Calibre Mining Advances 100% Owned Primavera, Monte Carmelo, and Santa Maria Gold Projects on the Borosi Concessions, Nicaragua - Seite 2

The (Primavera) prospect has many similarities to other gold-rich porphyry deposits, including a good Au/Cu correlation, presence of abundant hydrothermal magnetite and a molybdenum-rich halo to the gold-copper zone.

In view of the widespread occurrence of porphyry copper deposits in district-scale clusters and alignments, exploration needs to be focused on assessment of nearby, untested areas.

The proposed programme of scout drilling of geochemical targets is considered the best means of further appraising the district potential.

The drilling program will be finalized over the next 45 days and exploration drilling targeted at the discovery of additional gold-copper porphyry deposits is schedule to commence in Q2 2017.

100% Owned Monte Carmelo Gold Skarn

The maiden drilling program at the 100% owned Monte Carmelo Gold Skarn Project continues with the first 3 of a planned 7 drill holes completed. The program will consist of a minimum of 2500 metres of diamond drilling targeting high-grade gold skarn mineralization exposed on surface and tested by an extensive program of auger drilling.

100% Owned Santa Maria Project

During the first two months of 2017 Calibre completed the permitting process for the upcoming drilling program on the 100% Owned Santa Maria Epithermal Gold-Silver Vein Project.

Additionally Calibre has signed community assistance and engagement agreements with the local villages adjacent to the Santa Maria Project.

The maiden drilling program, consisting of 3000 metres of diamond drilling, will begin upon completion of the remaining drill holes at Monte Carmelo which is anticipated to occur in Q2, 2017.

On-Going Exploration with Partners IAMGOLD and Centerra Gold

Additional to the exploration and drilling programs on-going on the 100% projects, Calibre is managing on-going exploration for both partners IAMGOLD on the Eastern Borosi Project and Centerra Gold and the Siuna Project.

The 2017 drilling program, fully funded by IAMGOLD, started on the 176 sq km Eastern Borosi Project in January 2017. The program will consist of a minimum of 6000 metres of diamond drilling.

Exploration on the 253 sq km Siuna Project, fully funded by Centerra Gold, is on-going. Work is currently focused on regional scale soil sampling program covering 100% of the 241 sq km northern block. Additional work including further diamond drilling is planned for 2017.