Calibre Mining Corp.: B2Gold Completes Earn Into 51% and Approves Initial $2.0 Million Phase I Exploration Program at Primavera

Calibre Mining Corp.: B2Gold Completes Earn Into 51% and Approves Initial $2.0 
Million Phase I Exploration Program at Primavera for
2013 
New Drilling Results Include; 201.35m Grading 0.77% g/t Au and 0.36%
Cu 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- Calibre
Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") is
pleased to announce an exploration update and further drill results
on the Primavera Gold -Copper Porphyry Joint Venture (the "Project"),
Borosi Concessions, northeast Nicaragua.  
Additionally, B2Gold Corp. ("B2Gold") and Calibre announce the
following:  


 
1.  B2Gold has completed the necessary $8,000,000 in expenditures to earn a
    51% interest in the Project; and
 
2.  An initial budget of $2.0 million has been approved for exploration and
    drilling at Primavera in 2013: The Phase I budget will fund 1,500 m of
    diamond drilling, geological and geophysical compilation and
    interpretation, geological mapping and trenching, and
 
3.  Discussions regarding finalizing a formal Joint Venture Agreement
    between B2Gold and Calibre are currently underway.

 
President and CEO, Greg Smith stated, "Calibre is extremely pleased
that B2Gold has completed their earn-in to 51% at Primavera and the
additional Borosi concessions within the B2Gold/Calibre Joint
Venture. All exploration and drilling to date at Primavera continues
to suggest that we have drill tested only a small portion of a much
larger porphyry system. The up-coming 2013 program is designed to
locate additional good grade gold-copper mineralization within this
extensive new porphyry discovery."  
B2Gold, Calibre's Joint Venture Partner and operator of the Primavera
gold-copper Project has released the following details as part of
B2Gold's annual exploration update dated January 29, 2013:  
"Primavera Project, Nicaragua (B2Gold / Calibre Mining Corp. Joint
Venture) 
A phase II drilling program was completed in 2012 at the Primavera
Gold and Copper Porphyry joint venture project in the productive
Bonanza-Siuna-Rosita mining triangle in the North of Nicaragua. The
phase II program totaled 9,475 metres of drilling for a total overall
drilling program of 13,414 metres for 32 drill holes. The bulk of the
phase II program was focused on the nearby soil geochemical anomalies
at Copper Hill and a prominent structural target to the south of the
main Primavera zone. In addition, two drill holes tested a prominent
geophysical anomaly at Santa Juana, approximately 1.4 km south east
of Primavera. Several drill holes south and west of the main
Primavera zone show anomalous gold-copper values associated with
porphyry style mineralization at depths exceeding 500 metres. Most
importantly the drilling indicates that the porphyry system continues
to the north beneath alluvial cover. A comprehensive geophysical
program was completed during 2012, with both air magnetic and
radiometric surveys flown over the claim area. 
Highlights of the phase II program include drill hole PR-12-016 which
confirmed shallow continuity of porphyry style mineralization on the
west side of the main Primavera Zone with 201.35 metres of 0.77 g/t
gold and 0.36% copper, including 57.85 metres of 1.08 gold and 0.49%
copper. This indicates that copper grades may be increasing to the
north and northwest. PR-12-024 and several other drill holes crossed
two major post mineral faults to the west and north of the main
Primavera Zone and intersected anomalous zones also associated with
porphyry style mineralization. Mineralization extends to the two
faults and further work, needs to be carried out to determine the
degree of fault offset. Results from drill hole PR-12-024 indicate
that the system continues to the north beneath alluvial cover. Hole
24 yielded several deep intervals including 17 metres of 0.39 g/t
gold from 595 to 612 metres, 1.1 metres at 18.28 g/t gold, and 1.5
metres 11.95 g/t gold. These intervals were all associated with vein
and stockwork mineralization in intrusion breccia and diorite
although the high grades for gold are unusual. More drilling will be
required in this area under the alluvium where the geophysical data
indicate the presence of a large magnetic low. 


