Calibre Mining Corp.
TSX VENTURE : CXB

Calibre Mining Corp.

July 16, 2008 09:00 ET

Calibre Mining Begins Drilling on Trundle Copper-Gold Property, New South Wales, Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2008) - Mr. Robert Brown, President and CEO of Calibre Mining Corporation (TSX VENTURE:CXB) ("Calibre" or the "Company") is pleased to announce that the Company has initiated a 7-hole 3,700 metre diamond drill program on the Trundle copper gold property, New South Wales, Australia. The Trundle property is a 78 square kilometre tenement (EL4512) in Central New South Wales, immediately adjacent to the township of Trundle, approximately 355 kilometres west of Sydney. The North Parkes copper-gold district is 25 kilometres to the east and has produced 864,500 ounces of gold and 616,400 tonnes of copper. Calibre is earning a 70% interest in the Trundle tenement from Western Plains Resources Ltd. (ASX:WPG), by completing exploration expenditures totalling AUS$ 3 million over a 3 year period with a minimum work commitment of $600,000 in the first year. Calibre can earn an additional 20% interest in the project by completing a Feasibility Report.

Trundle contains widespread evidence of porphyry and skarn-style copper-gold mineralization associated with several discrete intrusive centers. Historical shallow rotary air blast (RAB) and air core drilling on four of these centres confirmed the presence of copper and gold mineralization coincident with skarn and porphyry-style alteration and airborne magnetic highs. GOS Drilling of Cobar, New South Wales, has been contracted to carry out a 3,700 metre diamond drilling program. The program focuses on the northern targets of Mordialloc, Bloomfield's and Yarrabandai and is designed to test targets at depth (greater than 500m) for high grade porphyry Cu-Au mineralization. A map and cross section showing the proposed locations of the drill holes has been posted on the Calibre website and can be viewed at http://www.calibremining.com/i/pdf/2008-Drill-Holes-Trundle.pdf.

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 from around the Pacific Rim. In addition to the exploration program at Trundle, Calibre is continuing to advance the Cargo project in New South Wales, Australia, the Trend Property in Nevada, United States, and the Pt. Leamington Project in Newfoundland, Canada.

Calibre Mining Corp.

Robert D. Brown, B.Sc., MBA, President and CEO, Director

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.

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

Contact Information

  • Calibre Mining Corp.
    Robert D. Brown, B.Sc., MBA
    President and CEO, Director
    (604) 681-9944
    Website: www.calibremining.com