The Calibre Borosi Concessions are located approximately 275 kilometres northeast of the capital city of Managua and 80 kilometres west of the coastal town of Puerto Cabezas. The concessions cover 87,627 hectares (876km2) of the highly prolific but underexplored Mining Triangle (a.k.a "Golden Triangle") of northeastern Nicaragua. Calibre has entered into two joint ventures and two option agreements with B2Gold Corp (66 km2), Rosita Mining (33 km2), Centerra Gold (253 km2) and Iamgold Corp (176 km2). Calibre has maintained control of 100% in a total of 347 km2 including the Santa Maria and Minnesota Gold Projects.

The Mining Triangle of Nicaragua, one of the most prolific mining districts of Central America, has an estimated historical production of 7.9 million ounces of gold, 4 million ounces of silver and 305 million pounds of copper (Arengi, 2002). Two major historic mines operated on the Borosi concessions as recently as the early 1980s; the La Luz-Siuna gold mine (100% Calibre -- optioned to Centerra Gold) and Rosita copper mine (--Joint Venture with Rosita Mining). The La Luz-Siuna mine produced approximately 2.3 million ounces of gold during its operation while the Rosita mine produced approximately 305 million pounds of copper. Both deposits were of the skarn model type. A number of smaller past producing gold deposits are located on the Borosi concessions including the La Luna, Riscos de Oro and Blag historic mines (currently under option to Iamgold). Of the three historic mining towns that make up the "Golden Triangle" only Bonanza is currently producing gold (others towns are Siuna and Rosita).

The Borosi concessions have the potential to host several major deposit types including Low Sulphidation epithermal veins (gold and silver), Skarns (gold, silver, copper, zinc, and iron), Porphyry (gold and copper) and Intrusion Related deposits (gold, silver and copper).

The underlying geology of the region consists of northeast trending sequences of interbedded limestone, calcareous mudstone, and greywacke of the early Cretaceous Todos Santos Formation. These units host most of the reported skarn mineralization. Sedimentary rocks may be locally interbedded with pre-Matagalpa andesitic tuffs and flows of Cretaceous age. Near continuous volcanism from the late Cretaceous to mid-Tertiary resulted in the emplacement of numerous felsic to intermediate stocks, plugs and dikes. Porphyry style mineralization has been confirmed in some of these intrusions (e.g. the Calibre-B2Gold Primavera Project). The associated Matagalpa andesitic to basaltic volcanics and pyroclastics are widely distributed through the region and host most of the low-sulphidation style epithermal mineralization.

Click Here for the Borosi Concessions - Joint Venture Map

Mr. Gregory Smith, P. Geo., president & CEO for Calibre Mining is the qualified Person as defined by NI 43-101 and has prepared and approved the technical data and information on this webpage.