on activities at the 100% owned Montes de Oro gold project within the Siuna District, Borosi Concessions, northeast Nicaragua.

Highlights

  • Calibre has now completed 552.1 linear metres of trenching at the Montes de Oro gold project which has defined two sub-parallel zones (Northern and Southern) each of which has been defined by trenching over a length of 250 m with existing soil anomalies continuing in both directions along strike.

  • At a 1.0 g/t Au cut-off the weighted average gold intercept in trenches completed to date at Montes de Oro is 16.0 metres grading 4.40 g/t Au.

  • Recent trenching has focused on the Southern mineralized zone returning results including Trench MTR13-026 with 19.3 m grading 2.71 g/t Au.

President and CEO, Greg Smith stated, "Additional work at Montes de Oro continues to further delineate this exciting gold target. The trenching has now defined two sub-parallel high grade gold mineralized zones each over approximately 250 metres long and open in both directions. Additional trenching is being initiated along the Northern zone targeting anomalous surface rock and soil samples located 150 metres south of the currently defined southern extent."

Recent Montes de Oro trench results include;

Trench ID From (m) To (m) Interval (m) Au (g/t) Cu (%) Zn (%)
MTR13-009* 0.0 52.3 52.3 7.07 0.06 1.23
MTR13-017* 0.0 23.0 23.0 5.25 0.05 0.38
MTR13-019* 4.8 21.0 16.2 4.68 0.05 0.22
MTR13-017 0 27.5 27.5 4.94 0.05 0.34
MTR13-024* 6.3 10.0 3.7 3.86 0.05 0.06
MTR13-024 ext - - 1.0 8.76 0.12 0.73
MTR13-026 0.0 19.3 19.3 2.71 0.06 0.10
incl 6.0 13.5 7.5 5.16 0.05 0.04
MTR13-027 0.0 40.0 40.0 0.34 0.02 0.21
incl 0.0 4.0 4.0 0.92 0.02 0.07
- * previously reported
- Weighted averages calculated using uncut assays.
- Trench intercepts are sample lengths and further work is required to determine true widths.
- For previous Montes de Oro trench results see Calibre news releases dated June 3, July 26, and August 15 2013.

The recent results continue to support the interpretation of at least two high grade sub-parallel mineralized zones at Montes de Oro; the northern MTR13-009 trend and the southern MTR13-017 trend. The zones have an inferred northeast orientation and appear to dip shallowly to the northwest. Each trend has now been trenched over a distance of approximately 250 metres.

The majority of the new results are from the southern tend which has now been defined by three trenches; MTR-017, MTR-024, and MTR-026.

Work continues at Montes de Oro. Updated maps detailing the result of the current exploration programs will be posted on the Company's web site 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 Acme Labs in Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver, Canada for gold fire assay and ICP multi element analyses. The technical content in this news release was read and approved by Gregory Smith, P.Geo, President and CEO of the Company who is the Qualified Person as defined by NI 43-101.

About Calibre Mining Corp.

Calibre controls a 100% interest in 429 km2 of mineral concessions and additionally, Calibre has joint venture exploration programs underway with B2Gold Corp. on 322.3 km 2 of concessions which include the Primavera gold-copper porphyry discovery and Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project. Major shareholders of Calibre include gold producer B2Gold Corp.

Calibre Mining Corp.

Greg Smith, P.Geo., President and CEO

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.

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