Calibre Drilling Expands High Grade Blag Gold-Silver System, Eastern Borosi Project, Nicaragua Including 9.92 Metres Grading 5.36 g/t Gold and 194.6 g/t Silver - Seite 3

The 2015 drilling identified additional gold-silver mineralization outside of the main Blag structure. Each of the four holes (BL15-001 to BL15-004) intersected multiple veins with additional veins occurring in both the hanging wall and footwall to the main Blag structure.

The 2015 program approved by partner IAMGOLD began on February 4^th and is expected to consist of a minimum 5,500 metres of drilling with an approved budget of $1.5 million. Drilling continues on the Eastern Borosi Project and is currently testing the Guapinol gold-silver zone.

Low sulphidation epithermal gold-silver mineralization intersected at the Eastern Borosi Project gold-silver vein systems are hosted within porphyritic andesite and consists of structurally controlled, high energy quartz-carbonate vein breccias, vein-stockworks and discrete smokey quartz veins containing fine grained sulphide minerals.

Calibre and IAMGOLD entered into an option agreement dated May 26, 2014 whereby IAMGOLD can earn a 51% interest in the Eastern Borosi Gold-Silver Project consisting of 176 km² within the Borosi Concessions, Northeast Nicaragua, by incurring US$5 million in exploration expenditures and making US$450,000 in payments to Calibre by May 26, 2017. The total potential investment by IAMGOLD to earn a 70% interest in the Eastern Borosi Project is US$10.9 million. The Eastern Borosi Project hosts gold-silver resources in two deposits and a series of well-defined low sulphidation epithermal gold-silver targets.

Calibre is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by independent firm Kluane Drilling Ltd. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Acme Labs (a Bureau Veritas Group Company) in Managua, Nicaragua for sample preparation and then to Acme Labs in Vancouver, Canada for 50 gram gold fire assay and ICP-MS multi element analyses.