NI43-101 Resources

NI43-101 Inferred resource totaling 1,057,750 ounces gold and 8,430,070 ounces silver

In February 2011, Calibre announced two new gold and silver resources for the 100% owned Cerro Aeropuerto and La Luna deposits. The National Instrument 43-101 ("NI 43-101") compliant, inferred resource totals 835,450 ounces of gold and 4,288,070 ounces of silver (903,000 ounces of gold equivalent).

Calibre announced its third gold and silver 43-101 Inferred resource on the 100% owned Riscos de Oro deposit in September 2012. The new inferred resource totals 222,300 ounces of gold and 4,142,000 ounces of silver (287,100 ounces of gold equivalent).

Calibre's three National Instrument 43-101 ("NI 43-101") compliant inferred resources total 1,057,750 ounces of gold and 8,430,070 ounces of silver (1,190,000 ounces of gold equivalent). The inferred resources were compiled by Wardrop a Tetra Tech company ("Wardrop").

Inferred Resource for Cerro Aeropuerto, La Luna & Riscos de Oro (using a 0.6 g/t AuEq cutoff grade)

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. Aeropuerto 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

In May 2012 Calibre announced new copper, gold and silver resources for the stockpiles at Rosita in conjunction with joint venture partner Alder Resources Ltd. The resource estimate was prepared by Yungang Wu, Resource Geologist of Toronto-based consulting firm Coffey Mining Pty. Ltd. ("Coffey") and an independent Qualified Person under NI43-101, and is based on 17 vertical channel samples and 55 reverse circulation drill holes completed by Alder over the stockpiles during late-2011 and the first quarter of 2012. The ("NI") 43-101-compliant inferred resource estimate for the stockpiles at Rosita, totals 108.5 million pounds ("lbs.") copper ("Cu"), 118,500 ounces ("ozs") gold ("Au") and 2.35 million ozs silver ("Ag") contained within 7.95 million tonnes. This resource is based on a cutoff of 0.15% copper equivalent ("CuEq"), and averages 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag, for a 1.01% CuEq.

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. 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.
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.