Trench Extension at Calibre's 100% Owned Montes de Oro Project Returns 33.5 Metres Grading 2.1 g/t Gold - Seite 2

Calibre's 100% owned Montes de Oro Gold Project (Siuna District)

The Siuna District is located in the south-west portion of the Borosi Concessions and contains the past producing La Luz Mine that produced 17.1 million tonnes of ore grading 4.14 g/t gold (2.3 million ozs gold). Approximately one kilometre south of the La Luz Mine, Calibre has defined an NI 43-101 Inferred Mineral Resource, at the Cerro Aeropuerto gold-silver deposit at a 0.6 g/t AuEq cutoff of 6.0 million tonnes grading 3.64 g/t gold and 16.16 g/t Ag containing 707,750 ozs gold and 3.1 million ozs silver (see Calibre News Release dated February 28, 2011).

Montes de Oro gold project is located 10 kilometres north of the La Luz Mine where Calibre has outlined a 400 metre by 650 metre gold in soil anomaly with trenching results to date including 52.3 metres grading 7.1 g/t gold, 27.5 metres grading 4.92 g/t gold and 19.3 metres grading 2.71 g/t gold (see Calibre News Release dated September 19, 2013 for further details).

Recent work has consisted of one new trench (MTR13-028) and one trench extension along with a 2m deep test pit at the site of MTR13-025. At total of 29.5m of new trenching has been completed. A composite of 37.8m grading 1.85 g/t Au including 33.5m grading 2.07 g/t Au was returned for MTR13-026. The original trench was extended 18.5m and the composites were recalculated based on the new results. The highest gold values within the trench are found within the gossan unit and are associated with a series of 10-30 centimetre wide silicified fracture zones with strong manganese oxide and hematite alteration as well as localized breccia zones.

On-going field activities are now focused on the northern half of the main gold in soil anomaly. Rock sampling in the strong gold soil anomaly located north of the central drainage returned a top value of 7.87 g/t Au. The sample was also strongly anomalous in As (5,791 ppm As), Zn (0.31%) and Cu (0.11%). The sample was collected from a strongly oxidized porphyritic andesite boulder within the northern splay of the central drainage. The rock type and alteration looks very similar to the gossan that is observed in trench MTR13-026 which is located 300 metres to the south-west. Trenching is now being directed to intersect the gold mineralized trend in the area of the 7.87 g/t Au sample.