 
---------------------------------------------------------------------------
# DDH                  From          To    Interval        Gold      Copper
---------------------------------------------------------------------------
                   (metres)    (metres)    (metres)       (g/t)         (%)
---------------------------------------------------------------------------
PR-12-016              0.00      201.35      201.35        0.77        0.36
---------------------------------------------------------------------------
Incl.                 27.75       85.60       57.85        1.08        0.49
---------------------------------------------------------------------------
PR-12-023              0.00      455.80      455.80        0.20        0.12
---------------------------------------------------------------------------
PR-12-024            655.60      656.70        1.10       18.28        0.03
---------------------------------------------------------------------------
                     673.00      674.50        1.50       11.95        0.24
---------------------------------------------------------------------------

 
Drilling to the south at Copper Hill has intersected zones of skarn
and hornfels similar to the style of mineralization and alteration at
the Santa Rita deposit in nearby Rosita which produced over 3 million
pounds of copper, 177,737 ounces of gold, and 2,629,720 ounces of
silver. Additional drilling may be needed to test for possible skarn
deposits which are commonly associated with porphyry systems. The
skarn mineralization lies about 1.5 km to the southwest. Additional
soil sampling is underway in this area. 
The 2013 exploration program for Primavera has a Phase I budget of $2
million. This will fund 1,500 metres of drilling, geophysical
interpretation as well as detailed mapping and geological
interpretation. The Company is commencing a surface mapping and
trenching program to help locate the potential continuation of the
main zone beyond the fault." 
Drill intercepts from the Phase II drill program include; 


