Calibre Drilling Intersects 1.39 Metres Grading 98.72 g/t Gold and 7.08 Metres Grading 6.26 g/t Gold on the Guapinol Gold-Silver Vein System, Eastern Borosi Project, Nicaragua - Seite 2

Drill Holes RD15-041 and RD15-035 are step out holes on the Riscos de Oro Extension (RDO Ext.) to depth and along strike. The deeper hole RD15-041 intersected the vein which returned 4.93 metres grading 0.59 g/t gold and 17.0 g/t silver including 0.48 metres grading 4.64 g/t gold and 48.7 g/t silver.

The drill program continues on the Project and additional drilling has been completed in the Blag Gold-Silver Vein System including on the Main Zone Vein, newly recognized East Dome Vein, and the Santos Trend Veins with assays pending.

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

Low sulphidation epithermal gold-silver mineralization intersected in the 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 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 first anniversary US $150,000 payment having been made in May 2015. The total potential investment by IAMGOLD to earn a 70% interest in the Project is US$10.9 million. The 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.