Calibre Mining Advances Gold Targets on 100% Owned Siuna District Projects, Nicaragua

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 18, 2015) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is pleased to announce results from the current phase of exploration activities on the 100% owned Siuna District, Nicaragua.

Highlights

• Soil sampling at the Roskilete Gold Project located eight km north-west of the Montes de Oro Gold Project has outlined a gold in soil anomaly measuring 1,000 metres by 1,200 metres
  
  
• Reconnaissance Rock sampling at the Cerro Aza Gold Project located five km south-west of the Montes de Oro Gold Project returned 6.6 g/t Au in a float rock sample within an area where previous soil sampling generated a gold anomaly >750 metres long (open to the north) and 200 metres wide
  
  
• At San Miguel located three km north-east of the Montes de Oro Gold Project soil sampling and geological mapping has been completed over an area of 1.34km² which includes a zone where previous rock sampling has returned anomalous gold values up to 5.85 g/t Au - results for the soil samples are pending
  
  
• Chip sampling completed at Cerro Potosi (10km south of Montes de Oro) with results including 10.2m @ 2.05 g/t Au and 178 g/t Ag
  
  
• At the Montes de Oro Gold Project field work on an Induced Polarization geophysical survey has been completed and a Phase I drilling program to test high grade gold mineralization discovered in trenching is expected to start in April, 2015.
  
  

President and CEO, Greg Smith stated: "We have now completed initial exploration on a series of regional geological and geochemical targets within the Siuna District and each has shown excellent potential to generate additional high priority gold targets. At the Montes de Oro Gold Project we have completed all of the exploration necessary for the definition of the Phase I priority drill targets and drilling will begin in April 2015."

Soil sampling at Roskilete (eight km north-west of Montes de Oro) has generated a coherent gold and multi-element anomaly covering an area 1.0km by 1.2km consisting of anomalous gold, copper, and arsenic. This main anomaly includes two trends the first in the central portion trending NE-SW and the second on the southern edge trending N-S. A second anomalous area is located 500 metres to the south and returned weakly anomalous gold with highly elevated values of lead and zinc. The Roskilete area is underlain by andesite volcanics and sediments which have been intruded by diorite. Further follow-up work including trenching is planned.