 
---------------------------------------------------------------------------
                                           Interval
Hole ID            From (m)      To (m)         (m)    Au (g/t)      Cu (%)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
PR-12-014              0.00       39.70       39.70        0.09      0.0555
               ------------------------------------------------------------
                     269.00      275.00        6.00        0.61      0.0212
               ------------------------------------------------------------
                     330.50      378.00       47.50        0.19      0.0069
               ------------------------------------------------------------
                     415.30      461.80       46.50        0.16      0.0496
---------------------------------------------------------------------------
PR-12-015              0.00       52.00       52.00        0.14      0.0305
               ------------------------------------------------------------
                     241.50      275.00       33.50        0.12      0.1289
               ------------------------------------------------------------
                     365.00      397.50       32.50        0.11      0.0489
               ------------------------------------------------------------
                     435.00      517.50       82.50        0.14      0.0532
---------------------------------------------------------------------------
PR-12-016              0.00      201.35      201.35        0.77      0.3567
               ------------------------------------------------------------
                      25.20       88.65       63.45        1.09      0.4791
               ------------------------------------------------------------
                     315.00      325.30       10.30        1.26      0.0025
---------------------------------------------------------------------------
PR-12-017              0.00       28.30       28.30        0.11      0.0615
---------------------------------------------------------------------------
PR-12-018             63.30       93.60       30.30        0.07      0.0743
               ------------------------------------------------------------
                     417.00      472.90       55.90        0.09      0.0413
---------------------------------------------------------------------------
PR-12-019              2.05      181.50      179.45        0.17      0.1050
               ------------------------------------------------------------
                     103.50      177.00       73.50        0.22      0.1370
               ------------------------------------------------------------
                     295.00      420.00      125.00        0.16      0.0795
---------------------------------------------------------------------------
PR-12-020              0.00       22.00       22.00        0.25      0.0637
               ------------------------------------------------------------
                     365.00      410.00       45.00        0.11      0.0448
---------------------------------------------------------------------------
PR-12-021            125.00      330.00      205.00        0.13      0.1007
---------------------------------------------------------------------------
PR-12-022            171.40      177.40        6.00        0.02      0.9139
---------------------------------------------------------------------------
PR-12-023              0.00      346.00      346.00        0.23      0.1269
               ------------------------------------------------------------
                     122.00      206.90       84.90        0.31      0.1591
---------------------------------------------------------------------------
PR-12-024             65.50       79.75       14.25        0.33      0.0075
               ------------------------------------------------------------
                     496.55      536.55       40.00        0.21      0.0656
               ------------------------------------------------------------
                     595.00      613.35       18.35        0.38      0.0530
               ------------------------------------------------------------
                     653.20      656.70        3.50        6.90      0.0404
               ------------------------------------------------------------
                     673.00      674.50        1.50       11.95      0.2373
---------------------------------------------------------------------------
PR-12-025             65.53      129.24       63.71        0.11      0.0407
               ------------------------------------------------------------
                     104.45      129.54       25.09        0.16      0.0407
               ------------------------------------------------------------
                     115.40      123.44        8.04        0.25      0.0371
               ------------------------------------------------------------
                     320.20      325.00        4.80        0.19      0.0540
               ------------------------------------------------------------
                     385.15      420.55       35.40        0.13      0.0329
               ------------------------------------------------------------
                     409.20      411.60        2.40        0.54      0.0989
               ------------------------------------------------------------
                     534.92      547.11       12.19        0.09      0.0521
               ------------------------------------------------------------
                     560.83      566.93        6.10        0.18      0.1438
---------------------------------------------------------------------------
PR-12-026             18.29       28.96       10.67        0.24      0.0290
               ------------------------------------------------------------
                      62.05       68.58        6.53        0.41      0.0700
               ------------------------------------------------------------
                      92.40      110.20       17.80        0.28      0.0441
               ------------------------------------------------------------
                      92.40       98.40        6.00        0.64      0.0986
               ------------------------------------------------------------
                     265.30      267.00        1.70        2.45      0.0404
---------------------------------------------------------------------------
PR-12-027            142.00      142.95        0.95        0.93      0.0054
               ------------------------------------------------------------
                     161.50      167.50        6.00        0.19      0.0561
               ------------------------------------------------------------
                     175.80      223.80       48.00        0.16      0.0379
               ------------------------------------------------------------
                     175.80      203.25       27.45        0.11      0.0334
               ------------------------------------------------------------
                     304.60      305.25        0.65        1.95      0.4285
               ------------------------------------------------------------
                     310.60      504.00      193.40        0.03      0.0372
               ------------------------------------------------------------
                     535.00      554.50       19.50        0.04      0.0564
---------------------------------------------------------------------------
PR-12-028            145.50      229.90       84.40        0.01      0.0238
               ------------------------------------------------------------
                     310.75      312.42        1.67        2.74      0.3840
               ------------------------------------------------------------
                     332.35      447.00      114.65        0.01      0.0195
---------------------------------------------------------------------------
PR-12-029              0.00      170.15      170.15        0.04      0.0217
               ------------------------------------------------------------
                      32.00       55.15       23.15        0.10      0.0283
               ------------------------------------------------------------
                     189.00      310.00      121.00        0.02      0.0251
---------------------------------------------------------------------------
PR-12-030              0.00      142.60      142.60        0.05      0.0354
               ------------------------------------------------------------
                      85.50       97.60       12.10        0.21      0.1016
               ------------------------------------------------------------
                     186.80      336.70      149.90        0.05      0.0422
               ------------------------------------------------------------
                     186.80      204.30       17.50        0.13      0.0666
               ------------------------------------------------------------
                     412.50      420.80        8.30        0.04      0.8083
---------------------------------------------------------------------------
PR-12-031              0.00       72.00       72.00        0.05      0.0187
               ------------------------------------------------------------
                     176.75      253.00       76.25        0.04      0.0359
               ------------------------------------------------------------
                     300.50      489.20      188.70        0.05      0.0286
               ------------------------------------------------------------
                     363.70      452.63       88.93        0.09      0.0376
               ------------------------------------------------------------
                     424.65      452.63       27.98        0.20      0.0354
---------------------------------------------------------------------------
PR-12-032            163.00      377.05      214.05        0.11      0.0177
               ------------------------------------------------------------
                     163.00      175.50       12.50        0.25      0.0066
               ------------------------------------------------------------
                     232.00      263.65       31.65        0.24      0.0160
               ------------------------------------------------------------
                     251.00      262.00       11.00        0.48      0.0151
               ------------------------------------------------------------
                     254.20      254.85        0.65        2.14      0.0279
---------------------------------------------------------------------------

