Calvista Gold Corporation

Calvista Gold Corporation

June 19, 2012 11:26 ET

Calvista Intersects 5.10 g/t Gold Over 16.17 Metres

TORONTO, ONTARIO--(Marketwire - June 19, 2012) -

Editors Note: There is a map associated with this press release.

Calvista Gold Corporation (TSX:CVZ)(OTCQX:CAGOF) ("Calvista" or the "Company") is pleased to announce that recent drilling at its Callejón Blanco prospect, along strike from the La Mascota and La Bodega mineralized zones, has returned high grade gold intersections.

Highlights from the recent Phase II drilling program at the Callejón Blanco prospect, include:

DDH-038 7.46 metres @ 2.10 g/t gold
13.86 metres @ 3.9 g/t gold
DDH-039 16.17 metres @ 5.10 g/t gold
DDH-042 3.46 metres @ 6.30 g/t gold
4.62 metres @ 9.70 g/t gold

The Company's Chief Executive Officer, Mr. Mark Haywood, stated that "the high grade gold results from the 2,500 metre drilling progam at the Callejón Blanco prospect are very encouraging. The Company will commence updating our recently announced NI 43-101 inferred mineral resource once all assays have been returned from the Phase II drilling program."

The 5,000 metre Phase II drilling program began on the 20th of March 2012, consisting of 2,500 metres allocated to each of the Callejón Blanco and Buenavista prospects. The program is expected to be completed next week with results processed during July 2012 in expectation of a resource estimation update in the third quarter of 2012. The Phase II program at Callejón Blanco prospect has targeted mineralized zones identified in our Phase I drilling program, plus along strike extensions from the San Celestino, La Mascota & La Bodega mineralized zones being developed by Galway Resources and AUX Canada Acquisition Inc., respectively.

Selected drill hole results, using a cut-off grade of 1.0 g/t of gold, from four Phase II drill holes from our Callejón Blanco prospect are provided in Figure 1 and in the Appendix.

A phase III drilling program is also being prepared, which is planned to include 10,000 metres of diamond core drilling, and expected to commence during the last quarter of this year.

Quality Assurance

Calvista has developed and implemented Quality Assurance/Quality Control protocols that exceeds current industry best practices. Calvista's exploration protocol includes the insertion of blanks, duplicates, standards and external controls on all their samples. Samples with assay results greater than 10 g/t Au are re-assayed by metallic screen analysis. Sample preparation is conducted by the ALS Group ("ALS") in Bucaramanga, Colombia before being analyzed at the ALS certified assay laboratory in Lima, Peru.

Technical Information

Mr. Ricardo Valls, P. Geo., Calvista's VP Exploration, is the Company's designated Qualified Person for this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and validated that the technical information contained in the release is accurate.

About Calvista

Calvista is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. All our prospects in the California Valley are located below 3,200 metres and are not affected by the Paramo ecosystem law. With a head office in Toronto and Colombian headquarters in Bucaramanga, Calvista is led by a management team with over 50 years of exploration and mining experience, principally in South and Central America. For further details on Calvista, please refer to our web site ( and Calvista's Canadian regulatory filings on SEDAR at

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Calvista's objectives, goals or future plans, statements regarding exploration results, exploration plans and the timing of a potential resource estimate. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent to preparing a resource estimate within expected timeline, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in a jurisdiction such as Colombia, and those risks set out in Calvista's public documents filed on SEDAR. Although Calvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Calvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

(Cut-off grade of 1.0 g/t of gold)
True Au Ag Cu
Hole From To Interval Thickness g/t ppm ppm Easting Northing Elevation Depth AZ DIP
DDH-38 8.55 15.01 6.46 7.46 2.10 < 100 1680 1127672 1306379 2393 550 0 -45
49.28 50.15 0.87 1.00 1.30 10.90 593
56.78 58.70 1.92 2.22 3.10 84.90 1755
105.00 117.00 12.00 13.86 3.90 67.20 715
141.45 142.45 1.00 1.15 5.20 15.60 10000
DDH-39 28.00 29.00 1.00 1.15 1.20 41.70 3700 1127672 1306379 2393 429.5 0 -75
67.20 68.00 0.80 0.92 1.10 < 100 10000
295.00 296.00 1.00 1.15 3.60 < 100 3070
330.00 335.00 5.00 5.77 1.20 66.80 1725
360.00 363.00 3.00 3.46 1.50 < 100 9600
367.00 381.00 14.00 16.17 5.10 25.20 806
422.00 429.50 7.50 8.66 1.20 19.45 3860
DDH-41 37.00 38.00 1.00 1.15 3.80 11.35 10000 1127882 1306502 2453 158 330 -75
59.00 60.00 1.00 1.15 4.60 12.05 10000
DDH-42 53.00 56.00 3.00 3.46 6.30 62.70 1060 1127882 1306502 2453 501 0 -45
69.00 73.00 4.00 4.62 9.70 32.70 825
DDH-43 174.00 175.00 1.00 1.15 12.70 50.90 9860 1129457 1307293 2580 401.5 190 -75
231.00 232.00 1.00 1.15 4.00 14.95 1830

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