Calibre Closes Private Placement Into Escrow

Jul 16, 2009

Vancouver, British Columbia: Calibre Mining Corp. (CXB-TSX:V) (the "Company" or "Calibre") is pleased to announce that is has closed its previously announced private placement with a syndicate of agents led by Haywood Securities Inc. and including Canaccord Capital Inc. and Genuity Capital Markets (the "Agents") comprising of a total of 41,433,500 million subscription receipts at a price of $0.15 per subscription receipt for gross proceeds of $6,215,025.

The subscription receipts will be automatically converted into units ("Units") on the completion of the acquisition of a 100% interest in Yamana's NEN Gold-Copper Project in Nicaragua. Each Unit will consist of one common share of the Company and one full purchase warrant. Each whole warrant is exercisable into one common share of the Company at a price of C$0.20 over a 24 month exercise period. The securities will be subject to a four month hold period.

The Agents will be paid a cash commission equal to 7% of the gross proceeds raised and have been granted agent's warrants equal to 7% of the number of Units issued as part of the financing. Each agent's warrant will be exercisable for one common share for a period of 24 months from closing at a price of $0.20.

Kinross Gold Corporation ("Kinross") subscribed for 6,666,500 Units of the financing. After giving effect to the financing and the completion of the acquisition of the NEN Gold-Copper Project, Kinross would hold 5.8% of Calibre's outstanding common shares.

The Company intends to use the funds raised from issuance of the subscription receipts to complete the acquisition of a 100% interest in Yamana's NEN Gold-Copper Project and for general working capital purposes. Calibre Mining Corp. is a TSX Venture Exchange listed company (TSX.V: CXB) that is focused on the acquisition, exploration and development of gold and copper deposits in North and Central America.

On behalf of the Board of Directors

"Robert Brown" President and CEO

For further information contact:
Robert Brown - Vancouver, Canada
604 681 9944

Neither 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.

The views and information expressed in this news release are those of Calibre's management based on its due diligence to date and to its knowledge including the review of historic information obtained from internal company reports. No representations as to the accuracy of the information outlined in this news release have been made (nor should any be assumed to have been made) by any of the companies named herein.

Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre Mining Corp. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


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