Calibre Mining Commences Trenching and Ground Geophysics on 100% Owned Montes de Oro Gold Project, Nicaragua

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 29, 2014) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce the commencement of the next phase of exploration activities on the 100% owned, high-grade Montes de Oro Gold Project, Siuna District, Nicaragua.

Highlights - Montes de Oro Gold Project

• Montes de Oro Project is a high-grade, gold skarn system with previous trench intercepts including:
  • 52.3 metres grading 7.07 g/t Au
  • 27.5 metres grading 4.92 g/t Au
  • 33.5 metres grading 2.10 g/t Au
  • 16.2 metres grading 4.68 g/t Au

• The current work program consists of a 25 line kilometre ground magnetic survey, as well as additional trenching designed to further extend and define gold mineralization

President and CEO, Greg Smith stated: "The additional trenching and ground geophysical program at Montes de Oro will assist Calibre in finalizing drilling plans for this high priority, 100% owned gold project. In addition to Montes de Oro, Calibre is actively exploring two extensive gold systems in Nicaragua with partners: the Minnesota gold discovery with B2Gold Corp. and the on-going drilling program at the Eastern Borosi gold project with IAMGOLD Corporation."

The Montes de Oro target consists of a 400 metre by 650 metre gold in soil anomaly which has been successfully tested by trenching with results including 52.3 metres grading 7.1 g/t gold, 27.5 metres grading 4.92 g/t gold and 33.5 metres grading 2.10 g/t gold. Work to date at Montes de Oro has defined two high-grade, sub-parallel gold mineralized zones: one 250 metres long and one 500 metres long. Both zones are open for expansion.

The new trenching will include an extension of Pit #26 located 300 metres north of trench MTR13-009 which intersected 52.3 m grading 7.07 g/t Au. Pit #26 exposed silicified and argillic altered diorite with quartz veining and returned highly anomalous gold values including a high of 14.5 g/t Au and three others returning 5.37 g/t Au, 4.25 g/t Au and 1.49 g/t Au.

The ground geophysical program consists of 25 line kilometres of surveying which will cover the entirety of the 600 metre by 450 metre gold in soil anomaly. The survey is targeting highly magnetic zones interpreted to be associated with concentrations of pyrrhotite which has been shown to be associated with gold at Montes de Oro.