Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce that the Company has retained the services of Roman Friedrich & Company LLC (“RFC”) of Rancho Santa Fe, California and Vancouver, British Columbia to provide financial advice regarding strategic alternatives available to the Company to enhance shareholder value. RFC is a specialized investment banking firm servicing the mining industry mostly in the America’s. Since 1997 RFC has provided numerous companies with advice on acquisitions, mergers, divestitures, and joint ventures as well as providing valuations and fairness opinions.
Calibre’s Borosi Concessions, in northeast Nicaragua include a 100% interest in 429 km2 of mineral concessions that contain a NI43-101 resource in 3 gold-silver deposits at a 0.6 g/t AuEq cutoff of 10.75 million tonnes grading 3.06 g/t Au and 24.38 g/t Ag containing 1,057,000 ozs gold and 8,430,000 ozs silver (see Calibre News Release dated September 5, 2012). Additionally Calibre has joint venture exploration programs underway with Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project; and with B2Gold Corp. on 322.3 km2 of concessions, which includes the Primavera gold-copper porphyry discovery.
Calibre Executive Chairman Douglas Forster stated, “I have worked with RFC in the past and look forward to this relationship adding significant value to Calibre and our projects in Nicaragua. Calibre’s current 1.0 million oz. Inferred Gold Resource is open for resource expansion and with $2.3 million in working capital and new gold/silver discoveries at Guapinol, La Sorpresa, Montes de Oro and La Virgen in addition to the Primavera gold-copper discovery Calibre is well positioned to enhance shareholder value in the historic and underexplored Mining Triangle of north-east Nicaragua”.
The agreement with RFC to provide Calibre with financial and advisory services has an initial term of 6 months. After 6 months, at the discretion of Calibre, the agreement can be terminated with 30 days’ notice. The remuneration consists of a monthly retainer, reimbursement of all reasonable expenses, and a graduated success fee.
About Calibre Mining Corp.
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 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.
Douglas Forster, M.Sc., P.Geo.
For further information contact:
Greg Smith, President and CEO - Vancouver, Canada
604 681 9944
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.