Calibre Mining Expands 100% Owned Concessions to 586 Square Kilometres, Borosi Mining District, Northeast Nicaragua - Seite 3

Additional Targets within the 100% owned Rosita District include Terciopelo, Fruta de Pan, and others.

Additional 100% Owned Projects

Calibre controls 100% of three additional areas; Northern Siuna District (214 km²), Carpatos District (73 km²), and the El Paste Concession (115 km²).

The Northern Siuna District; is located three kilometres north of the La Luz Project optioned to Centerra Gold. This is the largest of the 100% owned areas at 214 km² and hosts the Montes de Oro Gold Project where the 2015 Phase I drilling program intercepted 37.7 metres grading 1.19 g/t Au, 12.97 metres grading 2.60 g/t Au, and 18.8 metres grading 0.97 g/t Au. Additionally Calibre continues to advance a number of La Luz "look-alike" targets within the district. Additional targets include Mina Victoria Project which includes anomalous rock and soils sampling which has defined an anomaly 3.5 km by 2.0 km. Additional zones include Cerro Aza, where a gold in soil anomaly was extended in 2015, Roskilete, and San Miguel.

The Carpatos District; is located north of the Calibre/Iamgold Eastern Borosi Project. The 73 km² Carpatos District has been the subject of surface mapping and rock and soil sampling. Existing target include a series of kilometre-scale anomalous zones with variable concentrations of precious and base metals. The largest anomaly is the Central Carpatos Target which is a circular topographic feature with a central diorite intrusion hosted within altered andesite volcanics. Mineralization consists of centimetre-scale massive bands of oxidized magnetite that are accompanied of thin banded veins and veinlets of granular quartz and magnetite with minor sphalerite and scarce veinlets of oxidized sulphides.

The El Paste Concession; covers a 115 km² area of highly prospective geology 75 km southwest of Siuna. An initial stream sediment sampling program completed in 2015 generated significant gold anomalies requiring follow-up work. A total of 81 samples were collected and analysed for gold and 31 elements. Two kilometre-scale anomalies were generated including; 1) a broad western area defined by 17 samples anomalous in gold and several pathfinder elements outlining a target area 6.0km by 1.0-1.5 km and 2) a second anomaly estimated to be approximately 4.0km by 3.0km on the eastern edge of the sampled area highlighted by the highest gold value (680 ppb Au) returned in the survey.