ni43101reports

Technical Reports

NI 43-101 REPORTS

Table 1 Calibre Mining Corp. Inferred Resource for Cerro Aeropuerto, La Luna & Riscos de Oro (using a 0.6 g/t AuEq 1,3 cutoff grade)2
Zone Tonnes Grade (Au g/t) Grade (Ag g/t) Grade (Aueq g/t) Contained Au (ounces) Contained Ag (ounces) Contained Aueq (ounces)
La Luna 2,539,000 1.56 14.01 1.78 127,700 1,143,570 146,000
C. Aeropuerto 6,052,000 3.64 16.16 3.89 707,750 3,144,500 757,000
Riscos de Oro 2,159,000 3.20 59.67 4.14 222,300 4,142,000 287,000
Total 1,057,750 8,430,070 1,190,000
1. Resource models used Inverse Distance grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and a base cutoff grade of 0.6 g/t.
2. Resource Estimates for La Luna and Cerro Aeropuerto detailed in Technical Report titled NI 43-101 Technical Report and Resource Estimation of the Cerro Aeropuerto and La Luna Deposits, Borosi Concessions, Nicaragua by Todd McCracken, dated April 11, 2011.
3. Numbers may not add exactly due to rounding.
4. Gold Equivalent (AuEq) for Riscos de Oro was calculated using $1264 /oz Au for gold and $19.78/oz Ag for silver, and metallurgical recoveries and net smelter returns are assumed to be 100%.
5. Gold Equivalent (AuEq) for La Luna and C. Aeropurto was calculated using $1058/oz Au for gold and $16.75/oz Ag for silver, and metallurgical recoveries and net smelter returns are assumed to be 100%.
6. Mineral Resources that are not mineral reserves do not have economic viability


Table 2 Cerro Aeropuerto Deposit - Inferred Resource Calculations at different cutoff grades2
Tonnes and Grade Total Contained Metal
Cutoff grade Tonnes Gold Silver Au Eq1 Gold Silver Gold Silver Au Eq1
Au Eq (g/t)1   (g/t) (g/t) (g/t) (grams) (grams) (ounces) (ounces) (ounces)
0.2 6,850,000 3.24 14.69 3.47 22,228,000 100,599,000 714,640 3,234,350 765,290
0.4 6,219,000 3.55 15.95 3.80 22,078,000 99,203,000 709,820 3,189,470 759,780
0.6 6,052,000 3.64 16.16 3.89 22,013,000 97,805,000 707,750 3,144,500 757,000
0.8 5,656,000 3.86 15.95 4.11 21,845,000 90,205,000 702,330 2,900,150 747,750
1.0 5,396,000 4.02 15.93 4.27 21,676,000 85,980,000 696,910 2,764,320 740,210
1 Au Eq cutoff equivalent calculated using Wardrop's estimated gold price of US$1058/oz and silver price of US$16.57 per ounce.
2 Mineral resources that are not mineral reserves do not have economic viability


Table 3 La Luna Deposit - Inferred Resource Calculations at different cutoff grades2
Tonnes and Grade Total Contained Metal
Cutoff grade Tonnes Gold Silver Au Eq1 Gold Silver Gold Silver Au Eq1
Au Eq (g/t)1   (g/t) (g/t) (g/t) (grams) (grams) (ounces) (ounces) (ounces)
0.2 3,502,000 1.22 11.15 1.40 4,279,000 39,044,000 137,570 1,255,280 157,230
0.4 2,909,000 1.42 12.79 1.62 4,129,000 37,206,000 132,750 1,196,190 151,480
0.6 2,539,000 1.56 14.01 1.78 3,972,000 35,569,000 127,700 1,143,570 145,610
0.8 2,129,000 1.74 15.82 1.99 3,713,000 33,685,000 119,360 1,083,010 136,320
1.0 1,661,000 2.01 19.09 2.31 3,343,000 31,708,000 107,500 1,019,440 123,460
1 Au Eq cutoff equivalent calculated using Wardrop's estimated gold price of US$1058/oz and silver price of US$16.57 per ounce.
2 Mineral resources that are not mineral reserves do not have economic viability


Table 4 Riscos de Oro- Inferred Resource Calculations at different cut off grades2
AuEq
CUT-OFF
TONNES Grade
AuEq g/t
Grade
Au g/t
Grade
Ag g/t
Contained
Au oz
Contained
Ag oz
Contained
AuEq oz
0.4 2,255,000 3.98 3.08 57.56 223,290 4,173,423 288,599
0.6 2,159,000 4.14 3.20 59.67 222,257 4,142,076 287,075
0.8 2,037,000 4.34 3.36 62.41 220,309 4,087,071 284,266
1.0 1,917,000 4.56 3.53 65.27 217,797 4,023,009 280,752
1.2 1,807,000 4.77 3.70 68.17 214,918 3,960,356 276,893
1.4 1,696,000 4.99 3.88 71.41 211,325 3,893,867 272,259
1.6 1,595,000 5.21 4.05 74.62 207,545 3,826,497 267,425
1.8 1,514,000 5.40 4.19 77.55 203,963 3,774,633 263,032
2.0 1,451,000 5.55 4.31 79.59 201,016 3,713,150 259,122
1. Au Eq cutoff equivalent calculated using Wardrop's estimated gold price of US$1058/oz and silver price of US$16.57 per ounce.
2. Mineral resources that are not mineral reserves do not have economic viability


Table 5 Calibre Mining Corp. (party to Alder Resources Ltd. joint venture)
Inferred Resource for Rosita Stock Piles (using a 0.14% Copper cutoff grade)2

Tonnes and Grade Total Contained Metal
Deposit Tonnes Gold Silver Cu Gold Silver Cu
    (g/t) (g/t) (%) (oz) (oz) (lbs)
Rosita Stock Piles 7,950,000 0.46 9.20 0.62 118,000 2.35M 108M
1 Base case is reported at a 0.15% copper equivalent cut-off grade which incorporates consideration of mining and processing cost, recoveries, commodity prices and selling cost.
2. Estimate assumes a long term copper price of US$2.90/lb, a gold price of US$1,200/oz and a silver price of US$24/oz.
3. Rounding as required by NI 43-101 reporting guidelines may result in apparent summation differences.
4. Tonnage and grade measurements are in metric units. Contained gold and silver ounces are reported as troy ounces, contained copper pounds as imperial pounds.
5. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
6. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.