Calibre Mining Reports Initial Results from Phase I Drilling Program at Montes de Oro Gold Project

Calibre Mining Corp. (TSXV:CXB) announced the results for the first four holes of 11 planned drill holes from the 2015 diamond drilling program at its Montes de Oro gold project in Nicaragua. The drilling program is projected to consist of 2,500 meters in 11 drill holes with nine holes totaling 1,958 meters completed to date and assays being received for four drill holes.
Highlights include:

• Drilling results to date from massive sulphide and disseminated sulphide zones include: 12.13 metres grading 2.42 g/t Au (including 7.32 metres grading 3.84 g/t Au) in drill hole MD15-007, 2.57 metres grading 5.71 g/t Au (MD15-003) and 1.72 metres grading 8.20 g/t Au (MD15-002).
• The higher gold grades received to date are closely related to an increase in overall sulphides and vein density and these zones are reflected in the strong Induced Polarization (“IP” ) geophysical anomaly measuring 300 metres by 500 metres which was outlined in the Q1 2015 program. The three remaining drill holes in the current program are targeting the core of the strong IP chargeability anomaly located in the northern portion of the area previously tested by trenching.
• Sampling has been completed for holes MD15-004, -005, and -006 with results pending and sampling is on-going for hole MD15-008. Logging and sampling are underway for MD15-009 and the rig is currently drilling MD15-010.
• Exploration continues on a number of additional high priority, 100% Calibre-owned gold targets within the Siuna District including; San Miguel, Roskilete, and Cerro Aza.

Greg Smith, president and CEO of Calibre Mining, commented:

These initial results from the 2015 drilling program at Montes de Oro have confirmed the existence of gold mineralization associated with zones of massive sulphide mineralization as well as wide zones of disseminated sulphide mineralization. With assays being received for only four holes of a planned eleven hole drill program we are encouraged by the presence of wide-spread gold-bearing sulphide mineralization which correlates well with the 300 metre by 500 metre strong, IP geophysical anomaly on the Montes de Oro Project. We look forward to receiving results for the pending samples and completing the remaining drill holes in this Phase I drilling program.

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