Trenching and Pitting on Calibre's 100% Owned Montes de Oro Project Extends Gold Mineralization 250 Metres to the North

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to provide an update on the Company's 100% owned Montes de Oro gold project within Calibre's Borosi Concessions located in the historic Mining Triangle District of northeast Nicaragua.

Highlights of Trenching and Pitting Program - Montes de Oro Gold Project

• Montes de Oro Pit #26 samples returned: *
  • 1.0 metres @ 5.37 g/t Au and 16.7 g/t Ag
  • 1.0 metres @ 1.49 g/t Au and 9.2 g/t Ag
  • 2.0 metres @ 4.25 g/t Au and 13.3.0 g/t Ag
  • grab sample @ 14.5 g/t Au and 36.3.0 g/t Ag

• Montes de Oro trench MTR13-029 returned 6.0 m grading 0.63 g/t Au*
  * Length weighted averages / all intervals open in both directions

President and CEO, Greg Smith stated: "Calibre's additional trenching and pitting programs at the Montes de Oro gold project has significantly extended the defined gold mineralization by 250 metres to the north and additional portions of the large 400 m by 650 metre gold in soil anomaly remain untested. We continue to outline a growing size to the Montes de Oro gold system complimenting the highly positive precious metal grades returned from the trenching program."

Recent work at Montes de Oro has focused on the northern extension of the main soil anomaly. Trench MTR13-029 and Pit #26 were excavated approximately 500 metres north of Trench MTR13-009 (52.3 m grading 7.1 g/t Au) and 250 metres north of previous trenching on the system. MTR13-029 returned anomalous gold, silver, copper and zinc hosted within argillic altered diorite and gossan. The diorite had minor quartz stockwork veining.

Table 1 - Trench and Pit Assay Results
Trench/Pit ID	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)
MTR13-029	0.0	19.7	19.7	0.24	1.7	0.040	0.105
MTR13-029	5.0	11.0	6.0	0.63	3.6	0.067	0.136
MTR13-029	6.8	9.4	2.6	0.96	7.1	0.097	0.115
Pit #26	Grab			14.5	36.3	0.048	0.038
Pit #26	0.0	1.0	1.0	5.37	16.7	0.052	0.118
Pit #26	0.0	2.0	2.0	4.25	13.3	0.037	0.082

Trench MTR13-029 is interpreted to have intersected the alteration halo adjacent to the targeted gossan zone. Previous samples of gossanous block on surface in the area returned high grade gold values including; 7.87 g/t Au, 27.6 g/t Au, and 5.87 g/t Au with elevated Ag (to 7.40g/t Ag), copper (to 1067 ppm Cu), and zinc (to 3059 ppm Zn).