 
The phase II diamond drilling program at Primavera has been
successful in expanding the main zone through large step-out
drilling. Additional drill holes investigated skarn-hornfels
mineralization at Copper Hill, the intervening covered area between
Primavera and Copper Hill, a northeast trending epithermal vein
system located southeast of Primavera, and several additional targets
identified during the extensive soil geochemical and geophysical
surveys completed during the year. Phase II step-out drilling
included drill holes that were targeting surface
geochemical/geophysical anomalies that are located up to 1.5 km from
the main Primavera zone.  
In the main Primavera zone, drilling tested the along strike
(northeast and southwest) continuity and depth of higher grade
mineralization intersecting thick intervals of porphyry style
mineralization to depths of 250m and over an area approximately 250m
x 350m. Major north-northeast and west-northwest oriented faults
control and displace the gold-copper mineralization in the main zone
at Primavera. Drilling across these structures has intersected
porphyry style mineralization but has not yet located the offset
portion of the higher grade main zone. Drill hole PR-12-024, located
northeast of the main zone, intersected porphyry style mineralization
similar to the main zone when it passed north through a
west-northwest oriented fault, suggesting that the offset portion may
lie further to the north. Drilling during 2013 will be focussed on
both locating new zones of good grade gold-copper porphyry
mineralization as well as the offset portion of the high grade main
Primavera system.  
In outlying areas of Copper Hill, several drill holes intersected low
grade gold and copper mineralization within skarn and hornfels
horizons, suggesting widespread intrusive activity throughout the
area that has potential to host additional significant mineralized
zones. Of the numerous coincident soil geochemical and geophysical
anomalies defined during the year, only one target, located 1.5km
southeast of the main zone, has been drill tested and encountered
anomalous copper mineralization (PR-12-028). Several sulphide-rich
quartz veins and breccias mapped at surface in other parts of the
Primavera region appear similar to veins encountered during drilling
in the faults that cut the main zone.  
The Primavera Gold - Copper Porphyry Project is within the joint
venture with B2Gold Corp., the largest gold producer in Nicaragua -
B2Gold is the project operator. B2Gold has earned a 51% interest in
the Primavera project as well as an additional 322 km2 of joint
venture mineral concessions by spending $8.0 million on exploration
since 2010. Discussions regarding finalizing a formal Joint Venture
Agreement with B2Gold are currently underway. In addition to the
joint venture with B2Gold, Calibre Mining controls a 100% interest in
463 km2 of mineral concessions in the Mining Triangle of northeast
Nicaragua and also has a partnership with Alder Resources Ltd. on the
Rosita gold-copper-silver project.  
Quality assurance and quality control procedures include the
systematic insertion of blanks, standards and duplicates into the
rock sample strings. Samples are placed in sealed bags and shipped
directly to Inspectorate Labs in Managua, Nicaragua for sample
preparation. Samples are assayed for gold and ICP multi-element
analysis at Inspectorate's Vancouver facility.  
Mr. Gregory Smith, P.Geo, the President and CEO of the Company, is
the Qualified Person as defined by NI 43-101, and is responsible for
the accuracy of the technical data and information contained in this
news release.  
About Calibre Mining Corp. 
Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX
VENTURE:CXB) that is focused on the acquisition, exploration and
development of gold and silver deposits in Central America. The
Company is focused on its 100% owned Riscos de Oro gold-silver
deposit, the drilling program at the Primavera gold-copper project in
conjunction with B2Gold Corp. and the drilling program on the Rosita
copper-gold-silver project in conjunction with Alder Resources Ltd.
Major shareholders of Calibre include gold producer B2Gold and
investment fund Sun Valley Gold. 
Calibre Mining Corp. 
Greg Smith, P.Geo., President and CEO 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
Calibre Mining Corp.
Mark Carruthers
604 681 9944
www.calibremining.com
 
 
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